Sociology 1020 Lecture 9: W9L Capitalism and Poverty
4 Oct 2018
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Document Summary
Two broad ways of thinking about inequality and class. Give everyone a grant in order for them to live above poverty line. Bottom rungs on the ladder get pushed up. The macro-structure no longer has empty places called poverty. The relationship of power employed and employer is less asymmetrical. Economic system- amass capital (wealth used to create further wealth) The people who work have the ability to decide for themselves who they are going to work for. Capitalism is based upon the idea of formally free labour. World view: maximize our benefit and limit our costs, deferred gratification and hard work in the pursuit , and meritocracy (beliefs that the benefit you receive are because of your hard work) Class in an indicator on which we see as someones achievements. Requires low wages, low wages maximize profits, pay roll is the number one expense.
