SOC 102 Lecture Notes - Lecture 4: Exxonmobil, Real Income, Anthem Inc.
Document Summary
You can have extreme inequality or you can have a democracy but you can"t have both. No you can not: what is the relationship between economic inequality and power, economic power, political power continue on a downward spiral. Means of production: net worth: what you own minus what you owe, financial wealth: easily converted to cash or income producing ( stocks, bonds, trusts, business equity, financial securities, commercial property) 3. in terms of power: owning financial wealth means owning the means of production: net worth by household. Wealthy people at the top, poor people at the bottom. Families combined (. 7 billion: wealthiest 15 people +,000,000,000 in last two years. As their share of the wealth goes up, ours goes down. 2: top 1% = 35, top 20% = 89% (80% of the population has 11% of the wealth--- us, median family ,300 (2014) down from ,000 (2005) http://www. census. gov/people/wealth/files/wealth%20distribution%2020.
