eli5 English Peerage

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I just started reading The Pillars of the Earth and I’ve tried looking up the peerage system understand that its a hierarchical system but nothing really clearly explains what benefits, duties, and roles these different classes have overall. Is someone able to explain to me for example what would be different between and Earl and a Duke, or a Marquess for example?
Are these titles sometimes symbolic? As it seems sometimes someone of lower rank can be considerably more powerful than someone of a higher one. Unless I’m mistaken on that front.
Thanks!

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In formal settings today, the rank order from highest to lowest is duke, marquess, earl, viscount, baron. Each of them may be addressed as “lord” and historically their titles were all hereditary. You may also read about baronets, who have a hereditary title, and knights, who usually don’t, but these are both commoners addressed as “sir.”

The formal ranking doesn’t necessarily correspond to political or economic power–it generally takes some kind of power and reputation to acquire a rank for yourself and your descendants, but the title can last a lot longer than the family’s power does. On the other hand, your title gives you access to opportunities for power that other people don’t have. Think of it as an acknowledgment of power (large land holdings especially), a way to reward loyal servants (like those the king appointed to high offices), and in turn, a claim for privileged access for the descendants. Usually the higher titles were awarded to someone who is already of the peerage, so that a family couldn’t acquire status too quickly.

The distinction between titles is often a medieval one that might be hindering than helpful. For example a marquess holds a march, which historically was a border area that needed special protection, and compared to other nobles the marquess received special privileges in exchange for seeing to its defense. Yet depending on when you are reading about, that may not be relevant anymore and the distinction may only be a formal one.

Especially in the 19th and early 20 century, many commoners became barons through cultural or scientific achievements or as a reward for government service. Today the policy is to no longer to award hereditary peerages, though people still get “life peerage” which is a non-hereditary barony, so that they can sit in the House of Lords (and are ineligible to sit in the Commons).

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