Economic Class Status Effect to Success Essay Example

Economic class status is a division in the society where categorization of individuals is done according to the amount of wealth they have or the rank they hold in the community. Mostly, individuals are grouped into three social classes by the society which is the working-class, middle-class and the wealthy class. (Gilbert 2017 p. 96)The working class is a group of individuals who are employed but don't make a lot of income from their work, the middle-class comprises of those who are employed, but their income is not as low as the working class in that they can sustain themselves well as to the working class, while the wealthy are considered tycoons by the society as they are rich and own means of production.

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The economic class status has however positively affected the ability of South Asian Americans to succeed in U.S. reason being that through the classification; many individuals are motivated to work hard so as they can reach the same level as those in the wealthy class (Florida and Richard 2014 p. 120). Those in the wealthy class offer support to those in the other lower class so as they can develop their ideas which in turn grow the economic status of the country in general.

According to research for a society to grow, there must be different economic status as there can't be a society of either rich or poor people only. The Financial situation ensures that there are those with knowledge on how to develop ideas. In consideration, those in the working class usually come up with great ideas but they are unable to finance their work, this is when those in the wealthy class comes in, offer financial support to the working class to develop their ideas and have a mutual benefit from the concept. Although the wealthy might intend to exploit the working class of their ideas and discoveries, the societies usually have ways of ensuring that this does not happen and that everyone benefits equally.

Economic classes in a society also promote unity and for there to be the success, individuals have to work together. Mostly, many bright people in society usually have a complicated background which forces them to seek help in financing their academics. Since they fall under the category of the working class, the middle and the wealthy class always comes together and offer financial support to the students. Through this, the students appreciate the society by coming up with projects that significantly helps in the development of society.

The wealthy class in the society usually has multiple businesses which they cannot run on their own. Therefore, they offer employment to those with skills of running stores where they also provide training sessions to them for an effective output (Hazelkorn and Ellen, 2015 p. 236). This in return benefits the individual as they gain skills in business management and are therefore able to start businesses of their own which helps the society achieve it set goals in their development plans.

Conclusion

In conclusion, economic class status has contributed significantly in the ability of South Asian America to succeed in the U.S as one can hardly find individuals idling claiming that they do not have work to do. Every member of the society is usually attached somewhere where they earn a living. Also, the economic class status has promoted peace and unity in the community where they co-exist with one another as a family.

Works Cited

Florida, Richard. "The creative class and economic development." Economic development quarterly 28.3 (2014): 196-205.

Gilbert, Dennis L. The American class structure in an age of growing inequality. Sage Publications, 2017.

Hazelkorn, Ellen. Rankings and the reshaping of higher education: The battle for world-class excellence. Springer, 2015.

Ma, Christine, and Michael Schapira. The bell curve: Intelligence and class structure in American life. Macat Library, 2017.