SOC 105 Lecture Notes - Lecture 3: Median Income
19 Oct 2016
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Document Summary
A system for the production of commodities or services for exchange in order to make profit. Control labour keep wages low as possible. Dominant trade was the trading of goods. Total face value of all global derivatives= trillion plus. ,000 bills end to end 93 million miles (earth to sun) Derivatives can be used to collateralize other derivatives. Pattern average income of the 3 lowest quintiles has decreased while the upper 2 have increased substantially. Top 100 ceos average national pay in canada ,000 every 9. 5 hours of work. Top 10% median net worth ,100,000 up 40% in 10 years. Top 30% 82. 5% of all wealth in canada. Wealth and income wealth is much more unevenly distributed than income in. Top 20% hold about 69% of wealth. Bottom 20% hold about 0. 1% of wealth. Bottom 20% receive about 4% of income. <1% have 1-5 million us to invest.
