Socioeconomic stratification

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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 various variables. These include the occupational structure of an individual, gender, power acquisition and age (Dugger 3). Occupation and the profession of people determine their capacity to accumulate wealth. For instance, although teachers have the highest level of education in the society, they are considered to less wealthy because they are mostly less paid. Their career focuses on giving on teaching and pouring out knowledge, unlike wealthy successful business people who focus on making huge amounts of profits. Gender has been over the years a key determinant of wealth acquisition. Majorly dominated by males. Currently, the society is changing due to many programs of women empowerment, and the wealth acquisition is also shifting in favor of the females.
The age factor has been a determinant of wealth. Traditionally, most people considered wealthy were majorly mature adults. The current society is having rich and wealthy youths with great and diverse achievements. Also, wealth and power go hand in hand. Majority of the powerful people in our society are wealthy and rich. A few less wealthy individuals make it to the top of the most powerful individuals. Thus, this study will focus on wealth as a factor in socioeconomic stratification, the variables involved and their relation to social stratification in the society.
Research Objectives
The major objective was to examine wealth as a factor of socioeconomic stratification in most societies.
To determine the variables that affect wealth acquisition as a measure of social class.
To formulate measures that reduce the margin between the rich (wealthy) and the poor.
Inter-related Hypotheses
There is a significant uneven pattern of wealth distribution among members of society.
There is a relationship between power and the amount of wealth an individual in a society has.
Majority of the powerful people in the society are significantly wealthy.
There is no specific age limit that determines the capability of an individual to become wealthy.
Gender-related factor has much significance in determining wealth status of individuals.
Male dominance in the upper class has been a trend over the decades in most societies.
Women empowerment and education have led to the balance in gender in upper social class.
The margin between the rich (wealthy) and the poor in most societies is relatively huge.
Property and the amount of income among the key reflectors of a person’s accumulated wealth.
Majority of the poor (less wealthy) people in the society are concentrated in the lower strata of the social, economic class pyramid.
Few wealthy individuals are found in the upper social class strata in the social class pyramid.
Inheritance of wealth from parents has led to the maintenance and sustenance of the upper-class society from generation to generation.
Race and ethical discrimination have a negative impact on wealth acquisition in most societies.
Some of the most powerful individuals in societies are not wealthy.
Education and empowerment are key factors that bridge the huge gap that exists between the rich (wealthy) and the poor (less wealthy).
Substantiation of the Hypotheses
Wealth, as a key aspect of socioeconomic stratification, is differentially distributed among the members of the society. This inequality is due to a combination of several factors and how they influence and affect wealth accumulation. For instance, resources, opportunities and wealth have a connection to greater patterns of power and some privileges (Weber 10). Wealthy, rich and people with a lot of money tend to acquire power so that they can control the masses. As such, power is highly dependent on the amount of wealth a person has accumulated. A good example is a political class. Most politicians usually need the power to protect their wealth and control the masses for their interest.
There is no a specific age bracket that people must attain for them to become wealthy and rich. The society today has both young people and adults making to the upper-class strata of society. Most of the young people are making it in life through the proper education system, hard work, art and talent, innovation, creativity, and technology. All these opportunities make the young generation explore much of the resources available for their benefit. The older generation who have invested in property over the years also have accumulated much wealth. Thus, the society has provided equal opportunity for every individual regardless of age to make it to the upper-class level. Gender-related factors are slowly losing significance, especially in well informed and educated societies. Over the decade’s wealth has been dominated by males. Currently, the trend has changed in favor of the females. This is because education and female empowerment made the girl child to realize their potential and worth in society and the need to have their empire. For example, Oprah and her network (OWN), that continue to impact the lives of the youths as well as empowering and motivation the girl child.
Race and the ethical discrimination result in uneven distribution of wealth among members of the society. This leads to some parts of the society to be marginalized. For instance, a dominant ethnic group in the political spectrum strives to ensure no other ethnic group comes into power. A good example is the Kenyan political system, and other major economic opportunities have been dominated by two ethnic tribes over five decades. This has been other tribes to feel excluded and marginalized making them remain at the lower class level of the social, economic strata (Davis 11).
As such, this leads great margin between the wealthy and the poor in the society. The margins can be reduced if equality in resource distribution and opportunities is promoted, the political system changes to favor all the people, societal inclusion, gender, race and ethical discrimination is condemned as well as the proper policies and regulation are put in place (Sookdeo 214).
Simple Path Model Showing Variable Relationships
200025012065Race & Ethnicity
00

Race & Ethnicity

302895012065Parental Inheritance
00Parental Inheritance

231457511239500

28289245524600308610031242000left379095Property
00Property
right7620Power
00Power

742950127000002390775240665Wealth
00Wealth

28194001511300025450801416050031051498255007810516540500left189230Income/Money
00Income/Money
right93345Privileges
00Privileges

33147008890Gender Balance
00Gender Balance
19240508890Education & Empowerment
00Education & Empowerment

The path model shows the relationship between wealth acquisition means, the resulting factors and the corresponding impact. For instance, the means for wealth accumulation depends on the amount of money and property an individual has. The accumulated wealth is also affected by gender-based aspects, parental inheritance, education, and empowerment as well as the race and ethnic factors. The resulting impact of accumulated wealth is the acquisition of power. Although it is worth noting that not all wealthy people are powerful and not all powerful people are wealthy.
Part II
Research Design
The research designs that would facilitate the measurement of the variables include conducting surveys, observations and interviewing, as well as the use of the existing data (Sherman et al. 270). To study the impact, the variables had on wealth as a socioeconomic aspect, a specific sample size of people of a given region in society was administered with questionnaires as a mechanism for collecting data. The respondents provide information relevant to the study as asked in the questionnaires. The survey may include information about the gender issues, race, and ethnicity among others.
Interviewing respondents is another design that helps in measuring the variables. Face-to-face interviews or phone interviews are applicable. The sample of the people interviewed provides information that helps in generalizing the results for the entire population of the region studied.
Observational studies yield relevant data. This would involve observing certain variables. For instance, the population distribution across the socioeconomic pyramid, distribution of race in the region of study, the level of education and empowerment, gender-related aspects as well as the degree and level of margins that exists between the rich and the poor by examining the number and distribution across geographical locations. This information is relevant in determining how wealth is distributed across the social strata.
The use of existing data as a research design would involve studying other literature work done by other individuals on the same topic of study. Data and information about wealth distribution, population distribution, and the associated variables can be found through analyzing data from population census in the area of study, property records and education records among others. All this information would help in addressing the wealth distribution patterns.
Part III
Ethical and Political Issues Involved in the Implementation of the Research Project
The ethical issues in conduction social research address mostly the methods used in conducting the research. The political issues deal with the substance and the general use of the research.
Thus, ethical issues involve aspects of voluntary participation. The respondents in the study environment must voluntarily agree to reveal the information inquired by the researcher. The respondents must be allowed to relay information from their conscious free from interference. The respondents must be free from deception. The participants should not give false information during the research. Also, ethics requires that there should be no harm to the participants and respondents. The respondents and the people within the study area need to be well informed about the ongoing research. The researcher must ensure privacy, anonymity, and confidentiality of the information of the participants. The researcher should not disclose the respondents’ identity after the information has been gathered (Nash 498).
Also, during data analysis and reporting, the researcher must ensure honesty about the research findings. The institutions that review the research must ensure the rights and interests of participants are protected. Thus, professional codes of ethics help to describe acceptable and unacceptable professional behaviors during the research process. For instance, ethics requires that you recognize and identify the sponsor that funded the research, cooperate with other stakeholders, make clear interpretations of the results which are consistent with the data gathered, use of standard methodological surveys techniques that enhance accuracy as well as avoid conducting secret research.
The political issues that involved in the implementation of the research project dictate that science (research process) is not untouched by politics, implying that social life is part of social science. Also, science does not proceed even in the midst of political controversy or hostility. Also, the awareness of ideologies, as well as objectivity, enriches the research study and the general practice of the social research methods as well as the techniques.

Works Cited
Dugger, A. Social stratification factors. Wealth, Power and prestige. Journal of social sciences.
6(2) pp. 2-4. 2016.
Davis, L. Factors affecting the distribution of wealth and income. Journal of sociology. 10(2) Pp 10-15. 2013.
Nash, J. Ethics, and Politics in social science research. Journal of academic sciences. Vol. 36(6) Pp 497-510. 2014.
Sookdeo, C. Social stratification. Class, gender, race, ethnicity, and sex. London University Press.
2014.
Saunders, P. Social economic stratification, and social class. University of London Press.
Routledge. 2005.
Sherman, L., & Berk, R. research design in sociological research.  American Sociological Review Journal. 49(23) 261–272. 2012.
Weber, M. Wealth and social, economic stratification. Journal of Global social challenges. 20(2) 8-12. 2007.