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Wealth and the WealthyExploring and Tackling Inequalities Between Rich and Poor$
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Karen Rowlingson and Stephen McKay

Print publication date: 2011

Print ISBN-13: 9781847423085

Published to Policy Press Scholarship Online: May 2012

DOI: 10.1332/policypress/9781847423085.001.0001

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Why wealth matters

Why wealth matters

Chapter:
(p.1) One Why wealth matters
Source:
Wealth and the Wealthy
Author(s):

Karen Rowlingson

Stephen Mckay

Publisher:
Policy Press
DOI:10.1332/policypress/9781847423085.003.0001

This chapter considers why wealth is an important issue for social science and, in particular, for social policy. It argues that wealth is an important issue because there has been increasing emphasis placed on personal assets by both Conservative-led and Labour governments in recent years. This shift towards personal assets and more individual responsibility for welfare has, however, failed to achieve its aim of greater individual financial security and well-being, and so, the chapter argues, a new settlement is needed. The chapter also argues that wealth, in the form of personal assets, is important because it plays a different role in people's lives than income. There is growing evidence that wealth might have an independent effect on people's health, prospects and general well-being.

Keywords:   assets, wealth, well-being, financial security, income

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