Final answer:
The formation of a new middle class during the Industrial Revolution included skilled workers, professionals, and business people who advanced through industrialization. They did not all form a new upper class but contributed to a socio-economic spectrum with varying levels of wealth and status, with some possibly rising to the upper class.
Step-by-step explanation:
The statement that skilled workers, professionals, business people, and wealthy farmers formed a new upper class is partly true, but it doesn't fully capture the complexity of the social stratification that occurred during and after the Industrial Revolution. Instead, these groups largely contributed to the formation of a new middle class with varying levels of wealth and social standing. Skilled workers like engineers, foremen, accountants, and bureaucrats became essential for managing the burgeoning industrial enterprises, but they did not necessarily become part of an upper class. Many of these individuals were from families with some existing wealth, which provided them with the resources and education needed to acquire such positions. Meanwhile, the wealthiest individuals and families—those who could be considered the upper class—were often distinguished by either old money, such as the aristocracy, or by substantial new wealth accumulated through successful entrepreneurship in manufacturing and other commercial ventures.
Moreover, the large professional class encompassed numerous skilled occupations, including bankers, physicians, scribes, and merchants. These professions, often regulated by guilds ensuring high professional standards, contributed to the diverse socio-economic fabric. Small farmers, craftsmen, and merchants created a basis for agricultural and commercial economies, but their involvement in trade or farming didn't automatically elevate them to the upper class. However, some artisans and entrepreneurs who excelled in manufacturing successfully transitioned into a new economic elite, thus potentially forming part of an emerging upper class.
In terms of cultural development, the middle classes placed a high value on work, consumption, and education, with aspirations toward maintaining or advancing their social status. The rise of the middle class was marked by a distinct separation from both the lower working class and the wealthier classes, each maintaining its own societal norms and values. In contrast, the wealthy elites were often perceived as more corrupt and more likely to manipulate laws to their benefit. This contrasted with the aspirations and hard work ethos championed by the middle class.