“On the other hand, when a nation’s economic policies permit significant income inequality, the population gets squirrely, extremism on both sides of the spectrum arise, and social order degrades. The resultant instability then throws the whole system into disorder and disarray. The historical precedents in many countries clearly demonstrates that.”
As opposed to what ? Ripping success out of the hands of innovators to give it away to politicians ? There are no “historical precedents” that elevate socialism to anything other than totalitarianism. There will always be have-nots, haves and the elites. It’s a good thing. Trickle down economics works.