SOCNotesTEST3 - 03.23.10 Stratification I A...

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03.23.10 Stratification I. What is  stratification? A. Definition- the unequal distribution of things in life and what people find to be important in  their lives.  All societies have some form of inequality, but they vary in extremity. 1) The  amount of inequality 2) how much upward and downward social mobility is present (how  easy is it to move up and down the stratification system?) B. Dimensions of stratification 1. Power- the ability to impose your will on other people, even if they don’t want to.  Ex:  parents exercise power over their children, paying taxes, bosses having power, black  mail, class attendance 2. Prestige (status: a position in social space) - fairly synonymous with respect.  Some  statuses have more prestige attached to them than others.  Ex: a parent has more  prestige over a child. 3. Material Resources- money, land, investment property, stocks/bonds, artwork Wealth (or net worth)- the total dollar value of a person’s assets minus their liabilities. Income- the money we get from our salaries or our wages.  The money landlords get  from rent, dividends.  It also includes money people get in the form of capital gains  (Ex: you buy a stock for $10, then sell it for $15, you made $5). -Short-term capital gain: you hold something for less than a year -Long-term capital gain: you hold something for more than a year then sell it. C. Life Chances- what we eat, where we live, where we go to school and how much school  we are able to get.  *Everything that influences our choices in life.  Life chances are  influenced by our position on the stratification system. - Class: an aggregate of people who share similar economic positioning, therefore they  have similar life chances. D. Patterns of Consumption- what we buy. -Ex: buying an expensive pair of jeans sends a message to people and creates a status  symbol. -clothes become more than just clothes.  They take on a symbolic meaning. 1. Consumer society- where people are evaluated largely in terms of the stuff that they own.  Ex: a house isn’t just a place to live, it says who we are. II. U.S. Income Inequality  A. “Snapshots” (different ways to look at) -2005 share of national income going to the top 1% of population was 21.8% 2004 is was  19.8%
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-2005 top 300 thousand people in US earn as much money collectively as the bottom 150  million people. Same year top 10% earn 48.5% of national income -1950-1970 every additional dollar earn by the bottom 90% of population the top 100 of 1% of  the population earn an additional 162 dollars.
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