SOC101 Chapter Notes - Chapter 8: Thorstein Veblen, Ascribed Status, Status Group
15 Dec 2013
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Document Summary
Our realities are socially constructed we become human through a social process, and our understanding of the world is framed by social experiences. Class and status class (socio-economic class) refers to one"s position within a society"s economic hierarchy. Typical designations include upper, middle, and lower class. In contrast, status refers to one"s social position in terms of privilege and esteem. Economic elite are the men and women who hold economic power in a society. Researchers often operationalize this concept in terms of reported financial assets (or wealth) and/or leadership positions on the boards of key (largest 100) corporations. Economic power can also be interconnected with inequality concepts such as the social factors (gender, ethnicity, race, age, sexual orientation, etc. ) which play an important mediating role. Broad categories of individuals such as women, ethnic and racial minorities, disabled, etc. are generally at much greater risk of being both relatively poor and powerless.
