A more equal society is a better society. Always. This was borne out in the work of Wilkinson and Pickett for their book The Spirit Level.
You may have less technology. You may have less innovation. Tough. Creating more of what Earl Dunovant called "cute and useful monkey tricks with energy and matter" at the expense of your fellow man and the planet does not put you ahead, and societies should not seek to optimize for monkey tricks over the betterment of their fellow man.
Inequality (along with the environment) may be the defining issue of the twenty-first century, and once recognition of inequality and its consequences goes mainstream, laissez-faire capitalism will join royalism in the dustbin of discredited political philosophies.