Economic Inequality and Social Stratification

These flashcards cover key concepts related to economic inequality, social mobility, stratification, and class structure as discussed in the lecture.

What are the physical consequences of a lack of economic resources according to the lecture notes?

They can directly affect people's lives, particularly in neighborhoods facing significant flooding.

How does the poverty level differ between neighborhoods with significant flooding and those with little or no flooding?

Neighborhoods with significant flooding have a lower median income, a higher poverty rate, and a higher percentage of households without a vehicle.

What is social mobility?

The movement of people or groups from one class to another.

How long can it take to erase the advantages or disadvantages of one’s family in terms of social mobility?

It is common for it to take 5-6 generations.

What does the term 'social stratification' refer to?

It refers to the structured system of ranking entire groups of people that perpetuates unequal rewards and life chances.

What are different systems of stratification mentioned in the notes?

Slavery, caste system, and estate (feudal) system.

What constitutes absolute poverty?

A condition where an individual does not have the financial means to obtain commodities to sustain life.

What is relative poverty?

The standard of living compared to economic standards of living within the same surroundings.

What defines social class as per the lecture notes?

A group of people who share a similar economic position in society, based on wealth and income.

What percentage of U.S. wealth is held by the wealthiest 20% of the population?

About 80% of the wealth.

What is the poverty rate in the U.S. detailed in the lecture notes?

The percentage of U.S. residents whose income falls below the poverty line.

What is one of the visible consequences of poverty mentioned in the notes?

Homelessness.

What is the poverty line for a family of four as of 2006?

An annual income of $20,444.

What type of poverty is characterized by families earning just above the poverty line?

Near-poor and working poor.

According to the notes, how does income inequality manifest in the U.S.?

The U.S. has the greatest income inequality among industrialized nations.

What does the conflict perspective argue about stratification?

Inequality is a reflection of unequal distribution of power and resources, and is a primary source of conflict.

What is the Marxian class model based on?

Ownership of means of production and the ability to purchase or control the labor of others.

What was Herbert Spencer's viewpoint on social stratification?

He believed that social stratification is necessary and serves functions in society.

How does class consciousness relate to Marx's theories?

It refers to the awareness of one's social class and its role in the dynamics of power and exploitation.

What is Max Weber's contribution to the understanding of stratification?

He added status and power as dimensions to the concept of socioeconomic status.

What are the major classes in the U.S. identified in the lecture notes?

Upper class, middle class, working class, and the poor.