Posted in Finance, Accounting and Economics Terms, Total Reads: 727
Definition: Upper Class
In the modern society the Upper Class refers to the richest member of the society and can be around 2 % of the population. It also refers to those member of society who are associated with families which are not only wealthy but also contributed to wealth creation over generation through leadership and distinguished themselves in various forms of life.
In historical times it was these upper class who held political positions although that has changed quite a bit now. Members of upper class have higher level of disposable income, higher access to political sphere, and have often held office of great importance. Most distinguished feature of Upper class is that in spite of being a very small proportion of overall population, still they hold disproportionate large size of social wealth.
In contemporary society we can see the tremendous emergence of rich middle class and their ascendance in all matters important. Still from the tradition sense of the term upper class, its not decided upon the amount of wealth hold rather the kind of family one is born in. They are brought up in a typical upper class fashion and they share their values, tradition and culture which can be termed as upper class.