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

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

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

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.

Keywords: income; wealth; rich; inequality; poverty (search for similar items in EconPapers)
JEL-codes: D10 R00 (search for similar items in EconPapers)
Pages: 43 pages
Date: 2020-02-14
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:121513

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