Sociology Chapter 7

Marx's theory had important insights into capitalist societies; for example, he recognized __________.

the economic basis of class systems

_____ is the value of all of a person's or family's economic assets, including income, personal property, and income-producing property.

wealth

Corporations have been disinvesting in the United States, displacing millions of people from their jobs. Economists refer to this displacement as the __________ of America.

Deindustrialization

Vestiges of caste systems exist today in __________.

India and South Africa

Whereas Marx defined class in purely economic terms, sociologist __________ developed a multidimensional approach to social stratification that reflects the interplay among wealth, prestige, and power.

Max Weber

Which of the following is a criticism of the Marxian and Weberian models of the US class system?

Neither fully reflects the nature and extent of the inequality in the US.

Which of the following is a difference between Marx's and Weber's views of social stratification and class?

Unlike Weber, Marx saw the structures of capitalism and the social system being overthrown.

Anne belongs to one of the wealthiest and most prestigious families in the United States. Her ancestors had started a small business that became a huge success; the business was passed from generation to generation and has now become a multibillion-dollar company. Anne's friend Rumi is a hardworking businesswoman who came from a poor family but has amassed great wealth because of her strong business acumen. Despite being the president of a major corporation and a billionaire herself, Rumi has not attained as much prestige as Anne. In the context of the Weberian model of the U.S. class structure, Anne belongs to the __________, whereas Rumi belongs to the __________.

Upper-upper class; lower-upper class

The term __________ includes property such as buildings, land, farms, houses, factories, and cars, as well as other assets such as bank accounts, corporate stocks, bonds, and insurance policies.

Wealth

From a __________, social inequality is not only inevitable but also an essential part of any healthy society because social stratification results in meritocracy, which refers to a hierarchy in which all positions are rewarded based on people's ability and credentials.

functionalist perspective