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Unformatted text preview: MYTHS ABOUT SOCIAL CLASS IN THE U.S. Myth #1: The U.S. is fundamentally a classless society and whatever economic differences exist are largely insignificant.-- Allude again to skewed distribution of income, consumer goods, and capital goods in America and how this was illustrated through our distribution of candy...-- Today let’s begin by looking in more depth at Capital Goods and the distribution of wealth in America: CAPITAL GOODS - Items/resources that make more money for you > e.g., stocks, bonds, real estate, rental property, etc. ** What's more important, consumer goods or capital goods? (Latter, of course) Patterns of distribution re: wealth in America ** Bill Gates (of Microsoft) has more wealth than 40 percent of the U.S. population! 1) The richest 10 percent of the American population owns 73 percent of the total wealth and 90 percent of corporate stocks; The richest 1 percent owns 60 percent of the total wealth and 62 percent of corporate stocks... The poorest 20 percent has the total wealth and 62 percent of corporate stocks....
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This note was uploaded on 11/17/2011 for the course SCIE SYG2000 taught by Professor Bernhardt during the Fall '10 term at Broward College.
- Fall '10