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Living on different incomes in London: can public consensus identify a 'riches line'?

Author

Listed:
  • Davis, Abigail
  • Hecht, Katharina Maria
  • Burchardt, Tania
  • Gough, Ian Roger
  • Hirsch, Donald
  • Rowlingson, Karen
  • Summers, Katherine Elizabeth

Abstract

London is home to vast and visible economic inequality, where the richest 10 per cent own 61 per cent of overall wealth, while at the same time four in ten Londoners do not earn enough for what is considered by the public to be a decent standard of living. This study sought to explore opinions about what constituted a standard of living that could be considered ‘fully flourishing’, and, by extension, if there was a point beyond that at which individual or household resources could be identified as being excessive. The findings provide thought-provoking insights into how people think about the protection wealth and higher incomes offer, and the judgements they make about the ‘deservingness’ of different sources of wealth and the uses to which it is put.

Suggested Citation

  • Davis, Abigail & Hecht, Katharina Maria & Burchardt, Tania & Gough, Ian Roger & Hirsch, Donald & Rowlingson, Karen & Summers, Katherine Elizabeth, 2020. "Living on different incomes in London: can public consensus identify a 'riches line'?," LSE Research Online Documents on Economics 121513, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:121513
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    References listed on IDEAS

    as
    1. Marcelo Medeiros, 2006. "The Rich and the Poor: The Construction of an Affluence Line from the Poverty Line," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 78(1), pages 1-18, August.
    2. Abigail McKnight, 2019. "Understanding the relationship between poverty, inequality and growth: a review of existing evidence," CASE Papers /216, Centre for Analysis of Social Exclusion, LSE.
    3. Ingrid Robeyns, 2019. "What, if Anything, is Wrong with Extreme Wealth?," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 20(3), pages 251-266, July.
    4. Hills, John & Mcknight, Abigail & Bucelli, Irene & Karagiannaki, Eleni & Vizard, Polly & Yang, Lin & Duque, Magali & Rucci, Mark, 2019. "Understanding the relationship between poverty and inequality: overview report," LSE Research Online Documents on Economics 100396, London School of Economics and Political Science, LSE Library.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    income; wealth; rich; inequality; poverty;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • D10 - Microeconomics - - Household Behavior - - - General

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