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Flashcards in Inequality Deck (29)
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1

inequality

- Unequal possession of resources
- Unequal access to resources

2

resources

- anything to sustain or improve survival or life chances in society (ie. Education, income, wealth, leisure time)

3

wealth

material assets (land, stocks, businesses)

4

4 ways to get wealth

- Inheritance
- Income (which you get from your occupation, which you get from your education... Education -> occupation -> income -> wealth)
- Gambling/stocks
- Theft

5

net worth

Net worth = assets – liabilities

6

taxes and inequality

Inequality can come from taxes -> if you don't have resources to incorporate yourself, you'll have to pay more taxes

7

is Canada really a meritocracy? Why or why not?

- NO
- Social origin (background) leads to human capital, social capital, and cultural capital
- Social origin can directly transfer wealth too
- Human Capital + Social Capital + Cultural Capital = Resource
-- Ex. Education + Networks + Know-how and tastes = Good job

8

wealth inequality vs. income inequality

- Wealth inequality greater than income inequality
- This is because the government tries to even out income inequality through taxes, but they can't do anything about wealth inequality

9

what 3 things is poverty impacted by?

- Impacted by social disorganization (ie. Access to education, availability of job)
- Impacted by social policies (ie. Minimum wage, tax system)
- Impacted by previous generations (ie. Low SES families)

10

inequality: functionalist perspective

- Unequal reward structure motivates those with skills to fulfill important positions
- Important positions are therefore filled by those with the appropriate skills
- Inequality is necessary and therefore universal
- Ex. Not everyone can be a doctor; only the best should be doctors and society should financially reward them for their high skillset

11

critiques of functionalist perspective of inequality

- payscale doesn't always reflect importance -> ie. NBA players get paid millions, but their career isn't critical to society's survival)
- Social position is mostly inherited or appointed (So best people don't always get the best job)
- Disproportionate rewards, wage discrimination (think about gender and race)

12

inequality: conflict perspective

- Inequality is oppressive and unproductive
- Inequality is not good to human societies and must be minimized
- Inequality is a result of exploitation by those with power

13

Richard Wilkinson's views on absolute/relative wealth

Richard Wilkinson argues that it's better to live without a lot of absolute wealth if others around you are similar, rather than making a ton of money but you're still poor relative to those around you

14

Millennium Development Goals (MGDs)

- goals set by UN in 2000 to eradicate global poverty, improve education, improve healthcare, achieve gender equality, etc.
- 10 years later, progress has been made for certain MDGs (ie. poverty, education, child mortality, access to clean water) while others lag behind
- Disparity: some nations were successful in progressing towards MDGs, others weren't

15

global inequality

involves the concentration of resources in certain nations, significantly affecting the opportunities of individuals in poorer and less powerful countries

16

relative vs. absolute poverty

- relative poverty: being unable to live the lifestyle of the average person in your country
- absolute poverty: being barely able, or unable, to afford basic necessities, such as food

17

global stratification

- unequal distribution of resources among nations
- highlights worldwide patterns of social inequality
- various models of global stratification all have one thing in common: they rank countries according to their relative economic status, or gross national product (GNP)

18

1st world vs. 2nd world vs. 3rd world vs. 4th world

- 1st world: capitalistic countries (ex. USA, Canada)
- 2nd world: developed countries that are socialist or communist (ex. Soviet countries)
- 3rd world: poor, undeveloped countries (ex. certain African and Latin American countries)
- 4th world: stigmatized minority groups who don't have a voice across the globe (ex. homeless people)

19

modernization theory

- societies move through natural stages of development as they progress toward becoming developed societies (i.e., stable, democratic, market oriented, and capitalist)
- low-income countries can improve global economic standing through industrialization and adjustment of cultural values towards work
- critiques: assumes all countries have same resources and want to be as developed as possible

20

core nations vs. peripheral nations vs. semi-peripheral nations

- core nations: dominant capitalist countries, highly industrialized, technological, and urbanized (ex. US)
- peripheral nations: little industrialization; factories owned by core nations (ex. Bangladesh, Malaysia)
- Semi-peripheral nations: in-between; have some power and exploit peripheral nations (ex. Mexico)

21

gross national income

equals all goods and services plus net income earned outside the country by nationals and corporations headquartered in the country doing business out of the country, measured in U.S. dollars

22

2 major issues facing high-income countries

- capital flight: movement of capital from one nation to another (ie. when Canadian factories close and move to Mexico)
- deindustrialization: consequence of capital flight - no new companies open to replace lost jobs

23

debt accumulation

the buildup of external debt, wherein countries borrow money from other nations to fund their expansion or growth goals

24

global feminization of poverty

- around the world, women are bearing a disproportionate percentage of the burden of poverty
- more women live in poor conditions, receive inadequate healthcare, bear the brunt of malnutrition and inadequate drinking water, etc.

25

subjective poverty

- when your actual income does not meet your expectations and perceptions
- up to the individual to define when it's present

26

chattel slavery vs. debt bondage

- Chattel slavery: one person owns another as property (ex. child prostitution)
- Debt bondage: poor people pledging themselves as servants in exchange for the cost of basic necessities like transportation, room, and board

27

dependency theory

- response to modernization theory
- global inequality is primarily caused by core nations (or high-income nations) exploiting semi-peripheral and peripheral nations (or middle-income and low-income nations), creating a cycle of dependence

28

metropolis-hinterland relationship

the relationship between nations when resources of the hinterlands are shipped to the metropolises where they are converted into manufactured goods and shipped back to the hinterlands for consumption

29

underground economy

an unregulated economy of labour and goods that operates outside of governance, regulatory systems, or human protections