SOC 1101 Lecture Notes - Lecture 12: Proletariat, Bourgeoisie, Social Class

• School: University of Ottawa
• Department: Sociology
• Course: SOC 1101
• Professor: Willow Scobie

Document Summary

Social class reflects position to the means of production. A large group of people who occupy a similar economic position in wide society. Between 1976 and 2009: earning gap between lowest 20% and highest 20% grew from. 177,500: in the same period, everyone except the riches 10% has seen their work in time increase. Between 1997 and 2007, top ceos in canada saw their salaries increase by 444% By the end of 2009, 3. 8% of canadian households controlled . 78 trillion. Private ownership of the means of production. Free competition: for markets to sell goods, acquire cheap materials, use cheap labour. Capitalism spread with the growth of the industrial revolution. Most widespread economic system in the world. Contemporary capitalist system are influenced by larger corporations. 200 largest manufacturing firms control over half of all manufacturing assets. 200 largest financial firms (banks, insurance, companies, etc) control more than half of all financial transactions.