Inequality may not cripple us, but it certainly hurts, and it is fundamentally unfair.
For thousands of years humans have been developing labour-saving devices, and we have reached that state where there is just not enough work available to keep everyone usefully employed. 100 years ago most of us were employed on the land, but now about 5% of us grow enough to feed the world. Thousand of young women lost work when we developed automatic telephone exchanges, and many thousands more joined the work force after the war. John Maynard Keynes suggested that England could escape the Great Depression by employing thousands of people to dig holes, and thousands more to fill them in, but it took a war to finally end the depression.
This problem can only get worse, as smarter and ever smarter machinery takes over more and more work, but it's only a problem if the gains are shared unequally among us. The problem is falsely seen as a lack of work, when the real problem is a lack of money. If everyone, (you, me, and James Packer), were to receive a generous 'dole', of say $300, automatically deposited in one's account every Monday, and all income was taxed at a flat rate of 30%, say, we could do away with Centerlink, 90% of the ATO, tax consultants, a lot of prisons, and even some of the police force.
Abbot's intention to force young people off the dole, when the work just is not available, may force many young people into crime, and will cost us about $120,000 each to keep them in jail.

What is actually happening in Australia and world-wide, whether by design or default, is best described as a form of New Feudalism.
Those at the top have quite simply forgotten or failed to learn from the lessons of history...again. They blithely assume that it can't happen to them, it's a modern world, we have modern technology, etc etc etc.
There is NO possible way to reverse this now, indeed, it would seem to be ingrained in our very genes, and consequently we are doomed to "live in interesting times", if anyone survives to take any interest that is.

Well G'day Bruce, things are happening in the US, the banks that were
the fundamental financial cause of the GFC crash are being sued by
other financial bodies for $500 billion and it could send them to the
wall, but it looks like the Bail In may apply if they lose.

Don't have any money with any branch of those banks.