TY - JOUR
T1 - Income inequality and wellbeing
T2 - the plight of the poor and the curse of permanent inequality
AU - Cooper, David John
AU - McCausland, W David
AU - Theodossiou, Ioannis
PY - 2013/12
Y1 - 2013/12
N2 - 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.
AB - 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.
U2 - 10.2753/JEI0021-3624470407
DO - 10.2753/JEI0021-3624470407
M3 - Article
SN - 0021-3624
VL - 47
SP - 939
EP - 958
JO - Journal of Economic Issues
JF - Journal of Economic Issues
IS - 4
ER -