SOC 1105 Lecture 3: SOC 1105
6 Feb 2018
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Document Summary
Many people think of canada as a middle class society but the society is highly stratified. Poor canadian families struggle from day to day to simply make ends meet. Wealthy families control most of the money, benefit from more schooling, and enjoy better health. Social class in canada has several dimensions. People often talk of inequality as if it were determined solely by money. Socio-economic status: is a composite measure of social position that considers also power, occupational prestige and schooling. Income is occupational wages or salaries, earnings from investments, and government transfer payments. In 2011, the average family income was . Two parent (two earner) families have significantly high income. Top 20% gets 44. 3 % of all income (2011) Income is only one component of wealth: the total amount of money and other assets, minus outstanding debts. Stocks, bonds, real estate, and other privately owned property.
