SOC 001 Notes Chapter 8

SOC 001 Notes Chapter 8 - CHAPTER 8 Social Class in the...

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CHAPTER 8 – Social Class in the United States Property Social Class – a large group of people who rank close to one another in wealth, prestige, and power Property – the total value of all assets minus debts Wealth – the total value of all assets minus debts Income – money received from a job, business, or assets The wealthiest 10% of Americans own 70% of the nation’s wealth. CEOs have 156 times higher pay than the average U.S. worker. Power Power – the ability to carry out your will, even over the resistance of others Power Elite – the top people in U.S. corporations, military, and politics who make the nation’s decisions C. Wright Mills insists that power is in the hands of a like-minded group of wealthy individuals who share similar backgrounds and interests. William Domhoff argues further that all major government decisions are made by this group. There exists a “democratic façade” that all people have a say in decisions. Prestige Prestige – respect or regard The jobs with the most prestige have higher pay, require more education, and offer greater independence. Prestige influences how people think. Clothing, houses, colleges all have different levels of prestige and as a result carried with it status symbols of varying social class. EX: Harvard Degree vs. Community College Degree, Versace vs. Walmart Status Inconsistency Status – the position that someone occupies in society or in a social group Status Consistency – ranking high or low on all three dimension of social class Status Inconsistency – ranking high on some dimensions of social class and low on others
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SOC 001 Notes Chapter 8 - CHAPTER 8 Social Class in the...

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