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eight - Underclass, overclass, ruling class, supernova class

Published online by Cambridge University Press:  01 September 2022

Alan Walker
Affiliation:
University of Sheffield
Adrian Sinfield
Affiliation:
University of Edinburgh
Carol Walker
Affiliation:
University of Lincoln
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Summary

Introduction

One man in his mid-thirties hoped that his six-figure income would grow rapidly, and admitted that his assets would be valued at nearly a million pounds. He held strong views about poverty. ‘There is no poverty. Now you can get money from the state. People don't even have to go to work. You don't have to put up with working in an unrewarding situation.’ He strongly disagreed with the propositions that the gap between rich and poor was too wide and that the rich should be more highly taxed. He strongly opposed the idea of putting limits on ‘some people's expensive way of living’ to reduce poverty and disagreed with the statement that a lot of people entitled to claim benefits do not claim them. Finally, he strongly agreed that cuts in public services like health and education could be made without increasing the number of people in poverty and that, if there was any poverty, it was more likely to be reduced by increasing Britain's wealth than by making incomes more equal. (Peter Townsend, describing the views of one of the new overclass of London, recorded in 1985-86; see Townsend, 1993, p 109)

By 2010 one in ten of all Londoners had the wealth of the man who Peter had described some 25 years earlier as being part of a tiny elite (see Hills et al, 2010). The Hills inquiry into inequality revealed that one in ten Londoners now have wealth of nearly a million pounds, some 273 times the wealth of the poorest tenth of today's Londoners. The Sunday Times Rich List of spring 2010 reported that the wealth of the richest 1,000 people in Britain had risen by 30% in just one year. And this was not any old year, but the first full year after the economic crash of 2008. Above the overclass, above the ruling class, the wealth of a new supernova class was exploding in size.

As the pound fell against other currencies, property values in Kensington and Chelsea, the richest borough in the world, escalated, while housing prices almost everywhere else in Britain fell, or rose only slightly.

Type
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Fighting Poverty, Inequality and Injustice
A Manifesto Inspired by Peter Townsend
, pp. 153 - 174
Publisher: Bristol University Press
Print publication year: 2011

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