1. Social Class

3. Social position
Family
Gender
Race

4. Birth vs achievement Upper upper class Lower upper class
Result of birth
E.g Kennedy
Lower upper class
Result of achievement
E.g Rock star

5. Intragenerational mobility
Changes in social position during a person’s lifetime
Largest gains in average income
Among highest paid 20%

6. Income vs Wealth Income = Paycheck or investments
Median family income - $56,000
Wealth (Net worth) = Assets - Debts
Basis of social stratification
Wealthiest 1% of US families (super rich) = 40% of all private wealth
Lowest ranking 40% of US families have no wealth at all

7. Conspicuous consumption
Buying things to make a statement about your social position
Timex vs Rolex
Why you bought it is important

8. Social class and attitudes
High social position
More liberal on social issues
More conservative on economic issues
Low social position
Liberal on economic issues
Conservative on social issues

9. People in a lower class position:
Less safe
More stressful
Health is worse
Live fewer years overall

10. Poverty Relative poverty Absolute poverty Working poor
Relative to others around you
Found everywhere
Absolute poverty
Egypt
China
Greece
Working poor

11. Feminization of poverty
Women make up an increasing share of the poor
Divorce
Single parent

12. The American Dream Upward social mobility and home ownership
Earnings have stalled
Multiple job holding is up
More jobs with low income ($15000)
Young people staying at home
53% of people are living with parents

13. Rich become richer, the the middle class people are sliding down.