Define socioeconomic status (SES). Briefly describe the characteristics of the upper class and the middle class in the United States.

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Answer 1

Answers will vary.Socioeconomic status (SES) is an overall ranking of a person's position in society based on income, education, and occupation.The upper class can be divided into two groups-the upper-upper class and the lower-upper class.Upper-upper-class people are the old rich who have been wealthy for generations. Because they value their privacy, upper-upper-class members rarely appear on the lists of wealthiest individuals published by Forbes or other sources. An inherited fortune brings power. They shape the economic and political climate through a variety of mechanisms: Dominating the upper levels of business and finance, holding top political positions in the federal government, underwriting thousands of think tanks and research institutes that formulate national policies, and shaping public opinion through the mass media.The lower-upper class-which is much more diverse than the upper-upper class-is the nouveau riche, those with "new money." Besides business entrepreneurs, the lower-upper class also includes high-level managers of international corporations, those who earn at least a million dollars a year. Some lower-upper class members live modestly, but many flaunt their new wealth. Most of the nouveau riche are unbelievably wealthy. Because they lack the right ancestry and have usually made their money by working for it, however, lower-uppers aren't accepted into old money circles that have strong feelings of in-group solidarity. Still, lower-upper class members engage in lifestyles and rituals that parallel those of the upper-upper class.The middle class can be divided into two groups-the upper-middle class and the lower-middle class.Upper-middle-class members, although rich, live on earned income rather than accumulated or inherited wealth. The occupations of this group usually require a Ph.D. or advanced professional degree. People in this class include corporate executives and managers (but not those at the top), high government officials, owners of large businesses, physicians, and successful lawyers and stockbrokers. A higher level of education is associated with greater occupational prestige and autonomy, as well as job quality and security, but people in these occupations are three times more likely than those in the general population to work 50 or more hours per week. The lower-middle class, more diverse than the upper middle class, is composed of people in nonmanual occupations that require some training beyond high school, and professional occupations that require a college degree. Unlike upper-middle-class jobs, those in the lower-middle class have less autonomy and freedom from supervision, and there is little chance for advancement. Except for some retirement funds, most have only modest savings to cover emergencies.