The erosion of democracy in an age of wealth inequality: Unravelling the impact of subjective socioeconomic stratification.

This article examines the relationship between rising wealth inequality and the stability of democratic institutions, focusing on how subjective perceptions of social class influence support for democracy. Using data from the World Values Survey and various wealth inequality and democracy indices, the study finds that increasing wealth disparities reduce the proportion of individuals identifying as middle class—a group that generally shows stronger support for democratic governance. Both the subjective lower and upper classes exhibit diminished support for democracy, with the lower class often distrustful and susceptible to populism, and the upper class wary of democratic processes that might threaten their interests. The findings suggest that growing wealth inequality may undermine democratic stability by shrinking the middle class and polarizing political attitudes, highlighting the importance of addressing wealth disparities to sustain democratic institutions.