October 7, 2013 (LOOK AT EXTRA CREDIT ONLINE)CHAPTER 8&9 STRATIFICATION AND CLASS AND INEQUALITYEconomic Costs- $100 million- healthcare fraud - Who pays for white collar crimeo Victimso Consumerso Low-income- Delegitimize social and political institutions - Public cynicism and trust- Weaken respect for the law- CorruptionStratification- Statuso The social honor or prestige given to a particular group by other members of society(not necessarily power)- Social Stratificationo How individuals and social groups are divided in society and the inequalities of wealth and power that result- Structured inequalitieso Social inequalities that result from patters in the social structureCharacteristics of stratification systems1. Rankings apply to groups of people who share characteristics but don’t necessarily interact or identify with each other2. A group’s position in the ranking system affects life experiences and opportunities3. The ranking system changes slowly- Slaveryo A form of social stratification in which some people are literally owned by others as their propertyo Total subjection of individuals to the interests of their owners- Caste systemso A social system in which one’s social status is given for lifeo Social life is segregatedo Intimate relationships are restricted to members of one’s own caste- Classo Large group of people who hold similar material prosperity and power- Life chanceso A person’s opportunities for achieving economic prosperity- Characteristics of class systems1. Fluiditya. No clear cut boundaries; no legal or religious rules prohibiting mobility2. Position is partially achieveda. Movement up and down is possible based on individual achievements3. Class is economically baseda. The higher your class, the more one’s material resources4. Large scale and impersonala. Inequalities are expressed through different pay, working conditions, or other aspects of material life Class differences based on- Incomeo Payment, usually derived from wages, salaries, or investmentso Unequal distribution- Wealtho The assets that an individual owns, such as cash, saving, and checking accounts and investments in stocks, bonds, and real estate- Educationo College education predicts occupation, income, and wealth later in lifeo Racial differences persist- Occupationo Affected by educationo Affects income and wealth- The upper class of the United Stateso Broadly composed of the more affluent members of society, especially those who have inherited wealth, own businesses, and hold large numbers of stocks (shares)- The middle class of the USo Composed broadly of those working in white-collar and lower managerial occupationso Occupational prestige, income, and wealth split middle class into upper middle and lower middle
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