Social Problem6 - wealth, 68 percent, is owned by only 10...

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Social Problems Darryl Hall Poverty and Wealth Social Stratification refers to the unequal manner in which scarce resources and social rewards are distributed among different social categories and groups. Social Classes are categories of people who have similar access to resources and opportunities. Life Chances refer to the likelihood of realizing a certain standard of living or quality of life, including health and well-being. - Wealth refers to the total economic assets owned by a person or family; it consists of property and income. Property comes in many forms, such as buildings, land, animals, machinery , cars, stocks, bonds, businesses, and bank accounts. Income is money received as wages, rents, interest, royalties, or the proceeds from a business. - Large differences of income and wealth have existed as long as these data have been collected. Wealth is highly concentrated. The majority of
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Unformatted text preview: wealth, 68 percent, is owned by only 10 percent of the nations families. The super-rich, the richest 1 percent of U.S. families, are worth more than the entire bottom 90 percent of Americans. This unequal distribution of income and wealth has been remarkably stable; the changes that do occur indicate growing inequality.- Also, there have been persistent differences in income and wealth between men and women, the young and old, and white and non-white Americans. The income inequality of a population is commonly measured using the Gini index . The Gini index ranges from 0, indicating perfect equality to 1, indicating perfect inequality. The increase in the Gini index for household income between 1970 and 1999 indicates a significant increase in income inequality....
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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.

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Social Problem6 - wealth, 68 percent, is owned by only 10...

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