On average, it is the richest subjects who are most affected. This line of research suggests that inequalities create tensions within given social groups and lead to backlashes. These results are consistent with recent studies which attempt to account for the “happiness” of individuals in terms of a series of parameters, including income. In this context, the Easterlin paradox is well-known.
Furthermore, it is also important to bear in mind  2  See International Monetary Fund (2018): “Global Trade Tensions”, Scenario Box 1 in Chapter 1 of World Economic Outlook, October.