SOC100H5 Chapter Notes - Chapter 6: University Of Toronto Mississauga, Social Stratification, International Inequality
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SOC100H5 Full Course Notes
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Document Summary
Chapter 6: social stratification: canadian and global perspectives. Social stratification - the way society is organized in layers or strata. Wealth - assets you own minus liabilities (house (minus mortgage), savings etc. ) Wealth can also give you more political influence. Campaign contributions to political parties and donations to favourite political causes increase the change that polices you favour will become law. Affordance to engage in leisure pursuits, high quality things & superior healthcare. Splitting the population into 5 quintiles based on net worth, the richest families are the big winners and gains of wealth decrease as you move down the scale. Net worth of the richest quintile increased more than 64% in a 20 year period. Income - amount of money earned in a given period. 2011, average canadian family earned about 20x more than the average family did in 1951. More than half the gain was due to inflation.
