in modern societies is thesocial classcomposed of people who hold the highest social status, usually are thewealthiestmembers of society, and wield the greatestpolitical power.According to this view, the upper class is generally distinguished by immense wealth which is passed on from generation to generation.Prior to the 20th century, the emphasis was on, which emphasized generations of inherited noble status, not just recent wealth.
Because the upper classes of a society may no longer rule the society in which they are living, they are often referred to as the old upper classes and they are often culturally distinct from the newly rich middle classes that tend to dominate public life in modern social democracies.citation neededAccording to the latter view held by the traditional upper classes, no amount of individual wealth or fame would make a person from an undistinguished background into a member of the upper class as one must be born into a family of that class and raised in a particular manner so as to understand and share upper class values, traditions, and cultural norms. The term is often used in conjunction with terms likeupper-middle classmiddle class, andworking classas part of a model ofsocial stratification.
Historically in some cultures, members of an upper class often did not have to work for a living, as they were supported by earned or inherited investments (oftenreal estate), although members of the upper class may have had less actual money than merchants.4Upper-class status commonly derived from the social position of ones family and not from ones own achievements or wealth. Much of the population that composed the upper class consisted of aristocrats, ruling families, titled people, andreligious hierarchs. These people were usually born into their status and historically there was not much movement across class boundaries.
Ball incolonial ChilebyPedro Subercaseaux. InSpains American colonies, the upper classes were made up of Europeans andAmerican born Spaniardsand were heavily influenced by European trends.
In many countries, the term upper class was intimately associated with hereditary land ownership. Political power was often in the hands of the landowners in manypre-industrial societiesdespite there being no legal barriers to land ownership for other social classes. Upper-class landowners in Europe were often also members of the titlednobility, though not necessarily: the prevalence of titles of nobility varied widely from country to country. Some upper classes were almost entirely untitled, for example, theSzlachtaof thePolishLithuanian Commonwealth.citation needed
InEnglandWalesScotland, andIreland, the upper class traditionally comprised thelanded gentryand thearistocracyof noble families with hereditary titles. The vast majority of post-medieval aristocratic families originated in the merchant class and were ennobled between the 14th and 19th centuries while intermarrying with the old nobility and gentry.5Since the Second World War, the term has come to encompass rich and powerful members of the managerial and professional classes as well.6
In theUnited States, the upper class, as distinguished from the rich, is often considered to consist of those families that have for many generations enjoyed top social status based on their leadership in society. In this respect, the US differs little from countries such as the UK where membership of the upper class is also dependent on other factors. In the United Kingdom, it has been said that class is relative to where you have come from, similar to the United States where class is more defined bywhoas opposed tohow much; that is, in the UK and the US people are born into the upper class. The American upper class is estimated to constitute less than 1% of the population. By self-identification, according to this 20012012 Gallup Poll data, 98% of Americans identify with the 5 other class terms used, 4850% identifying as middle class.7
The main distinguishing feature of the upper class is its ability to derive enormousincomesfromwealththrough techniques such as money management and investing, rather than engaging in wage-labor or salaried employment.8910SuccessfulentrepreneursCEOspoliticiansinvestment bankersventure capitalistsheirsto fortunes, somelawyers, top-flightphysicians, andcelebritiesare considered members of this class by contemporarysociologists, such asJames HenslinorDennis Gilbert.8There may be prestige differences between different upper-class households. AnA-listactor, for example, might not be accorded as much prestige as a formerU.S. President,9yet all members of this class are so influential and wealthy as to be considered members of the upper class.8At the pinnacle of U.S wealth, 2004 saw a dramatic increase in the numbers of billionaires. According toForbes Magazine, there are now 374 U.S. billionaires. The growth in billionaires took a dramatic leap since the early 1980s, when the average net worth of the individuals on the Forbes 400 list was $400 million. Today, the average net worth is $2.8 billion. Wal-Mart Walton family now has 771,287 times more than the median U.S household (Collins and Yeskel 322).11
Upper-class families… dominate corporate America and have a disproportionate influence over the nations political, educational, religious, and other institutions. Of all social classes, members of the upper class also have a strong sense of solidarity and consciousness of kind that stretches across the nation and even the globe.
Since the 1970sincome inequality in the United Stateshas been increasing, with the top 1% experiencing significantly larger gains in income than the rest of society.121314Alan Greenspan, former chair of theFederal Reserve, sees it as a problem for society, calling it a very disturbing trend.1516
According to the bookWho Rules America?byWilliam Domhoff, the distribution of wealth in America is the primary highlight of the influence of the upper class. The top 1% of Americans own around 34% of the wealth in the U.S. while the bottom 80% own only approximately 16% of the wealth. This large disparity displays the unequal distribution of wealth in America in absolute terms.17
In 1998,Bob HerbertofThe New York Timesreferred tomodern American plutocratsasThe Donor Class1819(list of top donors)20and defined the class, for the first time,21as a tiny group just one-quarter of 1 percent of the population and it is not representative of the rest of the nation. But its money buys plenty of access.18
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Articles with unsourced statements from January 2012
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