There is a lot of concern that high GDP growth in recent years has been associated with higher inequality. Gary Becker and Kevin Murphy have a fascinating and different take on understanding higher income inequality. They say that the bulk of the phenomenon of recent increases in inequality are caused by bigger skill premia in the labour market. Also see this New York Times article by Tyler Cowen.
I'm faintly reminded of the argument by Montek Ahluwalia in the late 1990s on the subject of rising inequality between states of India. He pointed out that it was only after liberalisation that the opportunities became available for some better governed states to do better than the rest, so it's natural that in the early period of market-oriented policies, inequality should have gone up. The forces which reduce inequality - the `equalising differences' of the price system (see the comments on this post for more on `equalising differences'), and the feedback loop influencing governance through the political system - impact with a lag.