Wealth in the UK
Distribution, Accumulation, and Policy
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Product details:
- Publisher OUP Oxford
- Date of Publication 23 July 2015
- ISBN 9780198729402
- Binding Paperback
- No. of pages256 pages
- Size 231x171x14 mm
- Weight 388 g
- Language English
- Illustrations Figures and Tables 0
Categories
Short description:
This book looks at the gaps in wealth between the wealthy and the rest of the population, and at how they have changed over time.
MoreLong description:
This book examines key issues connected with the distribution of personal wealth in the UK. It studies why wealth is now such an important factor in social differences and public policy. It presents the most recent information on current wealth inequalities and a detailed discussion of trends in the distribution of wealth. It uses newly available data to compare wealth inequalities in the UK with the USA, Canada, and Sweden. It uses longitudinal data, which track the same people over time, to examine trajectories in wealth accumulation over the decade to 2005 and inequalities in inheritances over the same period. It looks at how parental wealth levels and people's asset-holdings early in adulthood affect outcomes later in their lives. The final part looks at the way in which policies towards wealth-holding developed historically, and the contradictory ways in which a wide range of public policies relate to people's wealth levels, including through taxation, means-testing, and the encouragement of saving, and discusses what the key issues for policy towards wealth and wealth inequalities now are.
Personal wealth in the UK totalled ?5.5 trillion by 2010 (?9-10 trillion if occupational pension rights are included). Inheritance flows are now equivalent to 4 per cent of national income each year. All households in the wealthiest tenth have more than 75 times the wealth of any of those in the bottom tenth. Absolute differences in wealth levels have increased substantially over the last 15 years, so wealth differences represent many more years of income than in the past. This makes them of great importance to life chances. This makes the book highly relevant for public policy, but also for academic and student understanding of a crucial dimension of social difference.
As well as bringing together existing information on the area, the book contains considerable new analysis on wealth inequality, inheritance, and their impacts, drawing on work which is at the forefront of recent research.
The authors have put together a number of complementary chapters that are of interest and will be useful for researchers and students in a wide range of fields...an excellent contribution to the debate on wealth inequality.
Table of Contents:
PART I: WEALTH AND DISTRIBUTION
Introduction
Trends in the Distribution of Wealth in Britain
UK Wealth Inequality in International Context
PART II: PERSONAL WEALTH ACCUMULATION AND ITS IMPACTS
Wealth Accumulation, Ageing, and House Prices
Inheritance, Transfers, and the Distribution of Wealth
The Wealth Effect: How Parental Wealth and Own Asset-Holdings Predict Future Advantage
PART III: WEALTH AND POLICY
Differing Public Policy Traditions
Public Policy, Wealth, and Assets: A Complex and Inconsistent Story
Wealth and Policy: Where Do We Go From Here?
