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Income, Wealth, and Occupations

Income, Wealth, and Occupations

Author: Paul Hannan

This lesson will define income, wealth, blue-collar occupations, white-collar occupations, intragenerational and intergenerational social mobility. A general overview of the impact will be given. Socioeconomic status (SES) will be defined and further explore social inequality.

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Terms to Know
Blue-Collar Occupations

Occupations involving manual labor.

Conspicuous Consumption

Buying goods and services to display social status publicly.


Money earned from goods, services, or investments.

Intergenerational Social Mobility

A change of social position or rank, moving up or down, from one generation to the next.

Intragenerational Social Mobility

A change of social position or rank, moving up or down, within one generation or lifetime.

Socioeconomic Status (SES)

A measure of social standing based on a composite picture that captures different dimensions of social inequality like differences in power, status, and class.


The monetary value of your assets and income, minus any money you owe as debts.

White-Collar Occupations

Occupations dealing more with information processing rather than physical labor.