SOC 7106 Chapter Notes - Chapter 20: Current Literature, Social Vulnerability

• School: University of Ottawa
• Department: Sociology
• Course: SOC 7106
• Professor: Willow Scobie

Document Summary

Housing and banking crises spread social vulnerability that results from the rise of indebtedness. However, there is only a limited understanding of the implications in terms of attainment processes as current literature on wealth focuses more on assets and net worth rather than the effects of debt. It is now clear that it plays an effect among american families. Others argue that debts effects are class stratified as those in the middle and lower class take debt to supplement their incomes that are falling behind with the upper class who use debt as a growing matter of income. Historical trends of debt do shape individual biographies and have important effects for persons going through key life transition. Studies have focused among the impact for those near retirement and youth moving towards adulthood and significant status attainments such as college and professional employment.