SOC 174 Lecture Notes - Income Distribution, Food Security, Social Stratification
Document Summary
Economic changes cannot be summarized in a single number. Need to look at it from many angles. Major economic changes since wwii: phase 1: the boom years (1950s & 1960s, phase 2: the disconnection (1973-1990s, phase 3: new era (2000-present) 1950s & 1960s: boom years: productivity increasing. Low unemployment: good jobs (manufacturing, rising wages across income distribution. 12% in 1970: oil embargo 1973, recession 1974-75, early 1980s, high unemployment, economic growth in 1980s didn"t benefit the poor, declining wages for low educ/blue collar men, growing family income inequality. Late 1990s: some improvement of wages of low-skilled workers economic boom finally. 2000-present: new era: slower economic growth, high-skilled experiencing even more wage growth than low-skilled, sharp increase in family income inequality, real decline for lower half, the great recession" 2008-2009, future of economy-poverty link is uncertain. Poverty: rose 2000-2004, slight decline 2004-06, rose 2007-2012 (no change since. Income inequality: compares both ends of the income distribution.
