By Earl Wysong Indiana University Kokomo, Visit Amazon's Robert Perrucci Page, search results, Learn about Author Central, Robert Perrucci, , David Wright
The New category Society introduces scholars to the sociology of sophistication constitution and inequalities because it asks even if the yank dream has light. The fourth variation of this robust ebook demonstrates how and why category inequalities within the usa were widened, hardened, and develop into extra entrenched than ever.
The fourth variation has been broadly revised and reorganized all through, together with a brand new creation that gives an outline of key topics and shorter chapters that disguise a much broader variety of themes. New fabric for the fourth variation features a dialogue of “The nice Recession” and its ongoing impression, the death of the center category, emerging charges of school and extending pupil debt, the function of digital media in shaping people's perceptions of sophistication, and more.
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Extra resources for The New Class Society: Goodbye American Dream?
Sample text
A very rosy scenario says that if you bought a house for $50,000 and sold it twenty-five years later for $150,000, that would be the main source of your retirement income. When the housing market bubble exploded in 2008, many Americans who expected that the values of their homes would continue to rise found themselves with homes that were worth less than their mortgages. What about retirement accounts? As we point out in chapter 5, in 2009 fewer than half of all private-sector workers were covered by any type of employer-provided pension plan.
But ownership may also consist of possessing a large number of shares of stock in one or several corporations in which many other persons may also own stock. However, the ownership of stock is socially and economically meaningful only when (1) the value of shares owned is sufficient to constitute “making a living” or (2) the percentage of shares of stock owned relative to all shares is large enough to permit the owner of said shares to have some say in how the company is run. Members of this superclass segment, along with those in the credentialed class, control most of the wealth in America.
This segment also includes low-income workers with transient work patterns. 28 The excluded segment also includes very-low-income retirees who attempt to supplement their retirement incomes with low-skill, low-wage, part-time, temporary work such as part-time service work. indb 36 5/29/13 1:03 PM The New American Class Structure 37 ments of that structure. It is important to keep in mind that a person’s location in the double-diamond class structure is related to his or her occupation but not determined by it (as is the case in the production and functionalist models of class structure, discussed in chapter 1).