PROPERTY: Sometimes called "Wealth"

SOCIAL CLASS: According to Weber; a large group of people who rank close to one another in wealth, power, and presitige. According to Marx- One of two groups: Capitalist who own the means of production or workers who sell their labor.

WEALTH: Property and income

INCOME: Money received from a job, business, or assests.

*It's important to remember that you have a lot of property and not a lot of income available.

Distribution of wealth chart page 261

POWER: The ability to carry out your will, even over the resistance of others.

POWER ELITE: C. Wright Mills' term for the top people in U.S. corporations, military, and politics, that make the nation's major decisions.

PRESTIGE: Respect or regard

STATUS: Social ranking; the position that someone occupies in society or a social group

STATUS CONSISTENCY: Ranking high or low on all three dimensions of social class

STATUS INCONSISTENCY: ranking high on some dimensions of social class and low on others, also called status discrepancy.

ANOMIE: Durkheim's term for a condition of society in which people become detached from the norms that usually guide their behavior

Erik Wright's term fro a position in the class structure that generates contradictory interests

PAGE 269- See the chart to gain information on each of the following groups.

Capitalist:

Upper Middle Class:

Lower Middle Class:

Working Class:

Working Poor:

Underclass: A group of people for who poverty persists year after year and across the generations

*Your social class (your position in the stratification system) determine how you are socialized/how you are life is effected each of the following social institutions.

Physical Health

Mental Health

Family Life

Education

Religion

Politics

Crime/Criminal Justice System

Technology

INTERGENERATIONAL MOBILITY: The change that family members make in social class from one generation to the next

UPWARD SOCIAL MOBILITY: Movement up the social class ladder

DOWNWARD SOCIAL MOBILITY: Movement down the social class ladder

STRUCTURAL MOBILITY: Movement up or down the social class ladder that is due to changes in the structure of society, not to individual efforts

EXCHANGE MOBILITY: About the same numbers of people moving up and down the social class ladder, such that, on balance, the social class system shows little change.

POVERTY LINE: The official measure of poverty, calculated to include those incomes that are less than three times a lower cost food budget.

MYTHS OF POVERTY: Page 279

THE FEMINIZATION OF POVERTY: A trend in U.S. poverty whereby most poor families are headed by women

CULTURE OF POVERTY: The assumption that the values and behaviors of the poor make them fundamentally different from other people, that these factors are largely responsible for their poverty, and that parent perpetuate poverty across generations by passing these characteristics to their children.

DEFERRED GRATIFICATION: Forgoing something in the present in the hope of achieving greater grains in the future.

HORATIO ALGER MYTH: The belief that due to limitless possibilities anyone can get ahead if he or she tries hard enough