SOC wealth power prestige exam 1

Karl Marx's basis of social stratification

An individual's relationship to the means of production (ownership vs. non-ownership of productive property).

Marxist stages of societal evolution

Primitive Communism -> Slavery -> Feudalism -> Capitalism -> Socialism -> Pure Communism.

Four forms of alienation in capitalism (Marx)

Alienation from the product(dont own), from the act of production(dont see full product), from self (human potential), and from other workers(cant unionize).

Max Weber's three dimensions of stratification

Class (economic position), Status (prestige/honor), and Party (political power).

Max Weber's definition of power

The ability of an individual or group to realize their will even against the resistance of others.

Davis-Moore thesis on social stratification

Stratification is functionally necessary to ensure important jobs are filled by the most qualified people through rewards.

Main criticism of the Davis-Moore thesis

It ignores inherited privilege and structural barriers, and functional job importance cannot be objectively measured.

How occupational prestige is measured

Through national public opinion surveys asking respondents to rate occupations on a scale of respect or standing.

Why occupational prestige survey results differ

Differences in sample demographics, exact phrasing of questions, or evolving cultural and technological relevance of specific jobs.

Importance of placing ourselves/others in stratification hierarchy

It allows us to manage social interactions, set expectations, understand norms, and navigate societal power dynamics.

White-collar jobs

Professional, managerial, or administrative work typically performed in an office setting requiring higher education.

Pink-collar jobs

Low-paying caregiving, clerical, or service jobs historically dominated by women.

Wealth as social status

High wealth grants access to elite social institutions, powerful networks, exclusive spaces, and political leverage.

Why society is similar to high school

Both are governed by status hierarchies, exclusionary cliques, social visibility, and continuous signaling of prestige.

The Wealth Effect

The psychological tendency for people to spend more as the value of their assets increases, even if cash income stays fixed.

The Great Contradiction of Class

The conflict between democratic ideals of equal opportunity and the structural reality of inherited class privileges.

Historical trend in U.S. wealth ownership

Concentrated in early elites, spiked during the Gilded Age, narrowed mid-20th century, and reached extreme concentration today.

Acquisition of wealth historically vs. today

Historically via land and trade ownership; today via intergenerational inheritance, stock equity, and financial capital.

Changes in rich family wealth over time

Preserved across generations through legal trusts, wealth management, and tax shelters, though diluted if unmanaged across heirs.

Types of wealth held by wealthy vs. middle class

Wealthy hold income-producing assets (stocks, bonds, corporate equity); middle class wealth is mostly residential home equity.

Rich preserving advantages vs. poor seeking rewards (Gilbert Ch. 1)

The rich use political lobbying, capital mobility, and elite networks; the poor/working class use labor unions, voting, and social movements.

Gilbert's distinction between Middle and Working class

Middle class jobs require higher education and offer work autonomy; working class jobs involve routine labor under direct supervision.

Age of Shared Prosperity (Gilbert Ch. 1)

Post-WWII (~1945-1973): High economic growth, rising real wages across all classes, expanding middle class, and declining inequality.

Age of Growing Inequality (Gilbert Ch. 1)

~1973-present: Stagnant worker wages, decoupling of productivity from pay, and heavy wealth concentration at the top.

The Great U-Turn (Gilbert Ch. 1)

The structural pivot in the early 1970s where decades of narrowing economic inequality reversed into rising inequality.

Class distinctions made by different social classes (Gilbert Ch. 2)

Upper classes emphasize wealth lineage and cultural capital; lower classes focus on job stability, work ethic, and living standards.

Most and least common sources of prestige (Gilbert Ch. 2)

Most common: Occupation and education level. Least common: Basic civic standing without educational or economic attainment.

Historical era closest to Marx's capitalist model (Gilbert Ch. 3)

The late 19th-century Gilded Age, characterized by rapid industrialization, weak labor laws, and extreme wealth divides.

Old Middle Class vs. New Middle Class (Gilbert Ch. 3)

Old: Self-employed entrepreneurs, small business owners, and farmers. New: Salaried managers, administrators, and professionals.

Primary driver of class structure changes in Middletown (Gilbert Ch. 3)

Industrialization, corporate consolidation, technological shifts, and the decline of manufacturing labor union strength.

Trends in occupational class structure over time (Gilbert Ch. 3)

Deindustrialization, shrink of middle-tier manufacturing jobs, and expansion of high-skill professional and low-skill service jobs.

Three broad classes of wealth holders (Gilbert Ch. 4)

The Wealthy/Capitalists (financial assets), Middle Class (home equity), and Bottom Tier (zero or negative net worth).

Gilbert's Income Parade concept (Gilbert Ch. 4)

A 1-hour parade where height equals income: mostly short/average figures until massive giants loom in the final seconds.

Income sources for bottom vs. top income quintiles (Gilbert Ch. 4)

Bottom quintiles rely on wages and government transfer payments; top quintiles rely on capital gains, dividends, and business profits.

Factors driving wealth concentration at the top (Gilbert Ch. 4)

Tax cuts for high earners, financial market deregulation, deunionization, globalization, and stock market growth.

Most important cleavage in U.S. class structure (Gilbert Ch. 11)

The divide between college-educated professional-managerials/capitalists and non-college-educated working-class workers.

Short Essay 1 summary: Shared Prosperity vs. Growing Inequality

Shared Prosperity (1945-1973): wages grew with productivity, wealth spread. Growing Inequality (1973-present): wages stagnated, wealth concentrated at top.

Short Essay 2 summary: Stratification theories of Marx vs. Weber

Marx: economic model (means of production: Bourgeoisie vs. Proletariat). Weber: Multidimensional model (Class, Status, Party).