SOCI 139 Lecture Notes - Savings Account, Shmoo
Document Summary
What the comparison of the two families illustrates is the inadequacy of relying on income alone to describe the social and economic circumstances of families at the lower end of the economic scale. Lack of property ownership can be attributed to this story. They were able to pay off their mortgage entirely and had no mortgage at all. Man had a good job, and company folded and started flipping burgers. The smiths were in a similar situation -- could not find a place to live because of the real estate agent. The smith drained their savings, wife moved out lived with her parents and eventually got divorced. The smiths were just above the poverty threshold at that point and were not defined as poor. Conley wants to see the effect of x, y, z variables are while being this family. Being income -- let"s compare how these variables affect the wellbeing of both families.
