Tags: psychology - wealth inequality

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How social inequality fuels political division

TED TALK: How social inequality fuels political division | Keith Payne

"If we want to fix our politics, we have to do something about inequality," says social psychologist Keith Payne. Showing how economic inequality changes the way people see and behave towards one another, Payne helps explain the rise of the political polarization that's slicing up society -- and challenges us to think twice the next time we dismiss someone over politics.
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The wealth gap: How changing fortunes tear close friends apart

The wealth gap: How changing fortunes tear close friends apart

It’s not uncommon for friendships to end because of finances – whether a sudden salary rise or fall. But with care and forethought it is often possible to prevent the rupture

When David Matcham and his wife adopted a baby boy in 2013, their financial situation promptly hit rock bottom. Matcham, 44, from Norfolk, had just completed a PhD, and was looking for work. They were broke; poorer than either of them had been at any point in their lives, even when they were students.

For more than a year, Matcham became a social recluse. In part, this was out of necessity – he had no money for socialising – but it was more than that. His sense of self-worth was in the red. “I felt as if I didn’t matter any more, I had made such a mess of things,” he remembers. The anxiety around his finances was all-consuming. Matcham didn’t feel he could confide in his friends because he was ashamed. “My main fear was that they would think I was asking them for money,” he says. “I was just too embarrassed.”

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