SOCI 250 Lecture Notes - Lecture 7: Bourgeoisie, Communism, Small Business
18 Feb 2015
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Income: amount of money made on pay check aka wages. Wealth: accumulated assets (house, car, boat & investments, funds, company stocks) But real concern is wealth disparity is growing substantially. Inheritance for a lifetime - not meritocracy but parent"s hard work. Assumed that everything is sold upon death and taxed 50% Conservative argument: double tax bc prents pay taxes their whole life. Liberal argument: you didn"t earn it - the rich don"t get what they get bc of meritocracy. Loophole: can give house to child before dying. Father"s years of education -> r"s years of education \ Sei of father"s occupation -> sei of r"s rst occupation / v. *** sei of father"s occupation = strongest predictor of. Mode of production: overall system of economic activity (e. g slavery, feudalism, capitalism), including means of production (technology, investments, materials) & social relations of production (class relations) Proletariat: working class, exchange labor for wages. Petite bourgeoisie: small business owners, farmers, etc.
