Upper Class and Wealthy Flashcards

Questions and Answers

What percentage of the population does the upper class refer to?

0.5% - 1.0% (correct)

More than 5%

Less than 0.5%

1.0% - 5.0%

What term refers to individuals whose members are descendants of successful individuals?

Descendants

There is no official aristocracy in the U.S.

True

What indicates upper class membership in terms of participation?

Cultural practices Signup and view all the answers

What keeps track of high society and requires sponsorship from currently listed families?

The Social Register Signup and view all the answers

What refers to the top 1,000 neighborhoods in America ranked by mean household income for 2010?

The Higley 1,000 Signup and view all the answers

What class maintains a distinctive lifestyle set apart from the rest of the population?

The Leisure Class Signup and view all the answers

What theory suggests that acquisition is motivated by physical comfort for the lower class?

Veblen's Theory of the Leisure Class, lower class Signup and view all the answers

What motivates the upper class according to Veblen's theory?

Emulation Signup and view all the answers

What is it called when the bourgeoisie distinguishes themselves from lower classes by conspicuous consumption?

Bourdieu's Distinction Signup and view all the answers

What concept refers to the distance the upper class maintains from the rest of society?

Distance from necessity Signup and view all the answers

What refers to controlling and owning the primary means of production?

Economic Domination Signup and view all the answers

What is a notable characteristic of political domination by the upper class?

Direct participation Signup and view all the answers

In 2012, individuals can give $____ to each candidate per election.

2,500 Signup and view all the answers

Political action committees (PACs) can give $____ to each candidate per election.

5,000 Signup and view all the answers

What describes the upper class's view of work according to Veblen's theory?

Source of shame Signup and view all the answers

Study Notes

The Upper Class

Comprises a small fraction (0.5%-1.0%) of the population, typically descended from historically successful families like Carnegie and Vanderbilt.
New money, such as Mark Zuckerberg, is often viewed with suspicion within upper-class circles.

Descendants

Descendants play a crucial role in defining upper-class identity, distinguishing them from other social groups.

No official aristocracy exists in the U.S.; however, the upper class forms exclusive societies.
Social interactions, including marriage and friendships, are typically limited to elite families, with cross-class relationships being rare.

Cultural Practices

Membership in exclusive clubs, elite private schools, and high-status charities is common among the upper class.
Participation in debutante balls and other high-society events requires invitation, reflecting family pedigree.

Acts as a record-keeping system for high society; membership necessitates sponsorship from listed families.
Considerations for inclusion include family background and club affiliations, with individuals potentially removed due to scandal or marrying outside their class.

The Higley 1,000

Refers to the top 1,000 neighborhoods ranked by mean household income in 2010.

The "Leisure" Class

Exhibits a distinctive lifestyle focused on the cultivation of manners, leisure activities (e.g., the arts), and philanthropy.

Veblen's Theory of the Leisure Class, Lower Class

Acquisition is driven by physical comfort, with living standards evaluated in absolute terms.
Work is seen as a source of pride, with a positive association to social status.

Veblen's Theory of the Leisure Class, Upper Class

Acquisition driven by emulation, with living standards assessed relatively.
Work is often perceived with shame, seen as inferior compared to leisure pursuits.

Bourdieu's Distinction

The bourgeoisie utilize conspicuous consumption as a means to distinguish themselves from lower classes.
Class difference is reinforced through cultural manners, which are viewed as inherently natural.

Bourdieu's "Distance from Necessity"

The upper class distances itself from common societal values, gravitating towards subtle cultural forms that require restraint.
Bourgeois sports promote politeness and reserve, contrasting with more abrasive activities found in lower classes.

Who the #$&% is Jackson Pollock?

Illustrates social closure; a lower-class woman acquires a painting perceived as a Pollock but is dismissed by the upper class due to her social standing.

Economic Domination

The upper class controls significant means of production, with about 50% of corporate directors and executives drawn from their ranks.
In 2010, the top 1% owned 35% of U.S. stocks, while the top 20% held 92%.

Political Domination: Direct Participation

Upper-class individuals typically dominate presidential candidates and appointments, with 60-70% of cabinet positions during the 20th century filled by this group.
Obama's close advisers referred to as the "Axis of Ivy."

Political Domination: 2012 Spending Limits

Individuals can contribute $2,500 per candidate and $30,800 per party annually.
Political Action Committees (PACs) can donate $5,000 per candidate and $15,000 per party.
Super PACs allow unlimited spending on political ads without candidate coordination.

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Description

Explore key terms and concepts related to the upper class and wealth in society. This quiz covers definitions like social exclusion and descendants, shedding light on the characteristics that distinguish the wealthy. Perfect for students of sociology and social studies.