Wealth

Social Stratification
Social stratification is the allocation individuals and groups according to different social
hierarchies of differing occupation, caste, power, status and wealth. In this regard, social
stratification is found in every society.
Wealth
Social stratification belongs to a society’s categorization of its people into rankings of
socioeconomic tiers based on factors like income, wealth, and race.
Explanation
When the income of the country is unevenly divided between the rich and poor class of the
societies the social stratification occurs between two groups. In USA, social stratification is
based on the income and wealth. Areas of social stratification include access to voting rights,
freedom of speech and assembly, the extent of property rights and access to education, health
care, quality housing, travelling, and transportation. Wealth stratification refers to the unequal
distribution of wealth between two ethnic groups, social stratification exists because the lack of
wealth in certain areas prohibits these people from obtaining the same housing, health care, etc.
as the wealthy, in societies where access of all those social goods depends on wealth. In our
societies wealthy people can do anything because they have wealth, they can make laws and
break laws. Whereas poor people are always the target of victimization. In USA, being a
homeowner is an important method in acquiring wealth, this situation created fewer
opportunities for the black family to acquire wealth, producing social stratification. Rich children
can study any school, college, university because they are able to pay the fee even if they don’t
have the potential to study but poor children’s cannot study in higher institutes because the fees
of those institution talks to sky. This causes wealth stratification.
Conclusion
Wealth refers to the assets and income producing things that people own. Income refers to the
money that people receive over a certain period of time, including salaries and wages. In USA,
the latest statistics indicate the poorest 20 percent of Americans earn less than 5% of the total
national income, while the wealthiest 20 percent people earn nearly 50% of the total national
income.
In Pakistan, the workers are poor, so in order to survive, workers are coerced into long working
hours under less than ideal circumstances to maximize the profits of the firm’s owners. Because
workers are poor they will work for them whatever reward they give to them. In this way social
stratification occurs and wealthy people enjoys the prestige of life.