Milanovic stated that while traditionally economists thought inequality was good for growth, "When physical capital mattered most, savings and investments were key. Then it was important to have a large contingent of rich people who could save a greater proportion of their income than the poor and invest it in physical capital. But now that human capital is scarcer than machines, widespread education has become the secret to growth" and that while "broadly accessible education" is difficult to achieve under inequality, education tends to reduce income gaps.