Sociology Essay

1273 WordsFeb 10, 20156 Pages
24 mark question: Examine some of the explanations for excessive wealth ownership in the UK, and explain why attempts to redistribute wealth have largely failed Excessive wealth ownership can be dealt with in a different variety of ways; there are a lot of reasons to why people become excessively rich and how they sustain their wealth. Wealth = the ownership of assets, and wealthy people are considered to have well beyond what is considered wealthy in society. Typical assets would include: Properties, luxury items, such as cars and jewellery, share ownerships of businesses, land and capital. One way in which we can explain excessive wealth in the UK is by the rich expanding their money, they can do this by investing a large sums of money in to various things, these could be businesses, and buying shares, therefore making a profit, another investment could be leasing offices and land, this could increase their wealth because leasing allows a steady and reasonably wealthy income added on top of the money the excessively rich individual owns. A second way is ownership over a large sum of capital. Large capital owners provide sources of money which can then be used for a variety of loan purposes which can bring interest profits, obviously, the higher the amount of capital, the higher the interest profits, which is why the rich keep on getting richer and the poor keep on getting poorer. There are two types of wealth, marketable wealth and non – marketable wealth which both contribute to excessive wealth ownership in the UK. Marketable wealth is wealth that can be bought and sold (assets), by selling and buying capital such as euros, sterling, it can bring profits to the individuals and be bought and sold on for more. Non- marketable is wealth that can be not bought and sold e.g. pensions. The main sources of rich people’s wealth and the reason for them being

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