SY101 Lecture Notes - Lecture 12: Old Money, Lower Middle Class, Bourgeoisie
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Social strati cation: davis and moore: (functionalists maintain equilibrium, strati cation is inevitable, it will always be there. But it does not work this way. (e. g. the best predictor of collage entrance is a family income, not ability). If you know someone you can get the job, not based on merit: noted that strati cation is dysfunctional to many people, thus not functional to society. Con ict theories: stress that con ict, not function is the basis of social strati cation. Every society has as limited amount of recourses. Updating weber: gilbert & kahl (weber, developed a 6 class model to pottery the class structure in the us and other capitalist countries, old money (super rich) constitute about 1. 1% of population. Capitalist class is composed of investors, people who inherit their money, executives. It is divided into old money and new money. Desired to move new money to old money: upper + lower middle class contains about 26. 5% of population.
