Chapter

What is wealth and who are the wealthy?

Karen Rowlingson and Stephen Mckay

in Wealth and the Wealthy

Published by Policy Press

Published in print December 2011 | ISBN: 9781847423085
Published online May 2012 | e-ISBN: 9781447305620 | DOI: http://dx.doi.org/10.1332/policypress/9781847423085.003.0003
What is wealth and who are the wealthy?

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This chapter provides a more detailed discussion about what we mean by the terms ‘wealth’ and ‘wealthy’, as these are often used in different ways, and there has been too little discussion of their conceptualisation, definition and measurement. This book focuses on ‘wealth’ in the form of personal assets, particularly housing, financial and private pension wealth. The term ‘wealthy’ is more complex, and the chapter discusses a range of perspectives, particularly from sociology, on social class and elites. It draws particularly on the work of John Scott to define the wealthy (or rich) as those who can afford more exclusive and private lifestyles.

Keywords: conceptualisation of wealth; private pension; social class; conceptualisation; wealthy

Chapter.  11513 words. 

Subjects: Social Stratification, Inequality, and Mobility

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