How does wealth differ from income?
What will be an ideal response?
Answers will vary. Income and wealth differ in several important ways. Wealth is cumulative. It increases over time, especially through investment, whereas income is usually spent on everyday expenses. Because wealth is accumulated over time, much of it can be passed on to the next generation. Inheritances and other monetary gifts offer opportunities to start a business, buy a first (or vacation) home, pursue college without debt, and increase assets (like savings and stocks). Passing on wealth to the next generation preserves privilege. Wealthy people tend to have the greatest amount of economic capital (income and other monetary assets such as property), cultural capital (advanced degrees and assets such as style of speech, table manners, and physical appearance), and social capital (networks comprised of influential people). Differential access to all three types of capital reinforces and reproduces the existing class structure and inequality.
You might also like to view...
Which theoretical approach links patterns of health to inequality based on gender?
a. symbolic interaction b. structural functional c. social conflict d. feminist
The primary labor market
a. is mostly made up of the working poor. b. is characterized by better wages and more unionization than the secondary labor market. c. requires less in the way of educational credentials than the secondary labor market. d. has fewer unemployment benefits than the secondary labor market.
Which of the following women probably experiences role conflict?
a. Maria, a college student who doesn't know what she wants to major in b. Josephine, who is not sure if she is ready to be in a committed relationship c. Danielle, who loves her work but hates her boss d. Yvonne, an attorney who has two preschool children
An example of one of the programs under the Older Americans Act is senior centers.
Answer the following statement true (T) or false (F)