SOC 104 Chapter Notes - Chapter 10: Structural Inequality, Meritocracy, Neoliberalism
4 May 2016
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The gap between the rich and poor (overview) Neoliberalism takes a stand between the rich and the poor. If the top group"s income has increased over time but the bottom has remained still. See that maybe the lack of interest is not as bad" as another place. Measures of income: lower income cut-offs (licos, lim. 20% more of their income (than the average family) on basic needs. Spending much greater proportion of your income on meeting basic needs. The lower the income, the more % of your income you spend on meeting basic needs and sustain life. Relative poverty measure: pick the middle numerical pay in society. Trying to figure out if the person in the middle is earning average income. Most people relate where they are on society to this number: market basket measure. Income needed to afford basic necessities to sustain yourself. What people need to get by without living in economically strained life.
