SOC 1101 Chapter Notes - Chapter NA: Social Mobility, Blue-Collar Worker, Economic Inequality
Document Summary
Young adults are sinking financially, no matter their class, backgrouns or life experiences. In 1950s, establishing one"s self as adult was fairly simple move out of parents" house, get a job, and start a family. Generation debt: credit cards are where debt accrues almost no money is leftover. Perils of parenthood: families with children and two full time parents are more likely to go into debt than single full time parents need car and child care for child. Then versus now: the very different experiences of two generations: social mobility is declining fundamental shift in nation"s priorities and political ideology. Loss of faith in politics: electorate have lost faith in government"s ability to solve problems, young adult voter turnout has steadily declined. New brand of capitalism: economy is now winner take all system in which spoils go to top, productivity has grown but workers do not get any increases in wages.
