Date post: | 21-Jan-2016 |
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Detroit, Michigan
Downtown Detroit
Hecker House in Detroit
Heading into Downtown Detroit
Grand Hotel
Homes of Detroit
• Can the people who live and work in the city of Detroit be seen as similar?
Three Components
• Sociologists can’t agree on how to define social classes
• Sociologists do measure the three components of social class
• Wealth• Power • Prestige
Wealth
• What is the difference between wealth and income?
• Wealth is property and income
• Income is money received from a job, business, or assets.
United States Wealth
• $1.4 Quadrillion
• National Debt of 16.5 trillion
• 68% of the total U.S. worth is owned by 10% of U.S. famiies
• 40% of U.S. assets are owned by 1% of Americans
U.S. Wealth
• Average Income per family is $30,000/year
• Families with more than one worker $51,000/year
• The problem is the difference between the rich and poor
• See Page 262
High Paid CEO’s
• According to the Wall Street Journal, of the top 350 US companies
• Median income $3,022,000• 85 times higher than the
average American worker• An average worker would have
to work 3,671 years to match the top CEO’s of the US