SOC 101 Lecture Notes - Lecture 20: Heritability, Ushas, Instructure
April 10th, 2018
Social Institutions: The Economy
Economy as an Institution
• The economy, which is our system of producing and distributing goods and services, has changed drastically
over time.
• There are different types of economic systems, based on different ideologies
o EX) pure socialism
▪ The public owns the means of production
▪ Central committees plan production, set prices. No competition
▪ No profit motive in the distribution of goods and services
o EX) pure capitalism
▪ Individuals own the means of production
▪ Based on competition, the owners determine production and set prices
▪ The pursuit of profit is the reason for distributing goods and services
• However, due to industrialization and globalization, convergence of these two systems is occurring.
Economic Mobility
• Three types of social mobility
o Intergenerational mobility
▪ Change in SES from one generation to the next
o Structural mobility
▪ M ‘’ f changes in structure of society,
rather than the actions of individuals
• EX) the story of two immigrants
• Mobility is possible, but increasingly more difficult
o I y ’ relative
income
▪ In 1987 the income heritability was about 20%
▪ In 2001 the income heritability was around 50-60%
o The United States has lower overall mobility rates than many other developed nations
▪ The US has a greater rate of income heritability (and thus lower mobility) than: Denmark,
Australia, Norway, Finland, Canada, Sweden, Germany, Spain, France, Switzerland,
Pakistan, and Singapore
Intersections
• The economy is a primary institution, which influences secondary institutions such as family and education
• The economy also intersects with social structure (race, class, gender, etc.)
How does our position in the social structure shape our experience of the economy as an institution
?
April 12th, 2018
Defining Marriage and Family
• Defining marriage and family is complex as they differ by culture
• Marriage
o A ’ , y y ’
• Family
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