I highly recommend watching this TED talk in it’s entirety. Richard Wilkinson, a researcher from Britain, walks through empirical evidence of the impact that high income inequality in countries has on things like health, crime, and even trust.
Something that really stuck out for me is the correlation between income inequality and social mobility. The idea of social mobility essentially asks “How much of a predictor is my father’s income on my own success?”
The American dream is based on the idea of social mobility and the belief that through hard work and dedication I can give my own offspring a chance at a better life than I have. That dream is becoming less and less a reality in the U.S.. Richard Wilkinson sums up the idea best with his quote:
“If Americans want to live the American dream they should move to Denmark”