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