SOCI 1101 Lecture Notes - Lecture 7: Great Divergence, Child Poverty, Financial Services
3 Oct 2016
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Document Summary
After our quick tour of all human societies, we will now focus on industrial societies. 5 dimensions of social space will organize our inquiry. Equality/inequality of wealth is a very important dimension of social life. Wealth (ownership) do not have to declare to the government every year. So most studies look at income rather than wealth. 0: everyone has equal wealth, 1: single person holds all the wealth. The larger the coefficient, the larger the inequality. Income inequality in the us inequality of income has declined since the agrarian and early industrial area. 1940-1979 us nation income grew greatly, inequality hardly changed (all classes rose at the same rate) Since 1979 (roughly) we have had a great divergence in income inequality (noah) It is hard to move the number so a big jump from 1970 2011 (more inequality) Changes in the coefficient tells us how much but not how income equality has increased.
