1Social Inequality*****•Social inequalityis the existence of…significant differences in access to goods andservices among social groups (e.g., class, ethnicity, gender)oKeep in mind that there are many reasons why people experience social inequalityoThe main term to talk about social inequality for Marx is“class”although differentsociological theorists focus on different causes and issuesoCanada has one of the highest standards of living in the world but is stillcharacterized by social inequalityoDifferences in access to goods and services depends on wealth…*****•Financial wealthis determined by:oProperty, savings, investments andincome—what is income?ØIncome is the amount of money earned in a given period.ØThe number of earners per family has increased as more women have enteredthe workforce.ØCanadian families are earning more than half a century ago because people aregenerally more skilled BUT income gaps are widening not shrinking betweenthe rich and pooroFinancial wealth is also determined bynet worth–what is net worth?ØWhich includes assets (what you own or have) minus liabilities (what youowe/debt)•Wealth is measured according to thesocial classthat people are in—what is class?Classis the position in an economic hierarchy occupied by people who share similar access tomaterial resourcesØHigh class/Upper class:owners of society, includes the rich, people who ownresources, typically categorized as people who earn more than 250K+ per yearØMiddle class:can be distinguished as upper middle class, middle class or lowermiddle class. Occupations range from clerical and blue collar to semiprofessional and managers. Blue collar is considered skilled or unskilled labour,such as construction, maintenance or other‘physical work.’People in themiddle class can be doctors, teachers, bank managers, etc.ØLower class (includes working class):generally lack resources. This grouptypically earns less than 41K per year. This group can include the working classor those who are impoverished. This group can involve people who work inunskilled labour, which often involves limited skills, low educationalattainment, low wages and repetitive tasksMORE INFORMATION ON NEXT PAGE
