Social stratification and social inequality
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But their authors share the opinion that such parameters as income, power, education and prestige must be enlisted as the basic ones. Income as an economic status is an amount of money a person or family makes for a definite period of time (month or year). Income is spent to satisfy needs but if it is high, it is accumulated and turns to wealth.
Wealth is accumulated income in the form of cash or materialized money. The later can be movable property (car, yacht, securities) and real estate (house, masterpieces of art). Wealth can be inherited.
It differs from income in the way that wealth can be inherited by those who work and who don't, and income is earned only by those who work. Pensioners and unemployed have income but rags - don't. The rich either can or cannot work as they are owners of wealth.
Accumulated property is the parameter used to differentiate the high class from middle and low classes who live on income. Wealth and income are distributed unequally and means economic inequality. Sociologists interpret economic inequality to show unequal chances of different groups of the population.
Those who have more money have better food, live in more comfortable houses, prefer going by private car to public transport, can afford an expensive holiday etc. Besides having economic advantages, the rich possess a number of hidden privileges: they live longer than the poor even if the latter use the same medical achievements, children from poor families are less educated even if they go to the same public schools as children from wealthy families etc. Power is a possibility to impose one's will or decision on others regardless of their desire.
It is measured by a number of people who have to follow one's will or decision.Скачать