Why can it be Argued that Inequality slows down Economic Development?

-The poorest within a nation will find it difficult to start up a Firm, due to the lack of Resources to Invest. They probably can't Save, have a Lack of Assets (for Collateral) making it hard for Loans, and thus have a Weak Banking System -Those with Higher Incomes may spend a Lot on Imports, or Invest Abroad. The money thus Leaks out of the Nation. -Inequality has been Linked with Social Problems like Higher Crime or Health Problems