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According to World Bank Country Director Motoo Konishi, the Philippines had become a "rising tiger" in East Asia. However, at the same time, during the 2010–2011 fiscal year, the increase in the wealth of the richest families in the Philippines, amounting to 47.39%, comprised 76.5% of the GDP increase for that year. [4]
A social class or social stratum is a grouping of people into a set of hierarchical social categories, [1] the most common being the working class, middle class, and upper class. Membership of a social class can for example be dependent on education, wealth, occupation, income, and belonging to a particular subculture or social network.
Socioeconomic status has long been related to health, those higher in the social hierarchy typically enjoy better health than those below. [22] Socioeconomic status is an important source of health inequity, as there is a very robust positive correlation between socioeconomic status and health. This correlation suggests that it is not only the ...
Class: A person's economic position in a society, based on birth and individual achievement. [18] Weber differs from Marx in that he does not see this as the supreme factor in stratification. Weber notes how corporate executives control firms they typically do not own; Marx would have placed these people in the proletariat despite their high ...
Class based families include the lower class who are the poor in the society. They have limited opportunities. Working class are those people in blue-collar jobs and usually, affects the economic level of a nation. The Middle classes are those who rely mostly on wives' employment and depends on credits from the bank and medical coverage.
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In political science, the term class conflict or class struggle refers to the economic antagonism and political tension that exist among social classes because of clashing interests, competition for limited resources, and inequalities of power in the socioeconomic hierarchy. [1]
The rural SEC grid, which uses education and type of house (pucca, semi-pucca, and kaccha) as measures of socio-economic class, and segments rural India into 4 groups (R1, R2, R3, R4) This is based on the assumption that higher education leads to higher income thus higher consuming potential. But that this may not always be true.