The Psychology Of Economic Inequality : Six Reasons Why We Are Failing to Challenge Great Inequalities of Income and Wealth

Abstract

This open access book interrogates psychology’s contributions to our understanding of economic inequality. In the UK, the US and in many other countries, a high level of economic inequality is now one of the major problems facing society, but it seems the political will to restore greater equality is slight. The purpose of this proposed book is, therefore, to develop a psychological understanding of how economic inequality is tolerated and justified. Do we, as citizens, understand how unequal our society has become? Are our beliefs in merit, desert, and individual autonomy standing in the way of dealing with the problem of high inequality? Is a conspiracy of the rich and powerful to blame, or have we simply accepted a distorted form of economic theory? Finally, what – if anything - can be done? Including relevant insights from epidemiologists, economists, journalists, and others, this book provides an example to students and others of how psychology has relevance to some of the most pressing issues of our time. The UK is the central focus throughout, followed closely by the US and other high-income nations. All of the book’s conclusions however should be of relevance for all countries and their citizens as divides between the economically better- and worse-off remain or worsen, with damaging effects for individuals and their communities.