9 Aug 2022

86

Economic hierarchies in the society

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Academic level: College

Paper type: Essay (Any Type)

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The term social class is a shorthand way of defining the economic hierarchies in the society. The definition vaguely describes variables such as income earned, wealth accumulated, power and prestige and lastly heritage from low to high. Therefore, the determination of social class focuses on socioeconomic variables that categorizes the population masses. Hence, the division on the subject social class into subjective and objective social classes. I place myself in the upper working class. The variables that lead into my placement include my heritage background, status of my residential area and luxury context- relating to what I can afford and what I cannot afford. 

America is known as “the land of endless opportunities”. However, the nation’s reputation has over the years deteriorated. The question now asked is where America is still the land of opportunities? The country has over the years struggled with fairness in distribution of income. The biasness has led to divisions of social classes, the phrase often used is “equal opportunity” to invoke compensation of income equality. However, equal opportunities and fair chance does not equal results. 

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The game monopoly mimics the American dream where everyone has the same amount of money and the equal chances to succeed winning is determined by skill and luck. The modified version of monopoly the students played had one player at an advantage, the player moved along the board collecting two hundreds while the other struggled through the game moving slowly. As observed, the rich players believed they deserved to win and had no compassion for the poor player. With all the rules rigged what is meant to be equal opportunity is an unfair experience for the disadvantaged player true reflection of what the society is. 

740 Park Avenue is residence for the tycoon and billionaires. The park boosts of having the World’s Richest Apartment building. The legendary addresses of the Avenue can only be home to the wealthiest residents’ as the streets command some of the highest prices in real estate. Power is seen as prestige and authority in the world of politics. The richest in the society get to translate their political desires with little resistance and maximum flexibility. The working class and the poor are still struggling with social mobility. They continue to retain the low positions in the social ladder. Their access to resources is limited as the rich acquired the best for themselves. The most important lesson for me is that social divisions continually increase biasness in the society this has major impacts on the physical health and influence of the individuals. 

Reference 

Park Avenue: Money, Power And The American Dream | WHY POVERTY? (OFFICIAL FULL FILM) 

https://www.youtube.com/watch?time_continue=1&v=6niWzomA_So&feature=emb_title 

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StudyBounty. (2023, September 15). Economic hierarchies in the society.
https://studybounty.com/economic-hierarchies-in-the-society-essay

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