The version presented here may differ from the published version or, version of record, if you wish to cite this item you are advised to consult the publisher's version. Please see the 'permanent WRAP URL' above for details on accessing the published version and note that access may require a subscription.

We examined changes over four decades and between ethnic groups in how people define their social class. Changes included the increasing importance of income, decreasing importance of occupational prestige, and the demise of the “Victorian bargain,” in which poor people who subscribed to conservative sexual and religious norms could think of themselves as middle class. The period also saw changes (among Whites) and continuity (among Black Americans) in subjective status perceptions. For Whites (and particularly poor Whites), their perceptions of enhanced social class were greatly reduced. Poor Whites now view their social class as slightly but significantly lower than their poor Black and Latino counterparts. For Black respondents, a caste-like understanding of social class persisted, as they continued to view their class standing as relatively independent of their achieved education, income, and occupation. Such achievement indicators, however, predicted Black respondents’ self-esteem more than they predicted self-esteem for any other group.

Please refer to published version for the most recent bibliographic citation information. If a published version is known of, the repository item page linked to above, will contain details on accessing it.

No abstract

We explore the psychological meanings of money that parallel its economic functions. We explore money's ability to ascribe value, give autonomy, and provide security for the future, and we show how each of these functions may play out differently in different cultural milieus. In particular, we explore the meanings and uses of money across ethnic groups and at different positions on the socioeconomic ladder, highlighting changes over the last 50 years.We examine the dynamics of redistribution between the individual, the family, and the state in different cultures, and we analyze the gendering of money in the world of high finance and in contexts of economic need. The field of behavioral economics has illustrated how human psychology complicates the process of moving from normative to descriptive models of human behavior; such complexity increases as we incorporate the great diversity within human psychology. Expected final online publication date for the Annual Review of Psychology Volume 70 is January 4, 2019. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.