Distribution of Wealth and Gap

Question 1

Richest 20% own

Answer 1

60% of all wealth

Question 2

Poorest 20% own

Answer 2

0.6% of all wealth

Question 3

Growth in gap is due to (4)

Answer 3

Recession
Right wing privatisation
Increase in house prices
Luck and opportunities differences

Question 4

Marxist

Answer 4

Caused by Capitalism and exploitation of w/c

Question 5

Functionalist

Answer 5

Inequality is functional, someone has to be at the bottom

Question 6

Weberian

Answer 6

Competition means not everyone can be wealthy and the top will try and stay there

Question 7

Kersley and Shaheen (2014)

Answer 7

Globalisation- outsourcing exacerbates gap between low and high skilled workers
Technology- low skilled workers are out of jobs
Political Capture- democracy led by higher income voters who will vote for what benefits them e.g. lower taxes with lower brackets