SOCA01H3 Chapter 8: Chapter 8 Notes
Document Summary
Materialism: the attempt to satisfy needs by buying products or experiences. Quintile: lowest quintile second quintile third quintile fourth quintile highest. Human capital: is the sum of useful skills and knowledge than an individual posseses. human capital theory stresses the increasing centrality of education as a factor affecting economic success. Social capital: refers to the networks or connections that individuals possess. Cultural capital: is the stock of learning and skills that increases the chance of securing a superior job. Natural talent + effort + skill-rich environments + developed skills --------- rewards. Natural talent + effort + skill-rich environments + developed skills + social and cultural. Myth 1: people are poor because they don"t want to work. Myth 2: the overwhelming majority of poor people are immigrants. Myth 3: the welfare rolls are crammed with young people who ought to be earning a living. Myth 4: most poor people are trapped in poverty.
