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Soc 140 Lec sept 18

Soc 140 Lec sept 18 - Soc 140 Lec charismatic dominates...

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Soc 140 Lec – Sept 18, 2007 - charismatic – dominates people by virtue of their qualities which are unable (?able) and inaccessible (?accessible) to others, incompatible with the rules that govern everyday life - people typically surrender themselves to such leaders because they are carried away by the belief in the manifestations and submit to these leaders, turn away from established rules and submit to the new order that the leader proclaims - these are not people you find in conventional politics - concentration of income that’s been underway is due to the revolution in technology and trade, the second factor that has contributed to this is that wages have stagnated (and wages are the principle source of middle and lower class income) since the late 1970s - life under the republican administrations from the 80s on have been important sources for income from other sources (ex. Rent, dividends (from stocks and bonds), capital gains (wealth generating asset, ex. Buying and selling a house later), interest income (from different savings, etc.) and these have gain massively relative to wages and salary. Have generated a whole lot more in earnings than wages and salaries have. Increasing economic inequality. - The median hourly wage went down 2% since 2003 (accounting for inflation), it has been notable because productivity has risen steadily, wages makes up the lowest part of the GDP (but corporate shares are rising steadily) - In 1986, the joint economic committee released federal reserve findings that the share of wealth held by the super rich had risen significantly after falling during the previous 4 decades - The US’s top 420,000 households, the top of the economic ladder, accounted for 26.9% of the nation’s wealth. The top 10 % controls 68% of the nation’s wealth -
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