Intro to Social Class

Social Class

the relative rank of people in a society

• an identity

• state of being and having

what is the best proxy for social class

occupation

Economic capital

Income + Capital

• made up of both cultural and social capital

Cultural capital

knowledge + competencies

how is cultural capital acquired?

formal education and family taste/mannerisms

Social Capital

who someone knows + what they can do for him/herSoci

Social mobility

moving from one social class to another

• accumulation of capital: upward

• loss of capital: downward

Status symbols

consumption that marks a person’s position in the social class structure. many objects can overlap

• home, car, clothes, food, beverage, vacation, hobby

Lifestyles

combination of forms of capital into a coherent set of preferences seen as distinctive.

• objects and activités fit to form a larger sense of identity: hipsters, cowboys, vegan

Income

what people make from work, investments, and government assistance. does NOT include family wealth

Wealth

ASSETS: savings, real estate

• top 1%

Upper Strata

• growth of luxury markets

• acute power to shape culture/law

Middle Strata

• price sensitivity/debt

• rise of credit cards, financing services, discount stores

Lower Strata

• + reliance on welfare system

• + tax pressure on others

what do these strata’s create

mistrust, resentment, polarization