'How rich do we need the rich to be? Is there, however, a longer-term case in favor of vast inequality? It won’t surprise you to hear that many members of the economic elite believe that there is.' Krugman disagrees. 'I believe that theeconomy can flourish with much less concentration of income and wealth at the very top. But why do I believe that?' he says. 'The rich don’t have to be as rich as they are. Inequality is inevitable; the vast inequality of America today isn’t.'