"SES is an economic and sociological combined total measure of a person's work experience and of an individual's or family's economic access to resources and social position in relation to others."
The ways in which income and wealth impact a person's social standing and access to resources and opportunities.
Income Inequality: The unequal distribution of income within a society, which is often measured by the Gini coefficient.
Wealth Inequality: This refers to the unequal distribution of wealth within a society, often caused by differences in net worth, asset ownership, and the value of property.
Social Mobility: The ability of individuals to change their social position within a society. It can be upward or downward and is influenced by factors such as education, occupation, and income.
Social Stratification: It refers to the hierarchical organization of society based on socioeconomic factors like income, wealth, and occupation.
Poverty: The state of being extremely poor, which is often defined as earning less than a certain income threshold.
The ‘Culture of Poverty’: The concept that holds that poverty is the result of the poor people's values, behaviors, and culture.
Income Sources: The different sources from income, such as earned income, investment income, government income, and transfers.
Economic mobility: The ability of an individual or a family to move between economic classes over time.
Class consciousness: The awareness of one's social and economic position and the understanding of one's income and wealth levels.
Perceived fairness: The perception of income and wealth distribution, which is often subjective and differs among individuals.
Intergenerational Mobility: This relates to one's social and economic position in relation to family or the generational group.
Occupational Class: This refers to the different levels of work status or positions, including manual, skilled, professional, or managerial positions.
Education: Education level and attainment are critical in measuring social stratification and examining economic opportunities.
Wealth creation: Wealth creation refers to the creation of value and assets that are expected to increase in value over time.
Social Capital: Social capital refers to the network of relationships that individuals or groups have within a society that can be used for social, economic, or political benefits.
Power: Power refers to the ability to influence or control others, often within the context of economic, social, or political systems.
Social Exclusion: The process of preventing some individuals or groups from participating fully in society, often due to a lack of access to opportunities or resources.
Global Income Inequality: The unequal distribution of income and resources on a global scale, which often leads to disparities between countries and regions.
the Role of Government: Different government policies can impact income and wealth distribution, including taxation systems, social welfare programs, and minimum wage laws.
The Impact of Technology: Technology also plays a role in shaping income and wealth distribution, such as automation or the rise of digital industries.
Working-Class Income: This type of income refers to the earnings of people who hold manual or non-managerial jobs, such as factory workers, retail salespeople, and construction workers.
Middle-Class Income: This type of income refers to the earnings of people who hold professional, managerial, or administrative jobs, such as doctors, lawyers, and executives.
Upper-Class Income: This type of income refers to the earnings of people who hold high-ranking executive or professional jobs, such as CEOs, top-ranking lawyers, and investment bankers.
Inherited Wealth: This type of wealth refers to the money and assets passed down from parents or ancestors.
Entrepreneurial Wealth: This type of wealth refers to the assets and income generated by entrepreneurs who create and run their own businesses.
Investment Income: This type of income refers to the earnings generated by investments, such as stocks, mutual funds, and real estate.
Trust Fund Income: This type of income refers to the earnings generated by trusts set up by wealthy families to hold and distribute assets.
Inheritance Income: This type of income refers to the money or assets received from a family member who has passed away.
Social Welfare: This type of income refers to financial assistance provided by the government to low-income individuals and families, such as temporary assistance for needy families (TANF) and supplemental security income (SSI).
Freelance/Contract Work: This type of income refers to the earnings generated by freelancing or contract work, such as graphic design or consulting.
"The household income, earners' education, and occupation are examined, as well as combined income."
"For an individual's SES, only their own attributes are assessed."
"Perceived financial stress defines the 'balance between income and necessary expenses' and can be tested by deciphering whether a person at the end of each month has more than enough, just enough, or not enough money or resources."
"SES is more commonly used to depict an economic difference in society as a whole."
"Socioeconomic status is typically broken into three levels (high, middle, and low)."
"Any or all of the three variables (income, education, and occupation) can be assessed."
"Education in higher socioeconomic families is typically stressed as much more important, both within the household as well as the local community. In poorer areas, where food, shelter, and safety are a priority, education is typically regarded as less important."
"Youth audiences are particularly at risk for many health and social problems in the United States, such as unwanted pregnancies, drug abuse, and obesity."
"Low income and education have been shown to be strong predictors of a range of physical and mental health problems, including respiratory viruses, arthritis, coronary disease, and schizophrenia."
"These problems may be due to environmental conditions in their workplace, or, in the case of disabilities or mental illnesses, may be the entire cause of that person's social predicament to begin with."