Chapter 8: Social Differentiation and Social Stratification
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            Status
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        A socially defined position in a group or society
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            Social Differentiation
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        The process by which different statuses develop in any group, organization, or society
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            Social Stratification
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        A system of structured social inequality
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            Estate System
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        The ownership of property and the exercise of power are monopolized by an elite class who have total control over societal resources
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            Caste System
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        One's place in the stratification system is an ascribed status, meaning it is a quality given to an individual by circumstances of birth
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            Class System
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        Stratification exists, but a person's placement in the class system can change according to personal achievements; that is, class depends to some degree on achieved status, which is one earned through the acquisition of resources and power regardless of one's origins
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            Life Chances
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        The opportunities that people have in common by virtue of belonging to a particular class
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            Conspicuous Consumption
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        The ostentatious display of goods to define one's social status
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            Economic Restructuring
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        The decline of manufacturing jobs in the United States, the transformation of the economy by technological change, and the process of globalization
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            Income
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        The amount of money brought into a household from various sources (wages, investment income, dividends, etc.) during a given period of time
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            Wealth
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        The monetary value of everything one actually owns
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            Net Worth
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        The dollar amount of the sum of all financial assets and subtracting all debts
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            Sedimentation of racial inequality
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        The differing assets Whites and Blacks in general hold now
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            Status Attainment
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        The process by which people end up in a given position in the stratification system
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            Socioeconomic Status (SES)
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        Derived from certain factors, most significantly: income, occupational prestige, and education
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            Median Income
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        The midpoint of all household incomes for a society
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            Prestige
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        The value others assign to people and groups
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            Occupational Prestige
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        The subjective evaluation people give to jobs
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            Educational Attainment
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        Final major indicator of socioeconomic status, typically measured as the total years of formal education
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            Upper Class
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        Owns the major share of corporate and personal wealth
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            Nouveau Riche
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        Those in the upper class with newly acquired wealth
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            Upper-Middle Class
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        Those with high incomes and high social prestige
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            Middle Class
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        Difficult to define, half of Americans identify themselves as middle class, and vary widely in lifestyles and resources at their disposal
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            Lower-Middle Class (working class)
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        Workers in the skilled trades and low-income bureaucratic workers, many of whom would identify as middle class
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            Lower Class
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        Primarily the displaced and poor, with little formal education who are either unemployed or work minimum wage jobs
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            Working poor
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        Those who work at least 27 hours a week but whose wages fall below the poverty line
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            Professional-Managerial Class
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        The middle class, includes managers, supervisors, and professionals
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            Meritocracy
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        A system in which one's status is based on merit or accomplishments, not other social characteristics
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            Social Mobility
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        A person's movement over time from one class to another
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            Closed Class System
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        A system in which movement from one class to another is virtually impossible
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            Open Class System
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        Placement is based on individual achievement
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            Downward Social Mobility
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        Most people stay in the same social class as their parents, but when they do move, some people actually drop to a lower level
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            Class Consciousness
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        The perception that a class structure exists along with a feeling of shared identification with other in one's class, those with whom you share life chances
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            False Consciousness
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        (Marx) Used to describe the class consciousness of subordinate classes who have internalized the view of the dominant class
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            Capitalist Class (Marx)
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        Those who own the means of production
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            Working Class (Marx)
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        (Proletariat) Those who sell their labor for wages
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            Petty Bourgeoisie
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        Small business owners and managers
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            Lumpenproletariat
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        Those who have become unnecessary as workers and are discarded
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            Ideology
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        Belief systems that support the status quo
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            The Poverty Line
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        The amount of money needed to support the basic needs of a household, as determined by the government; below this line is considered officially poor
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            Feminization of Poverty
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        A large portion of the poor are women and children
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            Concentrated Poverty
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        Means that there are areas of counties, cities, or states where larger percentages of people are poor
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            Temporary Assistance for Needy Families
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        Stipulates a lifetime limit of five years for people to receive aid and requires all welfare recipients to find work within two years
