SOC100H1 Chapter Notes - Chapter 5: Gini Coefficient, Social Stratification, Economic Inequality
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SOC100H1 Full Course Notes
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Social stratification way in which society is organized in layers or strata. Income quintile share measures the share of total income earned by each income-ranked fifth of the population. 1) rank families from lowest to highest income. 2) compute total income generated by all families. 3) divide rank-ordered families into 5 equal-sized categories (quintile) 4) compute total income for each quintile. 5) divide total income for each quintile by total family income. Gini coefficient reports proportion of total income that would have to be redistributed for perfect equality to exist. Human capital sum of useful skills & knowledge that an individual possesses. Social capital networks or connections that individuals possess. Cultural capital stock of knowledge, tastes, habits that legitimate maintenance of status & power. Absolute definition of poverty bare essentials. Poor families have resources inadequate for acquiring basic necessities of life (food, shelter, clothing) Bare necessities based on values & judgements.
