The Yuppie image in the media - Wall Street and American Psycho

The term ‘Yuppie’ was a 1980s acronym for 'Young Upwardly Mobile Professional Person'. The word was coined by the advertising industry to capture the essence of a particular type of person, who embodied the work hard, play hard, ambitious minded career person who generally resonated within the city. 

With all these stereotypical characteristics listed above It could be suggested that wall street was seen as a haven for the yuppie, especially within the 1980’s, and it was especially depicted in this way within the media realm. 

An example of someone who perfectly embodied the characteristics of the yuppie would be Gordon Gekko in the 1987 film “Wall Street”. Through Gordon Gekko, “Wall Street not only encapsulated one of the most recognisable stereotypes of its era, but also captured that era’s culture of aspiration, social-climbing, greed and excess brilliantly.” The yuppie trait of being overly obsessive when it came to work could suggest their anxiety of acquiring their ideal status in life, even if it meant sacrificing their families in the process.

In American psycho however the film takes a different approach to the Yuppie, From the images above we clearly see the stark resemblance of both characters, the slick back hair, the colourful suits with braces, which all epitomised the image of the yuppie. Besides appearance that’s where most of the similarities stop. In the case of the main protagonist, Patrick Bateman, he has to envision killing people in order to fill a void in his life. What’s interesting about this is that not only does it exemplify the delusions of the main protagonist, but also the shallowness of the Yuppie lifestyle and this can be shown by how such minor materialistic items take such an importance in his life as well as his colleagues.

In the book by Jane Feuer, she suggests that the yuppie depicted within tv and film does not really represent the yuppie culture directly, nor do they aim to necessarily flatter the yuppie audience.

Sources: https://georgesjournal.org/2011/10/28/yuppies-sequels-geeks-and-gekkos-the-10-ultimate-80s-movies

Feuer, J. (2017). Seeing Through the Eighties. [online] Google Books. Available at: https://books.google.co.uk/books?id=xzgKEVSVLYkC&pg=PA60&lpg=PA60&dq=jane+feuer+yuppie&source=bl&ots=Cm7F_K1MdS&sig=Hssn5qI-VyGi-iLqYQ3Y73NPTuE&hl=en&sa=X&ved=0ahUKEwjw1OHapZ3TAhVDD8AKHX_WCX0Q6AEIKTAB#v=onepage&q=jane%20feuer%20yuppie&f=false [Accessed 30 Jan. 2017].

The Yuppie and Racism

The term "yuppie" is a 1980's acronym meaning young urban professional and is defined in the Random House Urban Dictionary as "a young, ambitious, and well-educated city-dweller who has a professional career and affluent lifestyle."

They then use this money they have acquired to boast a lifestyle based upon consumption and status visibility that was promoted during the Reagan administration. The image of the yuppie is however problematic as it is associated with the stratification of American society that allows for white dominance through advantages that are unavailable to blacks and other minorities. Civil rights may have had a boost during the 1960's, but there were still very real issues surrounding race in the 1980's, if not aggravated by Reagan's focus of upper-class whites. Whilst the 1960's pushed for social liberalism and was the age of the hippie, the 1980's reinstated conservatism- "they have replaced confrontation with condominiums" Errol T. Lewis, 1985.

Racism may have become less overt and visible in the 1980's, but its historical significance in institutionalisation had not left. As Robert Hill analysed in 1978 "because of wide acceptance of the belie in the significant economic progress of blacks, many whites have become increasingly resistant to efforts toward racial equality in the areas of education, employment, housing and economic security. Since they do not believe that significant racial barriers exist, many whites feel that equality of opportunity has already been achieved." This ideology was in juxtaposition to the fact that blacks were not given the same levels of education throughout the 1960's when the white yuppies were. Images of the yuppie in culture and media were dominated by ones of the white male.



Image from 1987 film Wall Street


White wealth in the 1980's was symbolised by the yuppie, and the depiction of black impoverishment. Sidney M. Willhelm said in 1986 that "the Reagan administration vigorously and uncompromisingly enforces a "race neutrality" ideology to cloaks its discriminatory policies against blacks." The yuppie is therefore a problematic figure as it only represents a very exclusive socio-economic group that existed in 1980's culture.

Richard Lowy, Yuppie Racism: Race Relations in the 1980s, Journal of Black Studies, Vol. 21, No. 4 (Jun., 1991), pp. 445-464, http://www.jstor.org/stable/2784688?seq=13#page_scan_tab_contents

Yuppies and Politics

A Yuppie is an affluent young urban professional who was born during the baby boom of 1946-1964 who have college degrees and well paid jobs. This article suggests that Yuppie culture rejects high taxes, social spending, and government regulation, therefore are very conservative. However with that being said they have very socially liberal attitudes and are firm believers on equal rights for women, freedom of sexual preference and abortion rights. This shows that they have very liberal attitudes involving personal freedom in regards to sexuality and gender despite their reputation for being too conservative due to their materialistic status in society. The idea that youth and education make people more liberal has been described as yuppie syndrome, although this is not necessarily a bad idea the article portrays this in a positive light as it highlights the progression of American society from the sixties to the eighties. Particularly due to the rise in feminism and women's rights which enhanced that this generation was more progressive and open to change compared to the older generations. In contrast many people viewed yuppies as being quite self-centred and materialistic due to their economic status, yet it is this status that allowed them to receive so much media attention. In a period of conservative politics yuppies offered a completely new subculture which helped them to become so well renowned. This is what makes them stand out as a dominant subculture of the eighties as they were non-conformist and embodied a generation of positive change and progression.

http://www.jstor.org.winchester.idm.oclc.org/stable/pdf/2748754.pdf
http://www.history.com/topics/1980s
http://www.jstor.org/stable/pdf/3791692.pdf

1980's Yuppie, also a Fashion Statement

The term Yuppie was used in the 1980's to describe young, ambitious and well educated people, who were aspiring to be in a high paying job. Yuppie can also be used now to describe a rich person who is not modest about their financial status. Yuppies were most likely to be middle or upper class, they would enjoy spending money on expensive possessions and doing fashionable things.

The picture shown above was from Kays Catalogue, which was founded in 1890. The website link below is where I found the photo, it explains how in the 'yuppie' culture in the 1980's period involved wealthy young urban professional people. This had a huge effect on fashion during this era, it introduced a masculine styled attire; including suits, which were introduced by Armani's designs, loosing there tailored shape and accompanied by casual loafers and t-shirts. This was very different to previous decades. Furthermore, for women, the yuppie era was all about 'power dressing'. As shown in the photo above we see a catalogue full of the yuppie style making it seem as a fashion statement, something more than just a business and wealth. This photo presents the 1980's yuppie as a power statement, making it seem all about looks rather than its real meaning. Fashion in the 80's is always going to be iconic and easily recognisable as full of colour, shoulder pads and big jackets, however the photo is evidence of a different type of fashion. This work wear trend seemed to be catching on and maybe people wanted to be seen as yuppies by what they wore rather than because of their financial or job status. This photo portrays the yuppie culture as a trend for that time.

http://www.worldofkays.org/website/body-image/1980-2

Yuppie Culture in the 1980s

"Yuppie" - an abbreviation of the 'Young Upwardly mobile professionals, an economic movement prominent in the 1980s.


While some argue that remnants and attitudes of the Yuppie era live on in the United Kingdom, it could still be argued that the same could be said of America also. Yet, if observations are made about the actual Yuppie culture and the decade it emerged, many assumptions explaining its rise can be made. However, these reasons become a little irrelevant when discussing what a Yuppie actually is. They were substantial earners, typically above $40,000 per annum, part of the baby boom generation (1946-64), and self-seekers; only concerned for their individual prospects.


http://eightiesclub.tripod.com/id295.htm
The above article provides a brief description of what Yuppie culture is, who they were and how they emerged. The article discusses how many were ex-hippies and had transformed from supposed selflessness to ultimate consumer greed. It also makes links to the notions of Yuppie economics and dynamics of Reagan's America, in which self-interest would be the only way to thrive and earn money to support a luxurious lifestyle which the western world now promoted as the ideal.

The image above shows the epitome of what it meant to be a part of this culture and shows also a divide been professionalism and social mobility; including a Gucci briefcase, Sony Walkman, sports gear, etc. Yuppies lived out consumer culture and designer ideologies which made them the idealistic politically conservative white professional, but also the liberalist who still had notions and memories of the Hippie lifestyle. Yuppie culture was short-lived as it was blamed for the market crash of 1987, and was therefore seen as an ineffective method of being an accomplished socialite worker of the 1980s.


The article states that "according to the leftist Fredric Jameson, "a new petit bourgeoisie [whose] cultural practices and values ... have articulated useful dominant ideological and cultural paradigm" for American society in the 1980s. Yuppies were lambasted as excessively consumptive in their pursuit of the American Dream without much regard for those left behind." What this highlights is the rise of a new American Dream; one which can only be for the potentially liberal elite with conservative ideologies also, truly a hallmark of Reaganism.


Although the demise of Yuppie culture was fast and undesirable, there remain remnants of the consumer culture it embedded in the ambition of a luxury western existence (Atwal and Williams, 2009). Both the article and the picture demonstrate what it meant to be a part of Yuppie culture in the 1980s. It also states that "[o]bsession with career was a hallmark of Yuppie culture, a concept which is also shown in the image; but beyond this is the notion that it is not much to be obsessed with your job, but you must do it in style also. Yuppie culture was not just an ideological state, but was a concept which could work its way into the music industry, economics, social problems, the film industry, literary works, etc. Published in 2000, this article is a great way to objectively look back at the Yuppie era in a perspective of nostalgia.


Notes
1. http://www.dailymail.co.uk/news/article-1269526/Thatcher-era-yuppies-love-money-else.html <accessed 27/01/2017>
2. http://eightiesclub.tripod.com/id295.htm <accessed 27/01/2017>
3. Atwal, Glyn and Alistair Williams. “Luxury Brand Marketing – the Experience Is Everything!” Journal of Brand Management 16, no. 5 (February 13, 2009): 338–46. doi:10.1057/bm.2008.48.

Does Trickle-Down Economics Work?

Source: https://www.thebalance.com/trickle-down-economics-theory-effect-does-it-work-3305572

Ronald Reagan was a highly conservative President and felt that individual freedom was vital, therefore taxes should remain low to support this freedom. He also believed in the trickle-down economic theory whereby if high income earners gain an increase in their salary, then everyone in the economy will benefit due to wealth being able to filter through all sections of society. 

On the whole, this article praises Reagan's ideals as during the Reagan administration the lowest income individuals were paying just 28% tax, whilst corporate tax was also lessened from 46% to 40%. Lowering taxes was important for Reagan and by lowering income tax people were starting to keep a lot more of their money then they ever had before. Also, the 1980s and the years that followed marked points where American businesses were starting to dominate the market. By keeping this tax low, businesses were staying in America and not leaving to go abroad, (e.g. China) therefore more jobs were being made and kept. The unemployment figures during the recession were extreme, however Reagonomics swiftly ended the recession and he left the presidency at a comfortable 5.4% unemployment rate. 

The source also shows how American economist, Arthur Laffer suggests tax cuts do provide a powerful multiplication effect where over time, lost government revenue is easily replaced because of the growth and prosperous economy which is sustained via a low tax base. Furthermore, the economic reforms meant the US remained a low-tax economy for years which inspired Republicans to keep up the fight of keeping this belief as it was helping Americans massively. Even the two presidents that followed Reagan, Bill Clinton and George H. W. Bush; they never really altered the tax system heavily and during their years the economy was even better with the US sustaining their place as a super power nation. Moreover, by fostering the world's greatest economy, Reagan essentially bankrupted the Soviet Union, which led to their demise and this was without firing a single shot directly at the Soviets. 

This article supports the tickle-down theory yet also suggests that income equality worsened  as the richest saw an 80% increase, the bottom fifth's income rose by 6%. Now whilst this may look like a serious flaw in the ideology on paper, just because the richest have succeeded more does not necessarily mean this harms the poorer. This is because they are still gaining more money than they ever were previously. It just so happens that Reagonomic's meant the poorer would get richer, yet the rich would get even richer. For ordinary people, i.e. the middle class, this ideal would've somewhat come to a median.  Prosperity trickled up for all classes of society in some way because of Reagan's tax system, as well as making American an economic titan. To do this during the Cold War where government spending needed to be high for military use, it becomes all the more impressive how Americans were still gaining in wealth. 

Ronald Reagan Hagiography or is it really?

Now, this was hard. It's easier to find the downside especially online, the hagiography, on the other hand, took some digging, although it's easy to note that there was a lot on Nancy Regan and how much of a following that she had a first lady and political leader in her own right.  Actually, the field was so small that blog post from earlier years is what come up instead. But his nickname was the Great Communicator, and a lot of love during his actually presidential term come from the fact that he was nearly assassination allowed him to have one of the highest approval ratings.

Although, it has to be noted that the largest bronze statue of Reagan is in a very unlikely place which during the time felt like the downside of Reagan admission. Covington had been a Democratic stronghold for a century, and during Reagan's second term the town in Louisiana fell on hard times due to the oil bust. Their view by 2003 has changed, they even had a Ronald Reagan highway. This was all because of Patrick F. Taylor, Louisiana tycoon, owner of Taylor Energy Company, one of the 400 richest men in the world who was actually good friends with Regan. Then in 2004 when Reagan passed away, unfortunately, 5 months later Taylor just passed away, which delayed everything meaning the status didn't go up till 2008. It's a strange place for it because there's no reason to believe that he ever set foot in the small town. It shows Reagan off as pro-business and pro-military in a tight-fitting business suit, saluting.

It may actually look familiar this because it was used as the backdrop for many talks that the Tea Party talks. Jeff Crouere discussed how Reagan's tax cuts in 1981 actually created 21 million jobs. Unfortanly when many consider Reagan be that in a positive or negative way it always about money and his economy strategies, like how either his strategy worked or didn't. Many forget that it was in enough to save and set up a better social security. Which very limits his presidency. But he is something that both Republicans adore him, and even Democrats can agree on. It's seen that Obama was very much in favour of Reagan, he used his ideas to help bring the divided Congress together. Along with in 2010 Obama gave his Christmas address he read from Reagan biography. But he really needs to be remembered as the man without the Berlin wall would have never have fallen without him. 

Source; 
http://www.roadsideamerica.com/story/18405
http://edition.cnn.com/2011/OPINION/02/02/rollins.reagan/index.html?iref=allsearch