SY101 Chapter 6: SY101 – CHAPTER 6
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Wealth: what you own (assets - liabilities, wealth can provide a sense of security and political influence, the rich are getting richer while the poor are getting poorer. Improves health more funds for leisure, de-stressing, and medical services. Income gaps have been widening for about three decades income if canada depended on only the market to distribute income, inequality would be much greater. Explanations of income inequality: the type of job a person holds determines their income - amount of time spent working, some people earn high salaries due to talent (e. g. Professional athletes: sociologists believe genes play a minor role in determining income, effort contributes, but does not necessarily result in a higher income, human capital: investment in education and training. Tax policy is another prevalent factor: ways of thinking and ideological perspectives are explanations of poverty, discrimination can cause poverty because it leads to less success in finding jobs, and unsteady low-paying work.
