The impact of economic crises on social well-being in society is studied. The cause-and-effect relationships of economic and social instability, as well as the role of state policy in mitigating the social consequences of economic crises are considered. The impact of economic downturns on income inequality and social stratification, as well as the adaptation possibilities of local communities in the face of economic difficulties are analyzed. Special attention is paid to the psychological impact of economic crises on the mental health of the population.