SOCI 1001 Lecture 4: Social Class
Document Summary
Income- occupational wages & salaries & earnings from investment. Wealth- the total value of money, stocks, and other assets, minus debts. The total amount of money one as accrued throughout their lifetime. Even if you don"t have any income, you can still have wealth. Power- formal political power, but also economic power that shapes life chances of many. Occupational prestige- social evaluations of the importance of work. Education- the level and quality of formal schooling, vocational training, on- the-job training. The affluent have much greater access to college education than the poor. Occupational prestige scale- a ranking from 0-100 based on the prestige of an occupation. Based primarily on the typical income and education of occupational incumbents. As you go down the scale, you find more blue collar jobs that are less likely to require a college education. Class- a structure of social inequality based on social relations that bind together the advantaged and disadvantaged.
