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• Socioeconomics is More than Dollars and Cents

Socioeconomics is More than Dollars and Cents

written on August 09, 2010 by Tameka Taylor

Diversity consists of more than the aspect of race, although that is typically what we think of as Americans.  Race is an important aspect of diversity that impacts many of our lives on a daily basis and the interactions amongst people and groups.  However, race is not the only important aspect of diversity that impacts many of us on a daily basis; socioeconomics is another aspect that impacts many of us.

Socioeconomics is not just about the money that we earn and our net worth.  While that is a piece of the definition of socioeconomics, it is about so much more.  Socioeconomics also includes the social group that we are affiliated with, the people who we spend time around.  If you only consider one part of this definition, then you are not fully addressing your socioeconomic status (SES).  An individual’s SES is extremely influential in their lives.  SES impacts people’s access to resources and opportunities.  People are limited by their lack of resources and opportunities.  This includes knowing how to get the answer that individuals deserve.  This means knowing how to navigate through systems to get the information that is needed to be successful or to meet our goals.  It includes having access to resources whether in our possession or knowing how to get what is needed.

It sometimes means that those of us that are in the middle and upper classes have to recognize that many things that we take for granted are not a part of everyone’s experience.  The digital divide is an example of this.  While there has been an increase of the number of computers in the homes of Americans, there is still a digital divide.  In 2008, approximately 80% of US homes have computers in them.  However, only 57% of those homes had high speed internet.

Recently, I began to understand why we have so many homes in foreclosure in our communities.  As so many people are unemployed and underemployed, there are programs that have been set up to provide some assistance to these families.  However, sometimes people with a lower SES do not know how to negotiate their way successfully through the system.  I know someone who is underemployed and tried to participate in one of the programs to change her monthly mortgage payment to an affordable rate.  It took her 11 months, applying for the program 4 times, at least 15 phone calls, 3 denials of being accepted to the program and countless hours to successfully benefit from the program.  I’m convinced that if she was in a lower SES group, had limited education, accepted what people told her in authority without questioning things, she and her family would not still be in their home.

Socioeconomics without a doubt impacts the lives of all!!  No matter our race, gender, religion, age, or sexual orientation, it impacts our access to resources and opportunities.  Socioeconomics is an aspect of diversity that we cannot deny.

 

Tameka L. Taylor, Ph.D.
Partner and Consultant

Compass Consulting Services, LLC
216-299-7335