Income Disparity

Income Disparity - areas, while accepting loans in white...

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Income- (pay check) wages and salaries earned from employment, retirement, and government aid. Wealth- owned assets that yield monetary return, such as stocks and bonds, savings accounts, houses and real estate, and business farm and ownership. Segregated Labor Force- history of racial domination in the work force left us with this, job segregation helps explain income inequality. Once a jobs “status” declines, so do the wages, so the influx of nonwhites into certain jobs pulls down the wage and the status of that job. Redlining - the practice of some banks refusing to offer loans for homes in nonwhite
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Unformatted text preview: areas, while accepting loans in white areas. Embedded- the economy is embedded in society, its history, culture, and cleavages. Poverty line- determines whether income is enough to sustain a decent standard of living, what is called the poverty threshold. Black Ghetto- a racial institution marked by social isolation and economic vulnerability first formed when blacks emigrated north during the early 20 th century. Isolated residents suffer from pandemic unemployment and are cut off from social networks of working people who know job opportunities....
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