In this chapter the authors review the literature in economics, sociology, and management disciplines to evaluate the organizational and societal outcomes of income inequality. Within-organizational income inequality has been shown to link with both attitudinal and behavioral outcomes. The consequences of within-country income inequality are summarized and categorized into six aspects: health, crime, education, politics, social relations, and economic growth. The authors conclude the chapter with a proposal for social innovations that organizations and government may conduct to alleviate the problem of income inequality and directions for future research to address.