Perceptions of Wealth Inequalities are Related to Subjective Social Status

• In Event: Poster Session 05
  In Poster Session: PS 05 Topic -Diversity, Equity & Social Justice

Abstract

Given that wealth inequalities have increased in many countries around the globe, a burgeoning area of research has focused on adolescents’ and adults’ perceptions of wealth inequalities (Arsenio, 2015; Ruck, et al., 2019). Understanding psychological attitudes about wealth inequalities is necessary for creating effective programs and policies geared towards rectifying inequalities and providing basic human needs for all (Elenbaas, 2019). While individuals who underestimate wealth gaps are less likely to view inequality as an urgent problem, individuals who have accurate perceptions may be more open to interventions aimed at equity. What has not been studied is whether wealth distribution perceptions are related to one’s own wealth status, or how these judgments change from childhood to adulthood. The current study tested age-related changes regarding perceptions of wealth inequalities and how these perceptions are impacted by subjective social status.
Children (n = 119, Mage = 9.99, SD = 0.69), adolescents (n = 60, Mage = 13.84, SD = 0.43), and young adults (n = 26, Mage = 20.70, SD = 1.49) from the Mid-Atlantic region of the United States completed a survey targeted at identifying how perceptions of wealth distribution in the U.S. relate their own subjective social status. Participants first answered the societal wealth distribution assessment (Evans & Kelley, 2017), which depicts five images of wealth distribution in society, ranging from strongly unequal (1) to very egalitarian (5). They chose the distribution they perceived as most similar to the U.S. Participants also indicated their subjective social status (SSS) on a 10-rung ladder representing their hometown, where the top of the ladder represented people in their hometown with the most money and the bottom of the ladder represented those with the least (Goodman, et al., 2015).
Preliminary analyses revealed a main effect of age on perceptions of U.S. wealth distribution, F(2, 205) = 6.08, p = .003, η_p^2 = .06. Overall, children perceived the U.S. as more egalitarian than did adolescents and adults (see Figure 1).
There was also a significant interaction between age and SSS on perceptions of U.S. wealth distribution, F(2, 205) = 4.34, p = .014, η_p^2 = .06 (see Figure 2). Among participants with lower SSS, young adults had less egalitarian (more unequal) perceptions than did adolescents and children (ps < .05). Among participants with higher SSS, adolescents displayed fewer egalitarian perceptions than did children (p =.036) but not young adults (p > .05).
Further, adolescents with lower SSS perceived the U.S. as more egalitarian than did adolescents with higher SSS (p = .019). Young adults with lower SSS perceived the U.S. as marginally less egalitarian (more unequal) than young adults with higher SSS (p = .052). There were no differences in children’s perceptions of wealth distribution based on SSS (p > .05). Additional data collection will provide a fuller explanation of the demographic and age variables contributing to the findings.
Overall, the findings suggest that egalitarian perceptions of wealth distribution decline with age, and these perceptions are related to one’s subjective social status.

Authors

• Arvid Samuelson, University of Maryland - College Park
  Presenting Author

• Amanda Rose Burkholder, Furman University
  Non-Presenting Author

• Melanie A. Killen, University of Maryland - College Park
  Non-Presenting Author