Less equal societies have less stable economies. High levels of income inequality are linked to economic instability, financial crisis, debt and inflation.
How does inequality affect the individual, society and the economy?
Unequal societies have less social mobility and lower scores in maths, reading and science.
Inequality increases property crime and violent crime. A reduction of inequality from Spanish levels to Canadian levels would lead to a 20% reduction in homicides and a 23% reduction in robberies.
Living in an unequal society causes stress and status anxiety, which may damage your health. In more equal societies people live longer, are less likely to be mentally ill or obese and there are lower rates of infant mortality.
Inequality affects how you see those around you and your level of happiness. People in less equal societies are less likely to trust each other, less likely to engage in social or civic participation, and less likely to say they're happy.