SOC 1100 Chapter Notes - Chapter 11: Blue-Collar Worker, Social Stratification, Visible Minority
17 Apr 2016
School
Department
Course
Professor
Document Summary
Income- occupational wages or salaries, earnings from investments, and government transfer payments (e. g. welfare) Wealth- the total amount of money and other assets, minus outstanding debts. Intragenerational social mobility- a change in social position occurring during a person"s lifetime. Intergenerational social mobility- upward or downward social mobility of children in relation to their parents. Relative poverty- the deprivation of some people in relation to those who have more. Absolute poverty- a deprivation of resources that is life-threatening. Feminization of poverty- the trend by which women represent an increasing proportion of the poor. Income- earnings from work and investments are unequal, with the richest 20% of families earning eight times as much as the poorest 20% of families. Wealth- the total value of all assets minus debts, wealth is distrusted more unequally then income, with the richest 20% of families holding 85% of all wealth. Power- income and wealth (assets such as stock or real estate) are important sources of power.
