Synopses & Reviews
The wealthy have received relatively little attention from social scientists despite the growing gap between rich and poor. A much-needed step forward for the wealth debate, Wealth and the Wealthy draws on new data to answer the following key questions: What is wealth? Who has it? Where might we draw a wealth line? Who would be above it? And how should policy address wealth and the wealthy? Karen Rowlingson and Stephen McKay comprehensively and critically examine these issues and explore potential policy responses, including asset-based welfare and taxation.
Review
"This thoughtful and far-reaching critical analysis of the 'problem of riches' is a timely contribution to the debate on inequality. It deserves to be widely read."
Synopsis
Wealth and the wealthy have received relatively little attention from social scientists despite a growing wealth gap. Aimed at a broad social science and public readership, this book draws on new data on wealth to answer the following key questions: What is wealth? Who has got it? Where might we draw a 'wealth line'? Who lies above it? And what might policy do about wealth and the wealthy? Using data sources from the HMRC to the Sunday Times Rich list, this book provides a comprehensive and critical discussion of these issues, and looks at potential policy responses, including 'asset-based' welfare and taxation.
Synopsis
Using many data sources, this timely book provides a comprehensive discussion of issues of wealth, looking at potential policy responses, including 'asset-based' welfare and taxation.
About the Author
Karen Rowlingson is professor of social policy and director of the Centre on Household Assets and Savings Management at the University of Birmingham.
Stephen McKay is professor of social research in the School of Social Policy at the University of Birmingham.
Table of Contents
List of tables and figures
Acknowledgements
About the authors
Introduction
Chapter One: Why wealth matters
Introduction
From collective welfare to individual assets
The role of assets in peoples lives
Is there an asset effect?
Conclusions
Chapter Two: Why the wealthy matter
Introduction
The increasing concentration of income and wealth
Is the concentration of income and wealth a social problem?
Is the concentration of wealth good or bad for the economy?
Un/equal opportunities and un/fair rewards
Attitudes to the gap between the rich and the poor
Conclusions
Chapter Three: What is wealth and who are the wealthy?
Introduction
Conceptualising and defining wealth
Measuring wealth
Conceptualising and defining the wealthy
Measuring the wealthy
Conclusions
Chapter Four: The distribution of wealth
Introduction
The distribution of wealth
Combining income and assets
The distribution of assets by age, ethnicity and region
Gender and the within-household distribution of wealth
Inheritance and unearned wealth
Conclusions
Chapter Five: The rich, the richer and the richest
Introduction
The rich
The richer
The richest
Philanthropy and charitable giving
Conclusions
Chapter Six: Towards a comprehensive social policy on assets
Introduction
The goal of a comprehensive policy on assets
Asset-based welfare policies, proposals and perspectives
Policies on housing wealth
Pensions policy
Taxing assets in the UK
Within-household distribution of assets
Conclusions
Chapter Seven: Social policy and the wealthy
Introduction
The goals of policy on riches
Equal opportunity policy
Taxation policy
Policies for original income and wealth
Conclusions
Conclusions
References
Index