Preview

The Corruption of the Banking System

Powerful Essays
Open Document
Open Document
2186 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Corruption of the Banking System
How has government policy in the UK affected the tradition class system?
Sections

1. Introduction to the class system (Social Structure) of the UK
2. Government and Banking Policies that affect the class system
3. Primary Research

Introduction to the class system (Social Structure) of the UK
With an increase in population in the UK, naturally comes a bigger division in the class system, the division is helped greatly by government policies and banking policies that control the way that wealth is distributed. Many people believe that certain government parties are biased towards the upper class. The political party known as the Conservatives or ‘the Tories’ are massively known for this. There are many different policies and concepts that surround and back the phrase, ‘Keeping the Rich, Rich and the Poor, Poor’. The banking system is one of the main controlling factors, as it controls how money is distributed and spent.
The class system is a division in the population, divided into three groups, Upper, Middle and Working class. Traditionally the working class was known, as people who worked in ‘blue-collar jobs’ these are jobs that are manual labour. The stereotyped people who work in these jobs are unskilled or semi-skilled school leavers that left school at the earliest legal age. Blue-collar jobs involve jobs such as working on assembly lines, machine shops, steel mills and coal mines.
Middle class people are divided into three different sub groups, upper middle, middle middle, and lower middle. Lower middle class people usually work in white-collar jobs this refers to a person who performs professional, managerial, or administrative work, in contrast with a blue-collar worker, whose job requires manual labour. Typically, white-collar work is performed in an office type environment.
The middle middle class often consists of people with tertiary education. They may have been educated in either state or private schools. The typical jobs they would



Bibliography: Info on the social structure -http://en.Wikipedia.org/wiki/Social_structure_of_the_United_Kingdom News Story - http://www.dailymail.co.uk/news/article-2192822/Even-recession-rich-richer-Savers-hit-70bn-printing-money-helps-rich-admits-Bank-England.html What the government can do to help the situation - http://www.economist.com/economist-asks/should_government_do_more_close_gap_between_rich_and_poor Starbucks tax evasion - http://www.bbc.co.uk/news/business-19967397/business-19967397 Google tax evasion - http://www.thedrum.com/news/2012/12/13/google-boasts-12bn-tax-evasion-good-capitalism Facebook tax evasion - http://www.politics.co.uk/news/2012/10/11/facebook-condemned-over-tax-avoidance/news/2012/10/11/facebook-condemned-over-tax-avoidance

You May Also Find These Documents Helpful

  • Good Essays

    For as long most people can remember, the middle class has been the economic majority in the United States. In Edward McClelland's article "RIP, the Middle Class: 1946-2013", McClelland argues the sooner than later, the middle class will be merely nonexistent and the economy will only consist of rich and poor. He casually explains to middle class American citizens what the past middle class looked like, how the middle class stands now, and some hardships that people of the recession experienced. Growing up in the 1970's, McClelland describes how someone didn't need to graduate high school to obtain a job that could support a family, but now, in the twenty-first century, even with a high school diploma and four years of college education, no well paying jobs are promised. In this article,…

    • 985 Words
    • 4 Pages
    Good Essays
  • Good Essays

    lower class(poverty)/working class are blue-collar workers a the “bottom” they work in manufacturing jobs, janitors, etc.…

    • 784 Words
    • 4 Pages
    Good Essays
  • Good Essays

    In the essay of "Class in America-2003" by, Gregory Mantsios is basically about the rich and the poor of America. In Mantsios essay he talks about upper class, middle class, and lower class Americans. The most common clad the Gregory Mantsios talks about is the middle class. The reason middle class Americans are talked about so much in this essay is because; the majority of the American population is middle class people. Mantsios discuses a few points o how…

    • 756 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Anywhere from 25% to 66% of households in the U.S. today belong to the middle class, but what exactly determines if a worker or family is considered middle class? How was the middle class created, and which events have had an effect on the middle class over the decades? This paper aims to answer those questions, as well as taking a look at the impact of specific collective bargaining gains and attacks on public sector bargaining.…

    • 729 Words
    • 3 Pages
    Good Essays
  • Good Essays

    The middle class felt depreciation towards labor and the working class while the working class were overburdened and exhausted by their occupation and felt resentment for other employees; however a few middle class citizens crossed the social class line to tell of the burden the working class had to carry. Although the working class pulled off their jobs, they were belittled and ignored. If they were thought of, it was usually in a poor way. At least there were some middle class citizens who believed in the plight of the working class.…

    • 793 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Before the Industrial Revolution, there were two major classes that were the nobles and the peasants. However, when the Industrial Revolution occurred new social groups developed that was called the upper class, the middle class and the working class. The working class was considered as the poor class. It was made up of the poor people that worked in the factories for whole days for a small amount of money. The upper class consisted of wealthy people. They lived outside the country and had longer lives because they could afford medication if diseases spread. In the middle class were the doctors, the factory owners and the lawyers. They were similar to the upper class. The only difference between these two classes was that the middle class did not have servants like the upper class, but some of the people had nannies to look after their…

    • 612 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Explain and briefly evaluate how working class identities are created and reinforced in the contemporary UK…

    • 641 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    DD102

    • 1503 Words
    • 4 Pages

    The identity of ‘class’ is often called the ‘unspeakable identity’. The reason for this may be that class refers to inequalities based on a small group of people that occupy a greater position within society. Class identity can therefore be defined as ‘a group or collective identity that links economic inequality and social differences, including superior or inferior status and differences of family background and lifestyle’ (Open University, 2015). Inequalities of class are part of British social history with famous theorist Karl Marx being one of the first social scientists to focus on social class. According to Marx there are two classes of people within society, these being the bourgeoisie and the proletariats, or in other words the employers and the workers.…

    • 1503 Words
    • 4 Pages
    Powerful Essays
  • Powerful Essays

    Sociology Final Exam

    • 2046 Words
    • 9 Pages

    1.)Social class is a “class society, a set of concepts in the social sciences and political theory centered on models of social stratification in which people are grouped into a set of hierarchical social categories”( Grant,2001,p.161). The most common being the upper, middle, and lower classes. The upper class consist of people or families that represent institutional leadership, heads of multinational corporations, foundations, and universities. They are people who have finical stability and are well educated due to their finical income. Most commonly in American society today people fall in the middle class category. Middle class is made of people and families that are involved in clerical work, provide professional support, and engage in data collection. Even though they are educated based on local school systems they are not given the luxury education that you would fine with upper class. Last but not least you have the lower class. The lower class is commonly the hardworking of them all. They work full-time at wages below poverty line and commonly are on some type of social services help such as Medicaid or food stamp program (EBT).Even though they are entitled to education they commonly would rather work to just get by day to day due to finical struggles. Based on these classes’ people in today’s society have certain criteria that are used to determine ones place within the social class scale. Three most common criteria used to measure social class is wealth (property), power and prestige.…

    • 2046 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Resume

    • 1366 Words
    • 6 Pages

    The middle class is defined not by a class of people in the middle of a social hierarchy, but rather as a façade of the so-called “American dream.” New York based author and historian, Stuart Ewen, in his essay “Chosen People,” published in “Literacies” by W.W. Norton & Company Inc. in 1997 addresses the topic of the middle class and argues that social status and class are characterized by patterns of consumerism. Americans today ask themselves what the true “American dream” consists of and many face a harsh reality that this dream is not an easy lifestyle to live. Ewen and other authors, Ira Steward and Alan Dawley, go into detail focusing upon the true middle class lifestyle and how this dream becomes an unattainable goal for more Americans every year.…

    • 1366 Words
    • 6 Pages
    Good Essays
  • Better Essays

    Many studies have been conducted to define middle-class without much success. It has been attempted to relate it to annual income. One study states that yearly incomes between $32,900 and $64,000, another between $50,800 and $122,000, and the U.S. census bureau middle 60% of incomes is the largest range of all lies between$ 20600, and $102,000 as what defines middle-class. Dan Horn notes in the Cincinnati Enquirer “Psychologist Ken Eisold, a contributor to Psychology today, said, though, that the way people describe their social status has more to do with what’s going on in their heads than their wallets.” Eisold goes on to say that “it’s really more about identity”. Horn adds that Julie Heath, director of the University of Cincinnati’s Economics Center agrees with Eisold that saying, “We’re a middle-class family has more than a financial connotations to it, it has a salt-of the earth to it. That’s the bed rock.” Essentially this shows that Americans do not base their social status on their income alone, but also on their personal accomplishments and views of where they have come from and where they are going. That being said, the bed rock of the middle-class comes from one of the most common descriptions what living in America is all…

    • 1199 Words
    • 5 Pages
    Better Essays
  • Good Essays

    I Love Being Poor

    • 1017 Words
    • 5 Pages

    So let’s begin with the simplest question first. What is the difference between the rich, the middle class, and the poor? The vague answer would simply be the amount of money they own or make. In all honesty the obvious explanation is the work ethic and the experience. For example poor people most likely won’t have the opportunity to do things that people with more money will be able to do. Therefore they won’t have enough/the same experience. In result they won’t qualify for high paying jobs. As far as their work ethic some poor people have very good work ethic and others don’t. For the simple fact that some poor people don’t like how they live and are determined to “get out of the hood.” While other poor people just accept that being poor is their life.…

    • 1017 Words
    • 5 Pages
    Good Essays
  • Better Essays

    The social structure of Britain has been highly influenced by the concept of social class. In sociology, the term ‘social class’ is most often used to refer to the primary system of social stratification found in modern capitalist societies. Social stratification refers to ‘the presence [in society] of distinct social groups which are ranked one above the other in terms of factors such as prestige and wealth’.…

    • 1749 Words
    • 7 Pages
    Better Essays
  • Good Essays

    The middle and lower levels are portrayed as working classes. They are not wealthy as the upper class, but they do have a bit (the middle class more than the lower servant class). Neither of these classes could afford carriages and had to walk; Wilson, the exemplar character for the middle tier, "had…

    • 624 Words
    • 3 Pages
    Good Essays
  • Good Essays

    I have been privileged enough to been raised in the upper middle class. This is because of my parent’s professions. As soon as I joined the military and was responsible for my own expenses, I become lower middle class. Once I exited the military and became a massage therapist and holistic health practitioner, I entered a middle class. Once I finishing my bachelor’s degree and become a Business Analyst, I will be in the upper middle class.…

    • 338 Words
    • 2 Pages
    Good Essays