SOC 103 Chapter 10: Chapter 10 - Inequality of Wealth and Income
11 Dec 2015
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Chapter 10 - inequality of wealth and income. Status symbols: not only housing/manner of dress but also speech/abilities. Mass production today serves no purpose other than status symbols. Humans needs affirmation from others, today wealth/objects are valued things. Income - earnings (more commonly focused on) Wealth - assets-liabilities (more true measure of economic power) 1980s, shift away from welfare state to free-market economy promoted. Growing generational income gap, careers starting earlier, paid less. Meritocracy: society where advancement is based on idv ability/achievement. Order theories see capitalist societies as meritocracy. Functionalists: since social classing is so prevalent, must serve as an essential societal function. Davis-moore theory: unequal allocation of societal rewards (material/social) is universal and functionally necessary in all societies - some motivation is necessary to fill in important/difficult occupations. Unequal rewards of occupational structure ensures that all jobs are functionally necessary for society to be filled.
