Social Class, Inequality, & Poverty Flashcards
a system that puts categories of people into a hierarchy
stratification
a group of individuals who share a similar economic position based on income, wealth, education, and occupation
social class
the total amount of money someone earns each year
income
the total amount of money that a person has or could have if they sold off all their assets
wealth
made up of the capitalist class and the upper-middle class
privileged class
(commonly known as the top 1%) makes money from the things they own: businesses, real estate, stocks, and bonds
capitalist class
making up about 14% of the population, these well-educated individuals rely on their high incomes from jobs to catapult them into this category
upper-middle class
although relatively small in size, this group includes individuals whose annual incomes are well into the six-figure range
working rich
here we have about 60% of the population, evenly split between the middle class and the working class
majority classes
likely to have a high school diploma and some college experience (an increasing number even have a bachelor’s degree). they work as teachers, nurses, master craftspeople (plumbers, electricians, carpenters), and lower-level managers
middle class
these individuals have probably completed high school or a trade school; they typically work as office support (secretaries and administrative assistants), retail sales workers, factory workers, or low-paid craftspeople
working class
making up about one-quarter of the US population, this group includes the working poor (15%) and the underclass (10%). both have some education, but most do not have more than a high school diploma
lower class
typically employed in insecure and low-wage jobs such as janitorial and cleaning services, manual labor, landscaping, restaurant support (fast food, wait staff, line cooks), and other service industries
working poor
moving from an ascribed social class position to a new achieved social class position
social mobility
occurs when someone moves from a lower social class position to a higher one
upward mobility