The term upper class refers to a group of individuals who occupy the highest place and status in society. These people are considered the wealthiest, lying above the working and middle class in the social hierarchy. Individuals who make up the upper class have higher levels of disposable income and exert more control over the use of natural resources. While the upper class makes up a small percentage of the overall population, it controls a disproportionately large amount of the overall wealth.
Key Takeaways
- The upper class occupies the highest place and status in society.
- They possess higher levels of disposable income and control more natural resources.
- Despite being a smaller percentage of the population, they control a large portion of the overall wealth.
Unpacking the Upper Class
The upper class represents the highest echelons of the socioeconomic ladder, defined by immense wealth, status, and power. These individuals enjoy political, economic, and financial clout, historically dominated by land-owning nobility and aristocrats who inherited their wealth or lived off of their investments. This exclusive circle, once reserved for large, wealthy families, has expanded over time to include celebrities, politicians, investors, and other affluent individuals.
A study from the Pew Research Center in 2018 revealed that 19% of American adults belonged to upper-class households, earning a median income of $187,872 in 2016. This wealth fostered a significant gap in income and influence compared to middle and lower classes. The upper class not only wields significant control over economic and political developments but also influences societal norms and values.
While comparatively fewer in number, the significant economic output of the working and middle classes and their consumption roles are vital due to the vast resources they require. Therefore, the economic mechanisms influenced by the upper class intersect with those driven by the larger middle and working classes.
Comparing Classes: A Journey Through Social Layers
Distinguishing the upper class from other social strata are primarily income and power. The middle class usually occupies a space between the upper and lower classes, characterized by a fluid composition tied to income, education, and social status. Professionals, civil servants, and property owners predominantly embody this group.
In contrast, the working or lower class often engages in low-paying, blue-collar jobs demanding physical labor with limited skill requirements. Historical and emerging economies initially only distinguish between working and upper classes. However, as economies advance, infrastructure improvements create a burgeoning middle class that fuels further economic development with its rising disposable income.
A further stratification appears within the middle class, forming an upper-middle class of resourceful individuals or those with higher education levels. These people, often professionals such as doctors and lawyers, earn significantly more than average middle-class but don’t reach the market’s elite’s wealth—coherence of economic affluence paving a complex social tapestry.
The narrative of the upper, middle, and working classes is pivotal to comprehending societal operation, wealth distribution, and the intricate balance of economic power and social dynamics.
Related Terms: middle class, lower class, wealth, income, economic power.
References
- Pew Research Center. “The American Middle Class Is Stable in Size, but Losing Ground Financially to Upper-Income Families”.
