'How the other half lives'?: Taking a critical approach to the social psychology of economic inequality and extreme wealth

The negative impact of economic inequality on social issues and wellbeing is of importance to social psychology that historically has an interest in social justice. Social Identity Theory is explored as an approach that acknowledges the wider context of social issues. The use of experiments encounters challenges in categorizing wealth and how individuals account for extreme wealth. Mainstream research agendas in psychology are not neutral and draw upon current ideology (such as neoliberalism) that can often maintain inequality. These difficulties are addressed by Critical Social Psychology driven by a social justice agenda that challenges the acceptance of neoliberal values. The application of Critical Social Psychology to wealth inequality is demonstrated with research using UK media data. Critical feminist psychology is discussed to explore the role of class and how to challenge the stigmatization of working-class people. Finally, this paper outlines how Discursive Psychology addresses how extreme wealth and the practices of the super-rich are warranted. A discursive approach questions the acceptance of wealth inequality as an everyday assumption and demonstrates how dominant discourse draws upon individualism. Furthermore, Discursive Psychology has examined how accountability for problematic practices, such as tax avoidance that maintain inequality, are managed in media broadcasts.

Automated summary

This paper discusses the negative impact of economic inequality on social issues and wellbeing, and its importance to social psychology, which has a historical interest in social justice. It explores the use of Social Identity Theory as an approach to understanding social issues in a wider context. Challenges in categorizing wealth and accounting for extreme wealth in experiments are encountered. Mainstream research agendas in psychology are influenced by current ideology, such as neoliberalism, which perpetuates inequality. These challenges are addressed by Critical Social Psychology, which challenges the acceptance of neoliberal values and promotes social justice. The application of Critical Social Psychology to wealth inequality is demonstrated through research using UK media data. Furthermore, Critical Feminist Psychology is discussed in relation to class and challenging the stigmatization of working-class people. The paper also outlines how Discursive Psychology questions the acceptance of wealth inequality as the norm and examines how the practices of the super-rich are justified. It explores how dominant discourses draw upon individualism and examines how problematic practices like tax avoidance, which maintain inequality, are managed in media broadcasts.