Economic Inequalities Flashcards
RL 6, PSP 2 (32 cards)
Proletariat
Working Class: social group that exchange labour for wages and are at the mercy of bourgeoisie (capitalists)
Bourgeoisie
Capitalists: social group that possesses capital -> owns the means of production and controls work conditions
Class Consciousness
Sense of shared identity and common interests that stem from awareness of similar economic position, particularly relative to the economic position of others
Class System
Hierarchical classification system that places individuals in relation to one another based on differences in their command of the means of production, work situations, and life chances
Socioeconomic Status
Method of ranking people that combines measures of wealth, authority (or power), and prestige (reputation that commands honour and respect, often irrespective of income, authority, or class position)
Social Stratification
A system of inequality that integrates class, status, and domination with other forms of differentiation, such as gender and ethnicity, to describe societal inequality
Conspicuous Consumption
The purchasing of valuable goods for the purpose of expressing class belonging and status
Cultural capital
A body of knowledge, ideas, tastes, and skills that helps people get ahead socially (often incl. learning about and participating in high culture)
Exchange Mobility
Movement within an occupational hierarchy that can only occur when an existing position becomes vacant
Structural Mobility
Movement within an occupational hierarchy that can occur as a result of structural growth through the creation of new jobs or positions, and that is commonly associated with organizational or economic growth
Secondary/Marginal Labour Market
Sectors in the economy that offer low-paying jobs characterized by fewer opportunities for advancement and insecurity
Primary Labour Market
Industries that provide jobs with high wages, good opportunities for advancement, and job security
Intergenerational Mobility
The movement of people into positions that are higher/lower than their parents’ positions
Intragenerational (Career) Mobility
Social mobility into positions that are higher/lower within a person’s lifespan
Downward Mobility
Vertical social mobility into lower-regarded and paid occupational positions
Underemployment
Employment in a job that requires far less expertise, skill, or ability than the job-holder has to offer
Absolute Poverty
Not having enough income to meet basic survival needs
Relative poverty
Having enough for basic survival needs, but living well below the general standard of living in a community/social group/society
Low Income Cut-off (LICO)
The method used to measure low income in Canada that identifies income thresholds below which a family will likely spend a larger proportion of its income on necessities than the average family
Market Basket Measure (MBM)
The method used to measure low income in Canada that calculates how much income a household requires to meet its needs, including basic needs and the needs to satisfy community norms
Low Income measure (LIM)
The method used to measure low income in Canada that calculates the low income threshold of a household as one-half of the median income of a household of the same size in a community of a similar size
Gini Coefficient
A measure of the inequality in the distribution of income among households within a country (0 = perfect equality; 1 = perfect inequality)
Stigma
Disgrace and marginalization because of life circumstances or characteristics of a person, preventing that person from full social acceptance
Poverty Line
An agreed upon income at which a standard of living considered “acceptable” should be affordable. What is considered acceptable is not static, but varies considerably within/across societies and across time
