SOC10.29.07 - SOC10.29.07 For Wednesday p.329-54 Review p...

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SOC10.29.07 For Wednesday: p.329-54 Review p. 329-43 Read p. 343-54 Stratification System Power-the ability to impose one's will on others, even against their resistance Prestige- Material Resources- Monetary Resources Basic Components Wealth-dollar value of a person or family's material possessions minus debt Wealth in the US is very unequally distributed Top 10% median net worth $833,000 105x net worth of the poorest 20% of families whose net worth is only about $7900 Fairly distinct differences in net worth of different racial and ethnic groups 1995? 2005? Median worth of white families over 14x that of black families 11x that of Hispanic families Lingering effects of policies put in affect after WWII made mortgages available to white families Income-Wages, salaries, rent, capital gains Income inequality is growing dramatically in the US. In 2005, the share of the national income that went to the richest 1% population was 28.1% Most intense concentration of income in US since the immediate runup of the stock market crash of 29 2005, richest 300,000 Americans collectively received as much income as the bottom 50% (150million) of Americans 2005 top 10% received 48.5% of all income generated in the uss
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This note was uploaded on 04/20/2008 for the course SOC 302 taught by Professor Langenkamp during the Fall '08 term at University of Texas.

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SOC10.29.07 - SOC10.29.07 For Wednesday p.329-54 Review p...

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