United States
In the United States the upper class, also referred to simply as the rich, is often considered to consist of those with great influence and wealth. In this respect the US differs from countries such as the UK where membership of the 'upper class' is also dependent on other factors. The American upper class is estimated to constitute less than 1% of the population, while the remaining 99% of the population lies either within the middle class or working class. The main distinguishing feature of upper class is its ability to derive enormous incomes from wealth through techniques such as investment and money management, rather than engaging in wage-labor or salaried employment. Successful entrepreneurs, CEOs, politicians, investment bankers, some lawyers and top flight physicians, heirs to fortunes, successful venture capitalists, stockbrokers as well as top-flight celebrities are considered members of this class by contemporary sociologists, such as James Henslin or Dennis Gilbert. There may be prestige differences between different upper-class households. An A-list actor, for example, might not be accorded as much prestige as a former U.S. President, yet all members of this class are so influential and wealthy as to be considered members of the upper class.
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"Upper-class families... dominate corporate America and have a disproportionate influence over the nation's 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." -William Thompson & Joseph Hickey, Society in Focus, 2005. |
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Since the 1970s income inequality in the United States has been increasing, with the top 1% experiencing significantly larger gains in income than the rest of society. Social scientists (such as Alan Greenspan) see it as a problem for society, with Greenspan calling it a "very disturbing trend."
According to the book Who Rules America?, by William 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.
Read more about this topic: Upper Class
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