Final answer:
Not promoting equality or reducing poverty can lead to short-term consequences such as increased crime and poor health outcomes, and long-term effects like economic stagnation and reduced consumer base. Continuous poverty cycles and educational disparities are profound social consequences, while suppressed business growth and higher government spending are significant economic impacts.
Step-by-step explanation:
The effects of not promoting equality or working to reduce poverty have both immediate and long-term consequences. In the short-term, failure to address inequality can lead to increased rates of crime, poorer health outcomes among the disadvantaged, and create divides within the community. In the long-term, it could potentially contribute to economic stagnation due to a reduced consumer base, increased societal tensions, and hindered social mobility.
Social consequences include the perpetuation of educational disparities and an ongoing cycle of poverty, while the economic impact can suppress business growth and innovation due to a less educated and less healthy workforce. Additionally, the failure to promote equality and reduce poverty can lead to increased government spending on healthcare and social services as a result of higher incidence rates of disease and poverty-related issues.