Before revision:  In this paper, we have tried to address this question and establish an empirical link between the income inequality with savings, mainly for closed economies, and also relate it to an existing theoretical model  based on the principle of kinetic theory of gases.
After revision:  In this paper, we have tried to address this question and establish an empirical link between the income inequality with savings, mainly for relatively small or closed economies. This question was inspired from an existing theoretical model based on the principle of kinetic theory of gases.