SOCIOL 224 Chapter Notes - Chapter 7: Kuznets Curve, Class Conflict, Conspicuous Consumption
Document Summary
Revision: end goes up (pic in ppt slides) Is a separate issue from how one gets rich . Sometimes getting rich doesnt involve working at all. 4 pathways to wealth creation and expansion. Own co. that grabs large share of market. Invention, establish co. pass on to heirs. Less focused on social issues that divide rest of americans. Collect funds to finance expenditures for the common good. Who gets to keep more of their income than others. Income: flow of dollars received during a period of time, usually a year, whether from one"s job, the sale of goods, or profit from investment. Distribution of income is limiting if the goal is to either count the rich or to understand their true economic circumstances. Some people have occupations that lead to truly high incomes because of the demand for their services is high and talent is limited. Income is unstable unless it is converted into wealth.
