The Social Cost of Inequality: Financial Ostracism Experiences Lower Satisfaction with the National Economy Across Eleven Countries.

Abstract

As economic inequality rises, the experience of being left out and ignored due to financial disadvantages may critically shape attitudes toward the economy. This study introduces the concept of financial ostracism (i.e. the sense of being avoided due to being less financially well-off) and examines its link to (dis)satisfaction with the economy across eleven European countries (Austria, Belgium, Czech Republic, Finland, France, Iceland, Italy, Portugal, Slovenia, Sweden, and the UK; N = 5,765). In Bayesian multilevel analyses, financial ostracism is a credible predictor of dissatisfaction with the economy's current state, even when controlling for demographic variables, general ostracism experiences, and country-level wealth inequality. Alongside household income, financial ostracism emerges as the strongest predictor of economic dissatisfaction. In conclusion, as societies grapple with simultaneously growing economic and social divides, addressing financial ostracism as an interpersonal facet of inequality may be essential for restoring confidence in economic systems.