Socioeconomic stratification

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Name Tutor’s Name Course Date Wealth as an Aspect of Socioeconomic Stratification Social stratification is described by sociologists as a way of categorizing the society into ranking and hierarchy based on determinants such as wealth, power, race, education, income. The social structure varies from place to place because resources and opportunities in a given society are distributed unevenly among individuals or groups of individuals (Saunders 6). Wealth as a measure of social stratification is unevenly distributed among the members of the society in the stratum. Wealth is regarded as the overall net value of assets, property, and money an individual has. In today society, there is a big and widening gap in most societies between people who have accumulated a lot of wealth and people with less wealth. Often regarded as the ‘haves’ and the ‘have-nots.’ This has led to a greater economic margin between the rich and the poor in most societies. This is characterized by few people living in fancy houses, driving classy and flashy cars. On the other hand, the majority of the people are concentrated below the poverty line; in depilated areas, with substandard housing facilities, some living on the streets of major cities). In most occasions, wealthy people in society are regarded to be rich. People who are not wealthy are said to be poor. This gives rise to the upper class, middle class, and the lower class classification. The lower class is majorly dominated by a majority of the people followed by the middle class then the upper class, this provides a pyramid shape stratification. Thus, wealth as a factor of social, economic stratification is affected by

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