IDS 159 Lecture Notes - Lecture 7: Savings Account
24 Sep 2018
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Ids 159 - income distribution in america - lecture 7. Money earned from investments, land, or other holdings (not by doing labor). Savings accounts, insurance, corporate stock ownership, properties. 9% holds almost of all net worth. 55% of all americans have no financial assets, and 54% of financial assets are held by top 2%. Income is fair measure of occupational success. Just over half of today"s workforce is comprised of white-collar workers. Within working classes, type of job one holds is primary factor determining income received. It gives differing amounts of prestige and compensation in society. Occupational prestige is determined by requirements of job and characteristics. Best predictor for occupational prestige is the amount of education one requires. Education is viewed as way to enhance one"s economic status. The higher the ses of a family, the greater chances for the kid to finish college. Education is main way families pass on classposition to their children.
