Inequality harms society as a whole from "summary" of The Haves and the Have-Nots by Branko Milanovic
Inequality, the unequal distribution of resources and opportunities within a society, has far-reaching consequences that extend beyond just the individuals directly affected. When a society is plagued by high levels of inequality, it can lead to social unrest, political instability, and economic inefficiency. These negative outcomes are not limited to those at the bottom of the income distribution, but impact society as a whole. High levels of inequality can erode social cohesion and trust, as individuals become resentful of those who have more than them. This can lead to increased crime rates and a breakdown in community relationships, ultimately harming the fabric of society. In addition, unequal societies are often characterized by a lack of social mobility, where individuals are unable to move up the income ladder regardless of their hard work or talent. This perpetuates a cycle of poverty and disadvantage that can have intergenerational effects, trapping families in a cycle of deprivation. From a poli...
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