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class structure as a continuum popular way to measure class socioeconomic status: indiciators- occupation, education, income continuum: there is no sharp distinction between different classes class=objective and subjective judgements
Dennis Gilbert wrote a book on American class structure (2003) book differentiated classes on the basis of occupation, income, and education
Class structure as antagonistic categories marxist definition of class- the level of control of means of production; class differences are qualitative in nature (boundaries between classes are discrete and clear). classes are defined by the exploitation that occurs between them.
top 1% share of income (1913-2007) 23.9% in 1928, 8.9% in 1997, 23.5% in 2007
distribution of wealth in US, 2007 in 2007, top 1% held 34% of wealth and bottom 50% of population has 2.5% of all wealth
Gini coefficient measure of the inequality of wealth distribution/ Value of 0 indicates complete equality and 1 complete inequality. in 1980, gini ration was .403, in 2007 risen to .463
US Gini coefficient compared to other countries #42
Created by: hfeld92