Consequences of economic inequality: Introduction to a special issue

As an introduction to the papers of this special issue on Consequences of Economic Inequality we first underline with a simple empirical exercise the relevance of studying the subject of consequences of economic inequality in many socially important fields. Next, we sketch the two main theoretical perspectives on the channels by which inequality exerts its effects: on the one hand, the psychosocial, which stresses the role of individual status and stratification, and, on the other hand, the neo-material, which puts the focus on resources at people's disposal. In our view the two are not mutually exclusive. Thirdly, we present each of the contributions and relate their results to these main perspectives. We find support for the view that inequality can magnify not only the differences between individuals or households in the resources at their disposal, but also the association between these resources and politics, well-being and social stratification.