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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