SOCI 1010 1nd EditionExam #2 Study Guide Lectures: 9 - 15Lecture 9 (September 24)Terms: - Social class- social ranking of groups, based largely on economics in which both ascription and achievement play a role - Ascribed- wealth that you’re born into (uncontrolled)- Achieved- wealth that is earned or worked for (controlled)Questions/Ideas to ponder:How are income and wealth distributed in the U.S. today and over time? - Over time income and wealth have become increasingly unequal in the U.S. - In 1970, the richest 20% of families was making 40.9% of the overall income in the U.S. whereas the poorest 20% of families was making just 5.4% of the overall income in the U.S.- In 1990, the richest 20% of families was making 44.3% of the overall income in the U.S. whereas the poorest 20% of families was making 4.6% of the overall income in the U.S.- In 2012, the richest 20% of families was making 48.9% of the overall income in the U.S. whereas the poorest 20% of families was making 3.8% of the overall income in the U.S.- Similarly, in 1983 the wealthiest 20% of families held about 78.7% of the overall wealth, whereas the poorest 20% of families held -.04%- In 2011, the wealthiest 20% of families held about 88.9% of the overall wealth, whereas the poorest 20% of families held -1.4%You need to be familiar with our discussion of race and housing, draw from the film The House We Live In and the reading Race, Homeownership, & Wealth. What are the links between housing policy, both past and present, and the acquisition of wealth among White and Black Americans? What role did the U.S. government & banks play? The housing policy effected the acquisition of wealth in the past as well as in the present. Past: After 1930s, the Federal Housing Administration created affordable ways for people to have housing. They made it so that you would put down 10-20% and the bank financed 80% of it over 10 year at relatively low rates. A suburbia called Levittown was created out of apotato farm. Whereas apartments were very expensive monthly-$100/month- mortgage payments in Levittown were about $65/month. Levittown quickly filled with all-white residents. FHA underwriters warned that the presence of even just 1 or 2 non-white families in an all-white neighborhood could undermine real estate values in the new suburbs; these government guidelines were widely adopted. The government evaluated different parts of city and rated them. An all white neighborhood would be labeled green, minority neighborhoods were red-lined. Banks would give most loans were to white neighborhoods. Because they were red-lined, non-whites were unable to get a loan form the bank. Most blacks and other minorities had to depend on public housing. After 1968: After 1968, red-lining was no longer legal. Non-whites began to move into mostly white-neighborhoods. Within two years, it was predominantly black. Blockbusting – real estate agents would scare white people out of the homes by saying that they would lose value on their home because of the black neighbors, the real estate agents would then sell the homes to non-whites for an inflated price.Majority of Americans hold most of their wealth in home equityObviously, in the 1930s, blacks and other minorities were denied loans and therefore were unable to own a home. Because they could not have this home equity, it was harder for them to acquire wealth. This was passed on from generation to generation and still effects and acquisition of wealth between whites and blacks today. Even when making the same income, whites have 2x the wealth of a black family. This is the legacy of racial inequality inthe housing policy. Lecture 10 (September 26) Questions/Ideas to ponder:What five factors help make up a person’s social class?1. Income- money that comes in or is earned within a year (salary, wages, child support, disability, etc.)2. Wealth- more uneven than income, accumulates over generations3. Occupational Prestige- people more willing to share what they do – based on their status – actual scales on prestige of job – an occupation may be high in prestige but low in income4. Education- degrees earned, not years of education5. Power- ability to be able to influence someone’s behavior or get someone to do something they wouldn’t normally doWhat does the class structure look like according our PowerPoint slides?We think that class structure looks like a diamond, with the upper tip being upper class, the majority being middle class and the bottom being lower/working-class. However, the six-partmodel suggests there is a much larger portion of people in the working class and working poor than we originally think.What “myths” does the media covey about social class in America (the wealthy, the middle class, and the poor), according to the article Media Magic? - Being in poverty or working poor is ones own fault- When poverty is talked about, the focus is on the problems it will/may create for the middle class- The poor are painted in a negative light vs. the wealthy being viewed as a “mistake”- Poverty is temporary- The majority of the population is middle-classWhat do these myths teach us about society? - We as a society are desensitized to poverty because we only get numbers and statistics, not the actual story of what its like to be in poverty or the working-class. - We think we live in an egalitarian society and are hidden from the realities of the inequalitiesWhy do the media convey these distorted/incorrect messages?The media is a corporate enterprise. It disguises inequality on purpose to keep the status quo. The media reflects its interest in the different social classes. Lecture 11 (September 29)Terms:- Redlining- government outlines sections of cities or towns and highlight where would bea good place to give a loan and where wouldn’t. Typically minorities were redlined and white neighborhoods were “green-lined.” Unattached homes were also preferred to attached homes- Blockbusting- if an African American family moved into an all white neighborhood, realtors would convince the white families that they needed to ‘get out now’ people the new neighbors would change the neighborhood. They would convince the homeowners tosell at a lower price, then the realtor turns around and sells the home to another African American or minority family for more moneyQuestions/Ideas to ponder:What did Ehrenreich want to learn about low wage