Sociology 1027A/B Lecture 4: lecture 4

• School: Western University
• Department: Sociology
• Course: Sociology 1027A/B
• Professor: Wolfgang Lehmann

Document Summary

Soc 1027 social class, status and inequality. In 2015, just 62 individuals had the same wealth as 3. 6 billion people. Since 2010 steady increase of rich wealth and decline of poor wealth . Why is this a problem: it violates our sense of social justice, massive inequality hampers economic growth and development. Worse today than in the past gotten worst in the past few decades and is true for a lot of countries including u. s, uk, france, The gap between the have"s and have not"s has grown. Large gap in the different income groups in canada. Shifting tax burdens: declining corporate taxes (28% in 2000, 15% today, declining taxes for high income earners. Government has less money to distribute to low income groups. Result: declining income for governments: less social spending, less income redistribution, budget deficits and austerity measures. Social outcomes: increasing levels of inequality.