SY101 Lecture Notes - Lecture 11: American Sociological Review, Kingsley Davis, Gary Becker
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Lecture 10 - social stratification: income distribution in canada, human capital theory, functionalist theory of stratification, ref. Figure 6. 2 the distribution of after-tax income among families and unattached. Argued that some people are poor because they lack talent; people are rich because they are talented > rewarded by positive economic. Famous economist chicago school of economics. Human capital: the abilities, skills, knowledge, and experience that an individual or a group of individuals possesses. Human capital must be nurtured through training and education. The greater the investment in human capital, the better the rewards (higher productivity for the society or higher personal income for an individual) On a personal level: the more talented the labour force will be and therefore the greater the economic contribution > higher income. Societal level: the more government spends on education > skilled workforce > higher gdp. Wage gap: how much a woman is paid for working in a similar job to a man.
