Unformatted text preview: rare. Intergenerational mobility: mobility between generations (father-son). Intragenerational mobility: mobility within a generation, during a person’s life. (Start as an assistant, work up to manager) Bourgeoisie: ruling class. Bourgeois: middle class. Poverty line: $9800/ year for individuals | $20,000/ year for family of 4 About 1 in 5 children under the age of six lives in poverty. Rich richer / Poor poorer Gap between rich and poor, widest in history Class differences are inherent in capitalism. Capitalism – private ownership of the means of production, profit is the incentive for economic activity. Som – the means of production are publically owned. Communism – a hypothetical system – all property is communally owned – all members are socially equal. Being black, living in the red Income – salaries, wages, earnings Wealth – total assets, property, savings, stocks, etc. Whites can often depend on relatives...
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- Spring '08
- Marxism, Upper middle class, Bourgeoisie