Old money in the context of Social class


Old money in the context of Social class

⭐ Core Definition: Old money

Old money is a social class of the rich who have been able to maintain their wealth over multiple generations, in contrast with new money whose wealth has been acquired within its own generation. The term often refers to perceived members of the de facto aristocracy in societies that historically lack an officially established aristocratic class (such as the United States).

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Old money in the context of Upper class

Upper class in modern societies is the social class composed of people who hold the highest social status. Usually, these are the wealthiest members of class society, and wield the greatest political power. According to this view, the upper class is generally distinguished by immense wealth which is passed on from generation to generation. Prior to the 20th century, the emphasis was on aristocracy, which emphasized generations of inherited noble status, not just recent wealth.

Because the upper classes of a society may no longer rule the society in which they are living, they are often referred to as the old upper classes, and they are often culturally distinct from the newly rich middle classes that tend to dominate public life in modern social democracies. According to the latter view held by the traditional upper classes, no amount of individual wealth or fame would make a person from an undistinguished background into a member of the upper class as one must be born into a family of that class and raised in a particular manner to understand and share upper class values, traditions, and cultural norms. The term is often used in conjunction with terms like upper-middle class, middle class, and working class as part of a model of social stratification.

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Old money in the context of Nouveau riche

Nouveau riche (French for 'new rich'; French: [nuvo ʁiʃ]), new rich, or new money (in contrast to old money; French: vieux riche [vjø ʁiʃ]) is a social class of the rich whose wealth has been acquired within their own generation, rather than by familial inheritance. These people previously had belonged to a lower social class and economic stratum (rank) within that class and the term implies that the new money, which constitutes their wealth, allowed upward social mobility and provided the means for conspicuous consumption, the buying of goods and services that signal membership in an upper class. As a pejorative term, nouveau riche affects distinctions of type, the given stratum within a social class; hence, among the rich people of a social class, nouveau riche describes the vulgarity and ostentation of the newly rich person who lacks the worldly experience and the system of values of old money, of inherited wealth, such as the patriciate, the nobility, and the gentry. Though people who came from lower social classes are beginning to see it as a compliment rather than an insult, viewing it as recognition that they built their own wealth and status.

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Old money in the context of Philadelphia Main Line

The Philadelphia Main Line, known simply as the Main Line, is an informally delineated historical and social region of suburban Philadelphia, Pennsylvania. Lying along the former Pennsylvania Railroad's once prestigious Main Line, it runs northwest from Center City Philadelphia parallel to Philadelphia and Lancaster Turnpike, also known as U.S. Route 30.

The railroad first connected the Main Line towns in the 19th century. They became home to sprawling country estates belonging to Philadelphia's wealthiest families, and over the decades became a bastion of "old money". The Main Line includes some of the wealthiest communities in the country, Villanova, Radnor, Haverford, and Merion. Today, the railroad is Amtrak's Keystone Corridor, along which SEPTA's Paoli/Thorndale Line operates.

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Old money in the context of Social Register

The Social Register is a semi-annual publication in the United States that indexes the members of American high society. First published in the 1880s by newspaper columnist Louis Keller, it was later acquired by Malcolm Forbes. Since 2014, it has been owned by Christopher Wolf.

It was historically a directory of "old money", well-connected families from the Northeastern United States. In recent years, membership has diversified both in the geography and ethnicity of those it lists.

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