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Intro to Sociology Ch 7 Notes
Introduction to Sociology (SOC 110)
Des Moines Area Community College
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Chapter 7: Confronting Economic
Equality
7 What Is Economic Inequality?
Income is money received in exchange for services or investments, such as a paycheck, stock return, or Social Security benefits. Wealth, on the other hand, is the worth of your assets, like savings accounts, houses, cars, and investment portfolios, minus debts.
7 Key Terms
economic inequality: Unequal distribution of economic resources income: Earnings from employment, government programs, investments, or inheritances wealth: Assets one owns minus debts
7 Meritocracy and the Functions of Inequality
Structural functionalism posits that merit works to distribute goods and services so that social stratification mirrors the contributions individuals make to society. In contrast, conflict theory contends that the powerful manage the economy to benefit themselves, exploiting workers so that they can maximize profits.
7 Key Terms
meritocracy: A society in which those with the most talent rise to the top and are appropriately rewarded for their contributions socioeconomic status: Status determined by class, status or prestige, and power
7 Understanding Social Stratification
Social stratification refers to the ways in which valuable goods and desired intangibles like social status and prestige are distributed to different groups in society.
7 Key Terms
social stratification: The way valuable goods and desired intangibles are distributed in society structured inequalities: Advantages and disadvantages built into social institutions estates: In an estate system, there is very limited social mobility, but those with the lowest standings have more freedom than slaves. In this system, laws distribute power and rights on the basis of social standing caste: Rigid systems that confine individuals to social groups for their lifetimes, assigning them specific roles in a society with tight rules over the relationships among castes class-based: In these systems, members of a given social class share common economic statuses and lifestyles and have social mobility
7 Examining the Class System
Social class refers to distinctions among groups of people based on income, occupation, and education. In the United States, we have five social classes: the upper, upper middle, middle, lower/working, and lowest.
7 Key Terms
social class: Distinctions among groups of people in terms of income, education, and occupation or access to means of success social class reproduction: How members of the upper class ensure that their children maintain their status
Intro to Sociology Ch 7 Notes
Course: Introduction to Sociology (SOC 110)
University: Des Moines Area Community College
