SOC 104 Lecture Notes - Lecture 10: Meritocracy, Feudalism, Economic Mobility
20 Apr 2016
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Document Summary
Absolute poverty: unable to meet basic needs. Relative poverty: statistical measure of income (i. e. lowest 10% vs. top 10%) Measures of income: licos 20% more of their income (than the average family) on basic needs, lim income below the median level, mbm income needed to afford basic necessities. Neoliberal logic: there is a price to pay for reducing poverty . Only if the rich get richer will the poor be better off. Feudalism was a closed system; capitalism gives you the freedom to move (up or down) Thus, jobs that are more important, difficult, or expensive to train for garner higher pay. There is a partial meritocracy and class relations. Those in the economic class: can avoid taxes and pay their executives bonuses, pay for their children"s lengthy education etc. Class/economic position is more of a determinant for economic well-being than talent. The state economically filters from poor to rich (current taxation is increasingly regressive)
