Kicking Away the Ladder or Not? Unraveling Income Inequality Perceptions in the World

Year 2023, Volume: 23 Issue: 4, 709 - 726, 22.10.2023

Özge Erdölek Kozal Gülçin Gürel Günal

https://doi.org/10.21121/eab.1355923

Abstract

Income inequality can be accepted one of the most significant problems of the 21st century. This research aims to explore the factors influencing support for income equality at both the individual and macro levels worldwide. By analyzing the latest data from the World Values Survey, which includes responses from 50,615 individuals across 42 countries, and incorporating key macroeconomic variables obtaining World Bank, this study identifies several crucial determinants of attitudes towards addressing income inequality using logistic regression analysis. The research findings reveal that factors such as material well-being, life satisfaction, institutional trust, job status, place of residence, level of education, and religiosity play a significant role in shaping individual perceptions of income inequality, particularly in the context of support for either redistributive policy or free-market capitalism as potential solutions to mitigate income disparities. Additionally, macro-level variables reveal a substantial influence on support for income equality. Income per capita, income share of top 10, the unemployment rate, and women’s representation in parliament as a proxy for gender equality are found to significantly increase the likelihood of endorsing efforts to reduce income inequality. Our results remain robust when controlling for alternative income-related variables

Keywords

Income Inequality, Public Perceptions, Well-being, Institutional Trust, Redistributive Policy

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