Acceptance or aversion? Understanding societys interplay with wealth inequality

Economic inequality is often equated with income inequality. But income inequality is only one form of inequality, wealth inequality is another. Despite its critical importance to understanding economic inequality, wealth inequality has received less attention until recently. Now, because the distribution of wealth is so concentrated among the few, it is actively studied and constantly debated among legislators, scholars, and citizen groups. The heightened focus on wealth inequality has also generated many questions: What is the most accurate definition of wealth inequality? What methodologies and data best measure the concentration of wealth? What causes wealth inequality and what are its effects? Should governments tax the wealthiest? But, there is a deeper question that is fundamental to understanding wealth inequality and its perpetuation: Why do societies accept wealth inequality rather than avert its continuation? In this chapter, this essential question is addressed alongside related questions about wealth inequality.