SOC 1100 Lecture Notes - Lecture 6: Conspicuous Consumption, Cultural Capital, Making Money
17 Dec 2017
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Document Summary
Poor canadian families struggle from day to day simply to make ends meet: typically born into it and have little choice. People talk of inequality as if it were determined solely by money. Socio-economic status is a composite measure of social position that considers also power, occupational, prestige, and schooling. Occupational wages or salaries, earnings from investments, and government transfer payments. In 2004, the average family income was ,000. Top 20% gets 43. 6% bottom 20% gets 5. 2: our income is not distributed evenly, this is better however than the usa. The total amount of money and other assets, minus outstanding debts. Stocks, bonds, real estate, and other privately owned property. The control of these kinds of assets sets the wealthy apart from the rest. Wealth is an important source of power. Occupation is a major determinant of income, wealth, and power. Education often determines labour force participation, occupation, and income, so it is highly valued in industrial societies.
