SOC 101 Study Guide - Final Guide: Labour Power, Savings Account, Class Conflict
26 Mar 2019
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Means of production = control over conditions of work. Poor (unemployed), working class (factory work), middle class (manager), and upper class (ceo) Income/wealth = control over means of production is power/money. Income- money you earn on a regular basis from work or investments. Wealth: assets + income - debt (pensions, real estate, college funds) Marx and engels defined social class as: Proletariats- workers who sell their labor power to employers. Bourgeoisie- own the means of production and produce value from the workers" labor. All history is the history of class struggle. Social class is intergenerational because children born into low-income households are likely to remain at the lower end of the income distribution as adults. Material resources- help with college or purchasing a house, etc (starting out with less debt and more wealth) Social capital- social networks, social support, etc. Cultural capital- learning how to deal with authorities, knowing how to get into college, opening a savings account, etc.
