"Socioeconomic status (SES) encompasses not just income but also educational attainment, financial security, and subjective perceptions of social status and social class. Socioeconomic status can encompass quality of life attributes as well as the opportunities and privileges afforded to people within society. Poverty, specifically, is not a single factor but rather is characterized by multiple physical and psychosocial stressors. Further, SES is a consistent and reliable predictor of a vast array of outcomes across the life span, including physical and psychological health. Thus, SES is relevant to all realms of behavioral and social science, including research, practice, education and advocacy."
Rutger Bregman, author of Utopia for Realists, presents the interesting idea of providing a basic income guarantee to help people out of poverty and create social change and equity. He argues this will not only improve people's lives financially but decrease medical issues, domestic violence, and mental health problems.