Detroit, Michigan. Downtown Detroit Hecker House in Detroit

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Transcript of Detroit, Michigan. Downtown Detroit Hecker House in Detroit

  • 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 ComponentsSociologists cant agree on how to define social classesSociologists do measure the three components of social classWealthPower Prestige

  • WealthWhat 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. WealthAverage Income per family is $30,000/yearFamilies with more than one worker $51,000/yearThe problem is the difference between the rich and poorSee Page 262

  • High Paid CEOsAccording to the Wall Street Journal, of the top 350 US companiesMedian income $3,022,00085 times higher than the average American workerAn average worker would have to work 3,671 years to match the top CEOs of the US