THE AMERICAN DREAM (1)

THEAMERICANDREAMTheRoleofSocialClassinthe“PursuitofHappiness”AMERICANDREAM•LandofOpportunity•RagstoRiches—Anyonecanbecomerich,famous,powerful.•Jobsandeducationavailabletoallwhowantthem.•Meritocracy(rewards)=skill+effort.•Throughhardwork,courageanddeterminationonecanachieveprosperity.Americanscanlivebetterthantheirparentsdid.“Weholdthesetruthstobeself-evident,thatallmenarecreatedequal,thattheyareendowedbytheirCreatorwithcertainunalienableRights,thatamongtheseareLife,Liberty,andthePURSUITofHappiness”SocialMobility•Themovementoffamiliesupanddowntheeconomicladder•40%ofincomesstayedataboutthesamelevel;60%movedupordown.•Only37ofAmerica’s400wealthiestinheritedtheirmoneyfromtheirfamily.SocialClassesThehierarchicaldistinctionsbetweenindividualsorgroupsinsocieties.SocialStratificationThestudyofsystematicinequalitybetweengroupsofpeopleWhatarethekeyfeaturesofsocialclass?•WEALTH–Valuedpossessions:cash,land,buildings,property–Income:moneyfromemployment,sharesetc.–Tendstobeintergenerational•POWER–Abilitytocarryoutone’swill,evenifopposedbyothers–Whohaspower???•PRESTIGE–RespectgiventopeoplewithvaluedpositionsorresourcesUpperClassFactsQ.What%ofAmericansbelongtotheupperclass?–0.5%Q.Extentofwealth?–Top1%ownsmorethanonethirdofALLnetworthintheU.S.–50%U.S.stocks,60%bonds;corporations,property,inheritances;incomemostlyfrominvestmentsnotemploymentQ.Sourceofpower?–Ownershipofresources-moneymakesmoney–EconomicpowerandpoliticalpowerintertwinedQ.Sourceofprestige?–familyname&resources(old:Rockefeller,Carnegie,Walton,Getty;new:Gates)CorporateClassFactsQ.What%ofAmericans?–0.5%Q.Extentofwealth?–Alot,butnotasmuchastheupperclass–Usuallynotmajorownersofcompanies–medianCEOsalary$10.8million–PresidentoftheU.S.$400,000(whydoitthen??)Q.Sourceofpower?–Headsofcompanies,governmentQ.Sourceofprestige?–PositionofinfluenceMiddleClassTheCosbyShowAmerica’sfirstblackmiddleclassTVfamilyMiddleClassFactsQ.What%ofAmericans?–43%Q.Extentofwealth?–Some–Ownership—ownhome–Income—midtohighincome–Engineer,$58,000–Teacher,$34,000–ALCProfessor,??Q.Sourceofpower?-LimitedwithincontextofoccupationQ.Sourceofprestige?–Somemorethanothers,WhitecollarjobWorkingClassPhotographfromabookWorkingClassFactsQ.What%ofAmericans?–43%Q.Extentofwealth?–Little–Ownership—littleornoproperty–Income—midtolow–Factoryworker,$24,000–Machineoperator,$23,000Q.Sourceofpower?–Limited,sometimescollectivepowerthroughunionsQ.Sourceofprestige?–Verylittle,BluecollarjobsLowerClassHomelessmaninNewYork-oneofthousandsLowerClassFactsQ.What%ofAmericans?–13%Q.Extentofwealth?–Verylittle,usuallynone–Ownership:none–Income:low–Povertyratein2001:9.9%–Onlyabout1/3ofpoorgetwelfareQ.Sourceofpower?–LimitedtononeQ.Sourceofprestige?–LimitedtononeInequalityBasedonClass•Health—Higherclasslivelonger(79.2yearsvs.74.7years).•Crime—impoverishedareastendtohavehighercrimerates•Education—despitecontinuedincreasesinfinancialaid,theproportionofhigherclassstudentsateliteschoolsisincreasing.•Families—higherclassaremorelikelytohavechildrenwhilewithinmarriageandatolderages.DistributionofWealthRacialgapsinthelabormarketRaceUnemployment,2000HispanicorLatino9.3%White4.3%Black11.8%AmericanIndian12.4%Asian5.1%NativeHawaiianorPacificIslander10.9%Gendergapsinthelabormarket•Moremenworkfulltimethanwomen,butcomparingmenandwomenwhowork:MedianIncomeMale$29,458Female$18,957–Foreverydollarmenmake,womenmake64centsWhydoesthegendergapexist?•Education?–Womenmakeupover50%ofstudentsincollegeMenandWomenwithaBA(1999)Male$47,126Female$34,455•Menworkmorehours?–Womeninfull-timeworkearnlessthanmenwiththesameeducationalqualificationPovertyratesandGender051015202530InfamiliesInmarried-couplefamiliesFemaleheadedfamiliesMaleheadedfamiliesTotalRevisitingtheAmericanDream•LandofOpportunity?–“ragstoriches”or“therichgetrich?”classestendtoreproducethemselves(e.g.occupational&wealthinheritance,legacyadmits)–arealljobsopenandequalforeveryone?clearlynot•Socialclassisachievedorascribed?between40to60%ofparentalincomeadvantagepassedontochildren•Ameritocracy?–barrierstochannelsofupwardmobility(e.g.agoodeducation)American:ATaleofTwoCities