Class: The different types of people and finance


In this article, we will take a look at the different classes of people and finance. We will explore what each class is, what they do, and how they are interconnected.

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The financial world is a complex one. There are many players in the game, and it can be difficult to keep track of them all. In order to make sense of this complicated system, it helps to break it down into its component parts. One way to do this is by grouping people into classes based on their relationship with money.

There are four main classes of people in society:

  • The Upper Class

  • The Middle Class

  • The Lower Class

  • The Working Class

There are three main types of finance:

  • Personal Finance

  • Business Finance

  • Global Finance

People in different classes have different financial needs. The middle-class people need to save up for retirement and make sure they are financially secure. The upper-class people need to ensure that they are not spending too much and their investments are paying off. The lower-class people need to make sure that they have enough money for their daily needs like food and shelter.

The wealthiest 1% of the population controls 40% of the world's wealth, while more than 75% of the population is either middle or lower class (low income).

Now,how are they interconnected?
The relationship between the classes of people and finance is a complicated one. Wealthy, middle-class, and low-income people all have different relationships with money. It is not always the case that people are in control of their finances. In some cases, they are completely dependent on someone else to take care of them.

Simply,the relationship between the classes of people and finance can be characterized by the following:

  • Finance is a means of social control.

  • Finance is a tool for social mobility of individuals.

  • Finance is a way to maintain power and privilege of people.

  • Finance is an engine of economic growth.

  • Finance is a system that perpetuates inequality.

That will be all for this post. Kindly Share your thoughts in the comments section. Thank you for reading.

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