SOC 112 Lecture : The Social World II - complete course notes
Document Summary
Power ability to influence others" actions. Privilege access to power and resources. Prestige honour and respect in society. Shown by income and wealth in capitalist society through socially-created status symbols. Economic power = income + wealth debt. Wages, salaries and all assets: real estate, cars, bank accounts government assistance stocks & investments, rrsp/resp. Average wages have risen, but the gap between the highest and lowest income jobs are growing real wages for most have fallen. Intergenerational gap in income: young workers start off with lower wages, make less, and make less progress (eg. promotions) Some individuals are more disadvantaged than others and make less money: racialized, females, disabled, and immigrants: wealth. The gap in wealth is growing, with the top 10% of families holding 58% of the wealth, and 24% of families with no wealth. Meritocracy: social hierarchical position is based on personal merit, and each individual gets what they deserve.
