Study Plan: Social Stratification and Inequality

global stratification

compares the unequal wealth, economic stability, status, and power of countries across the world

social inequality

is the state of unequal distribution of valued goods and opportunities

social stratification

a system of ranking individuals and groups within societies

capital flight

the movement (flight) of capital from one nation to another, via jobs and resources

core nations

dominant capitalist countries

debt accumulation

the buildup of external debt, wherein countries borrow money from other nations to fund their expansion or growth goals

deindustrialization

the loss of industrial production, usually to peripheral and semi-peripheral nations where the costs are lower

first world

a term from the Cold War era (1945-1991) that is used to describe industrialized capitalist nations

fourth world

a term that describes stigmatized minority groups who have no voice or representation on the world stage

global stratification

a comparison of the wealth, economic stability, status, and power of countries as a whole

gross national income (GNI)

the income of a nation calculated based on goods and services produced, plus income earned by citizens and corporations headquartered in that country

peripheral nations

nations on the fringes of the global economy, dominated by core nations, with very little industrialization

second world

a term from the Cold War era (1945-1991) that describes nations with moderate economies and standards of living which were aligned with communist state power during that period

semi-peripheral nations

in-between nations, not powerful enough to dictate policy but acting as a major source of raw materials and an expanding middle class marketplace

standard of living

the level of wealth available to acquire material goods and comforts to maintain a particular socioeconomic lifestyle

third world

a term from the Cold War era (1945-1991) that refers to poor, unindustrialized countries that were often not aligned with either capitalist or communist state power during that period

caste system

a system in which people are born into a social standing that they will retain their entire lives

chattel slavery

a form of slavery in which one person owns another (“chattel” means “property”)

class

a group that shares a common social status based on factors like wealth, income, education, and occupation

class system

social standing based on social factors and individual accomplishments

debt bondage

the act of people pledging themselves as servants in exchange for money for passage, and are subsequently paid too little to regain their freedom

endogamy

refers to the practice of marrying within one’s own caste category

income

the money a person earns from work or from dividend-paying investments

meritocracy

an ideal system in which demonstrated personal effort and ability—or merit—determines social standing

wealth

the value of money and assets a person has, perhaps due to inheritance

status consistency

the consistency, or lack thereof, of an individual’s rank across social categories like income, education, and occupation

downward mobility

a lowering of one’s social class

feminization of poverty

the high and rising percentage of women who bear the burden of poverty across the globe

intergenerational mobility

a difference in social class between different generations of a family

intragenerational mobility

a difference in social class for one individual within their lifetime

life chances

opportunities for an individual to improve his or her quality of life

social mobility

the ability to change positions within a social stratification system

structural mobility

a societal change that enables a whole group of people to move up or down the class ladder

upward mobility

an increase—or upward shift—in social class

extreme poverty

the state where one is barely able, or unable, to afford basic necessities

relative poverty

the state of poverty where one is unable to live the lifestyle of the average person in their country

subjective poverty

a state of poverty composed of many dimensions, subjectively present when one’s actual income does not meet one’s expectations

underground economy

an unregulated economy of labor and goods that operates outside of governance, regulatory systems, or human protections

poverty line

the minimum level of income deemed adequate to maintain a decent standard of living

conspicuous consumption

the act of buying and using products to make a statement about social standing

Davis-Moore thesis

a thesis that argues some social stratification is a social necessity

dependency theory

a theory which states that global inequity is due to the exploitation of peripheral and semi-peripheral nations by core nations

modernization theory

a theory that low-income countries can improve their global economic standing by industrialization of infrastructure and a shift in cultural attitudes towards work