We have started The Great Gatsby in AIS. And along with that we are discussing in detail what social classes are and how they are defined. I think that individually the idea of social standing is very relative because everyone has their own idea of what makes someone middle, upper, or lower class.
Not only that but many people compare their social rank to that of those around them. So if one neighbor has a mansion and so does the other neighbor while you live in a comfortable house, you might think you are "middle class".
I also personally think that class is generally defined by wealth (net income). The more lavish a lifestyle you live the more you are put on a pedestal, whether consciously or not because others wish they could live like you. Our economy is set up to reward those make the most money, especially with the tax cuts for those who are already wealthy. More money means more of everything else (like precious commodities like gold, oil, diamonds) and perhaps more respect.
In Richistan: A Journey Through the American Wealth Boom and the LIves of the New Rich (wow what a mouthful!) Robert Frank, the author, brings up a good point. That the truly wealthy of America seemed to have made a mini-counrty of their own in America that he calls Richistan. This tiny percent of the American population holds a huge percent of America's wealth.
I would definitely recommend this book because it reveals very interesting facts about today's millionaires and how they effect the rest of the population. This book also helps to prove that many people think money means a higher social rank. Besides, isn't the "American Dream" a dream to get rich?
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