Classism

Question 1

what is economic capital

Answer 1

what you earn or own

Question 2

what is social capital

Answer 2

who you know

Question 3

what is cultural capital

Answer 3

what you know

Question 4

individual examples of classism

Answer 4

not being friends with someone because they are of a certain class (usually lower)

Question 5

institutional examples of classism

Answer 5

Banks will more than likely not lend money to individuals who do not have any collateral in place. The system of borrowing created by banks were not created for those in need, but was created to sustain those who have money and power, which would be considered upper or ruling class (the wealthy) and possibly the middle class.

Question 6

ideological examples of classism

Answer 6

seen in advertising - example: “choosy moms choose Jif”, implying that if you buy less expensive, store brand peanut butter then you care less about your kids

Question 7

internalized examples of classism

Answer 7

the belief that poor people must not work as hard, so classist institutions are fair

Question 8

Be able to explain how a belief in the United States as a meritocracy is related to classism.

Answer 8

A meritocracy is a society in which you gain wealth and power based solely on ability and talent. Many people believe the United States is a meritocracy, and it leads to the belief that classism doesn’t actually exist - poor people are poor simply because they don’t work hard enough and rich people are rich because they do. It assumes the playing field is equal and that opportunity is universal, when it is not, and believing that classism doesn’t actually exists only serves to perpetuate it b/c how can you solve a problem if you won’t even acknowledge that it exists?

Question 9

what is wealth

Answer 9

a pool; everything you have (house, car, family money, etc)

you can dip into this pool if extra money is needed

Question 10

what is income

Answer 10

a stream; money coming in; called a stream bc it usually comes in and then flows right out to pay for immediate necessities

Question 11

what percentage of white people have negative net wealth

Answer 11

18.6%

Question 12

what percentage of black people have negative net wealth

Answer 12

33.9%

Question 13

what percentage of latino/hispanic people have negative net wealth

Answer 13

35.8%

Question 14

what is the biggest determinant of one’s class status as an adult

Answer 14

your father’s occupation and income

Question 15

how much more in annual salary and benefits does the CEO of a large company make than the average worker in their company

Answer 15

354 times

Question 16

if minimum wage had gone up as fast as CEO pay did since 1990 what would it be

Answer 16

$15.90 an hour

Question 17

what is federal minimum wage now

Answer 17

$7.25

Question 18

what is the ratio of Americans who live in food insecure homes

Answer 18

1:6

Question 19

what percentage os US workers belong to a union

Answer 19

11%

Question 20

the wealthiest 1% of americans own the same amount of wealth as

Answer 20

the bottom 90%

Question 21

what percentage of wealth in the US is inherited

Answer 21

50-70%

Question 22

what is the median net worth for white families

Answer 22

$110,729

Question 23

what is the median net worth for black families

Answer 23

$4,995

Question 24

what is the median net worth for Asian American families

Answer 24

$69,590

Question 25

what is the median net worth for Latino families

Answer 25

$7,424

Question 26

describe the work life and means of generating income of people in the working class

Answer 26

physical work/labor

little or no control in the workplace

Question 27

describe the work life and means of generating income of people in the middle class

Answer 27

salaried professionals and managers

more control over hours/methods of work than working class; also may have some control over other’s work

Question 28

describe the work life and means of generating income of people in the owning class

Answer 28

Investments and enough income from assets that they don’t have to work to pay basic bills

Question 29

how does wealth impact health

Answer 29

• less money = higher stress levels
• less access to affordable healthy foods
• less access to space to exercise
• less time off
• education, income, and location are directly proportional to life expectancy