KS

classslides (2) 2025-02-25 04_58_51

Understanding Class

  • Definition of Class: A group of people sharing a similar economic position and lifestyle.

  • Marx’s Analysis:

    • Capital: Money for investing in businesses.

    • Capitalist Class (Bourgeoisie): Controls major capital and means of production.

    • Working Class (Proletariat): Lives on wages earned.

Weber’s Perspective

  • Life Chances: Likelihood of obtaining valued economic and cultural resources.

  • Middle Class Importance: Emphasizes the significance of middle class in societal structure.

  • Dimensions of Inequality: Class, social status, and political power.

Class Stratification Theories

  • Structural Functionalism: Davis and Moore argued stratification ensures important positions are filled by qualified individuals.

  • Conflict Theory: Class stratification benefits the rich and powerful, making it neither functional nor inevitable.

Class Inequality in the U.S.

  • Mapping Major Classes:

    • Capitalist Class: Wealth from investments and inherited wealth.

    • Definitions of Wealth and Income: Wealth = financial assets; Income = wages, dividends, etc.

Ideology and Justification of Inequality

  • U.S. Common Ideas:

    • Equal opportunity exists but success is not guaranteed.

    • Merit is the basis for success rather than wealth or status.

    • Individualism emphasizes the importance of the individual.

  • Meritocracy: Belief that success is based on abilities and hard work.

Class Structures in the U.S.

  • Major Classes:

    • Middle Class: Contribution from specialized knowledge.

    • Working Class: Laborers in varied professions.

    • Underclass: Those who are chronically unemployed.

Class Mobility and Barriers

  • Class Mobility: Ability to move between social classes.

  • Types of Mobility:

    • Structural Mobility: Change in class due to shifts in occupations.

    • Individual Mobility: Change in class without societal shifts.

Defining & Measuring Poverty

  • Absolute Poverty: Life-threatening scarcity of resources.

  • Relative Poverty: Lack of resources to meet societal acceptable standards.

  • Poverty Line: The threshold determiner for resource scarcity, adjusted for family size.

U.S. Inequality in Global Context

  • Trends: Significant increase in income inequality since the Great Depression.

  • Deindustrialization: Decrease in national manufacturing investments.

Global Inequality and Poverty

  • Global Context: Disparities between wealthy and poor nations. Extreme poverty affects 10% of the world population.

  • Per-Capita Income Levels: Variances based on economic classifications.

Global Wealth Distribution

  • The richest 1% controls 48% of the world’s wealth.

  • High-Income Nations: Defined as having a gross national income per capita of at least $12,536.

  • Capital Flight: Movement of investments from one nation to another.

Dimensions of Global Poverty

  • Consequences:

    • Life expectancy is significantly lower in poorer nations.

    • High child mortality rates and lack of sanitation.

    • Malnutrition accounts for 45% of child deaths under 5.

    • Illiteracy perpetuates poverty and limits labor market opportunities.