SOC 101 Lecture Notes - Lecture 9: Meritocracy, Social Mobility, Social Stratification
Document Summary
We are 64th in income inequality in the world. The typical male worker in 1984 earned ,000 while the top % made ,000. Now, 400 people have more than half of the money in the usa. Irs tax data show that 1928 and 2007 are peak years where the top 1% controlled over. 23% of income the middle class is what keeps our economy going. 1% spent insane amount of money on stocks. While the middle class spent everything that they have, just to survive. Basically ,000 - ,000 is supposedly middle class. However, upper class starts at ,000 if it stays strong, and grows, then so does our economy the rich spend too little of their money every year, while makes money stop generating. Social inequality condition in which members of society have different amounts of wealth, prestige, or power. Persists over generations: does not reflect individual differences, but society"s structure, social mobility happens slowly.
