Chapter 8 Flashcards
(29 cards)
Social Stratifaction
Refers to the way in which society is organized into layers (i.e., strata) based on wealth, power, and status.
the income of canadians hace tripped since the 1950s. why?
1.Higher productivity: with technology and better
education, our economy has gone post‐industrial: we make more money than we did before.
2. Double incomes: now families have double earners
compared to the ‘50s, because women have entered the work force
define income quantile share
It measures how total income is distributed among five equal-sized population groups.
What would perfect income equality look like?
Each 20% of the population would receive 20% of the total income.
How is income actually distributed in Canada?
Higher-income groups earn a larger share, while lower-income groups earn less.
How has income distribution changed over time?
It has shifted due to economic policies, wage growth, and social programs.
what is the difference between inequality and poverty?
inequality reders to income distribution, while poverty measures the inability to meet basic needs.
how has income distribution in canada changed since the 1970s?
the richest 20% of the population saw their share increase while the poorest 20% saw theirs decresase
what is the Gini coefficient?
a measure of income inequality, higher values indicate greater inequality.
how does canada compare globally in income inequality?
canada is in the middle, with more equality than the US but less than Scandinavian countries.
what is wealth?
wealth is assets (what you own) minus liabilities (what you owe)
how is wealth different from income?
income is money earned regularly, while wealth is accumulated assets.
why is wealth inequality greater than income inequality?
wealth grows exponentially through investments, while income grows more slowly.
what are the 5 factors influencing economic status?
- natural talent
- effort
- education
- social capital (connections)
- cultural capital (knowledge)
what is social mobility
the ability to move up or down in the social hierarchy
What is the difference between intragenerational and intergenerational mobility?
Intragenerational mobility occurs within one’s lifetime; intergenerational mobility occurs between generations.
What is the difference between an open and closed society?
Open societies allow mobility based on ability; closed societies have rigid class structures.
What are the two types of equality?
Equality of opportunity (chances to participate) and equality of condition (chances to succeed).
What is the Market Basket Measure (MBM)?
Canada’s official poverty measure, based on the cost of a basket of essential goods and services.
What are common myths about poverty?
1) Poor people don’t want to work, 2) Most poor people are immigrants, 3) Poverty is a lifelong trap.
What are the structural causes of poverty?
Economic organization (lack of jobs), social policy (minimum wages, tax systems), and ideology (discrimination).
How does inequality affect talent and success?
Large inequality wastes potential by limiting opportunities for lower-income individuals.
How do Canadians feel about income inequality?
Many dislike it but oppose government action to reduce it, such as raising taxes.
what is the downside to inequality?
it isn’t just due to individual gifts and efforts; a person’s success depends on their family’s social class (not to mention things like race/ethnicity, gender, religion, etc.)