SOC 369 Lecture 6: 2.20.19 Lecture 6
20 Feb 2019
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Document Summary
Turn in society during 60s towards greater racial and ethnic diversity and egalitarianism. New money was so enormous it swamped the defenses of. Agricultural base meant wealth didn"t move easily or quickly. Rise of urban aristocracy in boston, philly and ny as city populations grew and banking became more lucrative. Success stories of entrepreneurs in the north. The invention of financial instruments like ipo. A large shift in wealth from south to urban north. The rise of a few families who were many times wealthier than the agrarian elite. Tax rates not favorable to the rich. Working and middle classes gained ground with wwii. Most equal distribution of wealth in our history. Trends in finances, technology, and regulation conspire to shake things up. Creation of huge pools of venture capital. Household tasks are outsourced to paid staff members who must be managed. Family vacations become like company retreats where capital spending is discussed and planned.
