SOCA01H3 Study Guide - Economic Inequality

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3 Mar 2011

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Regarding the sale of body parts people selling body parts are almost invariably poor and people buying body parts are invariably rich. Materialism, the attempt to satisfy needs by buying products or experiences, is a defining characteristic of modern society economic prosperity has made canada one of the best countries to live in. Figure 8. 1 shows growth of prosperity in post-ww2 canadian economy (note: incomes in graph corrected for inflation) today"s average income versus. Purchasing power of families rose b/c economic productivity was enhanced by improvements in workers" skills and by advances in the technologies used for production. Figure 8. 1 simplification b/c it is based on averages. Economic prosperity and benefits of materialism are not equally shared. Two extremes (rich and poor) most of use inb/w the two extremes. Best way to measure inequality that falls b/w these two extremes organize into quintiles.

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