This preview shows page 1. Sign up to view the full content.
Unformatted text preview: control 76% of all assets. Further, the assets controlled by the poor tend to depreciate (household items) over time while those of the rich tend to appreciate (real estate and stocks) . Income Appelbaum & Chambliss (1997:134) defines income as "the amount of money a person or household earns in a given period of time (usually a year)." The gap between rich and poor is also very unequal and it is increasing. The Distribution of Income in Industrial Societies: Household Income Per Capita Bottom Quintile Top Quintile UK, 1979 5.8 39.5 Germany, 1984 6.8 38.7 U.S., 1985 4.7 41.9 Sweden, 1981 8.0 36.9 Japan 8.7 37.5 Source: WDR, 1991:263...
View Full Document
This note was uploaded on 11/08/2011 for the course SCIE SYG2000 taught by Professor Bernhardt during the Fall '10 term at Broward College.
- Fall '10