SOC 1101 Chapter Notes - Chapter 8: Gini Coefficient, Bourgeoisie, Feudalism
27 Sep 2016
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Social stratification: refers to the way in which society is organized in layers of strata. Gini coefficient: reports the proportion of total income that would have to be redistributed for perfect equality to exist. Vary between 0 (every family earns exactly the same amount) and 1. 0 (one family earns everything) Social capital: refers to the networks or connections that individuals possess. People are more likely to succeed when they have stronger connections giving them an advantage when finding different opportunities. Cultural capital: is the stock of knowledge, tastes, and habits that legitimate the maintenance of status and power. Low-income cutoff: the income threshold (poverty line) below which a family devotes at least. 20% more of its income to the necessities of food, shelter, and clothing than does and average family. Feudalism: legal arrangement in preindustrial europe that bound peasants to the land and obliged them to give their landlords a set part of their harvest.
