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Socioeconomic status has long been related to health, those higher in the social hierarchy typically enjoy better health than those below. [23] Socioeconomic status is an important source of health inequity, as there is a very robust positive correlation between socioeconomic status and health. This correlation suggests that it is not only the ...
Economic determinism is a socioeconomic theory that economic relationships (such as being an owner or capitalist or being a worker or proletarian) are the foundation upon which all other societal and political arrangements in society are based.
Illustration from a 1916 advertisement for a vocational school in the back of a US magazine. Education has been seen as a key to socioeconomic mobility, and the advertisement appealed to Americans' belief in the possibility of self-betterment as well as threatening the consequences of downward mobility in the great income inequality existing during the Industrial Revolution.
The gender gap in mathematics is particularly large among the highest-achieving students; for example, there is a 2.1 to 1 male-female ratio among students who score an 800 on the math portion of the SAT. [21] At least one study has challenged the existence of the gender gap in mathematics.
The concept of inequality is distinct from that of poverty [5] and fairness. Income inequality metrics (or income distribution metrics) are used by social scientists to measure the distribution of income, and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general.
A nation's wealth is a strong indicator of the health of its population. Within nations, however, individual socio-economic position is a powerful predictor of health. [76] Material conditions of life determine health by influencing the quality of individual development, family life and interaction, and community environments.
The economic and political impacts of inequality may include slower GDP growth, reduced income mobility, higher poverty rates, greater usage of household debt leading to increased risk of financial crises, and political polarization.
The social market economy (SOME; German: soziale Marktwirtschaft), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, [1] is a socioeconomic model combining a free-market capitalist economic system alongside social policies and enough regulation to establish both fair competition within the market and generally a welfare state.