SOCIOL 1 Lecture Notes - Lecture 8: Cultural Capital, Social Capital, High Standard Manufacturing Company
Document Summary
Tax rates 91% in the 40"s -> best economic growth. Middle class is the backbone of economy. Govt. invests in education -> grow economy. State is defunding higher education (60"s you paid 0), fewer skilled workers -> less tax revenue -> budget cuts -> education decreased, wages have been stagnant for 30 years. 70"s earned wars (min wage w inflation should be ) Student debt just surpassed credit debt 3 years ago. Fast food industry is booming, middle restaurants are hurting. Give up eating out, movies, dental, healthcare. Bottom 80% of earners have suffered from globalization. College degree = 1million dollars more in lifetime. Avg. and mediocre people don"t make it in this economy. Amazon created 70k jobs, destroyed 700k, creating workerless store. The compassion gap by fred block et al. Every 30/40 yrs people are shocked by living conditions of poverty -> 1890 how the.
