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Social Advantage and Disadvantage$
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Hartley Dean and Lucinda Platt

Print publication date: 2016

Print ISBN-13: 9780198737070

Published to Oxford Scholarship Online: March 2016

DOI: 10.1093/acprof:oso/9780198737070.001.0001

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Accumulated Advantage and Disadvantage

Accumulated Advantage and Disadvantage

The Role of Wealth

(p.161) 8 Accumulated Advantage and Disadvantage
Social Advantage and Disadvantage

John Hills

Jack Cunliffe

Oxford University Press

For most of the twentieth century personal wealth became less unequally distributed and fell in value relative to incomes. But in recent decades wealth and inheritances derived from it have been growing again relative to incomes, while they remain much more unequally distributed than them. Some wealth inequalities are explained by life-cycle savings, with people building up assets through out their working lives and running them down through retirement. But wealth inequalities within age groups are almost as large as across the population as a whole. They are associated with other socio-economic differences, including social class, housing tenure, ethnicity, and disability status. This reinforces not only patterns of advantage and disadvantage within the current generation, but also of opportunities for their children and grandchildren.

Keywords:   inequality, inheritance, intergenerational transmission, life cycle, wealth distribution

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