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Income Inequality and Wellbeing: The Plight of the Poor and the Curse of Permanent Inequality

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  • David Cooper
  • W. McCausland
  • Ioannis Theodossiou

Abstract

This paper examines the effect of income inequality on individual wellbeing. The results show that those in the lowest twenty percent of income distribution have a marked reduction in wellbeing compared to the remainder. Hence, poverty is detrimental to wellbeing. The second key finding of this paper is that the existence of permanent aggregate income inequality reduces the wellbeing of individuals in other parts of income distribution, irrespective of their level of income. Income inequality is bad for everyone's wellbeing.

Suggested Citation

  • David Cooper & W. McCausland & Ioannis Theodossiou, 2013. "Income Inequality and Wellbeing: The Plight of the Poor and the Curse of Permanent Inequality," Journal of Economic Issues, Taylor & Francis Journals, vol. 47(4), pages 939-958.
    • Handle: RePEc:mes:jeciss:v:47:y:2013:i:4:p:939-958
    DOI: 10.2753/JEI0021-3624470407
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    Cited by:

    1. Martin Schröder, 2018. "Income Inequality and Life Satisfaction: Unrelated Between Countries, Associated Within Countries Over Time," Journal of Happiness Studies, Springer, vol. 19(4), pages 1021-1043, April.
    2. Jackson, William A., 2015. "Distributive Justice With and Without Culture," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 8(6), pages 673-688.
    3. Schröder, Martin, 2017. "Why no one cares about inequality (except us)," economic sociology. perspectives and conversations, Max Planck Institute for the Study of Societies, vol. 19(1), pages 38-41.

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