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An 1880 painting by Jean-Eugène Buland showing a stark contrast in socioeconomic status. Socioeconomic status (SES) is an economic and sociological combined total measure of a person's work experience and of an individual's or family's access to economic resources and social position in relation to others.
Strictly quantitative economic variables are more useful to describing social stratification than explaining how social stratification is constituted or maintained. Income is the most common variable used to describe stratification and associated economic inequality in a society. [9]
In an economic model, an exogenous variable is one whose measure is determined outside the model and is imposed on the model, and an exogenous change is a change in an exogenous variable. [1]: p. 8 [2]: p. 202 [3]: p. 8 In contrast, an endogenous variable is a variable whose measure is determined by the model. An endogenous change is a change ...
According to Weber, the ability to possess power derives from the individual's ability to control various "social resources". "The mode of distribution gives to the propertied a monopoly on the possibility of transferring property from the sphere of use as 'wealth' to the sphere of 'capital,' that is, it gives them the entrepreneurial function and all chances to share directly or indirectly in ...
The Lorenz curve is invariant under positive scaling. If X is a random variable, for any positive number c the random variable c X has the same Lorenz curve as X. The Lorenz curve is flipped twice, once about F = 0.5 and once about L = 0.5, by negation. If X is a random variable with Lorenz curve L X (F), then −X has the Lorenz curve:
The Gini coefficient is widely used in fields as diverse as sociology, economics, health science, ecology, engineering, and agriculture. [57] For example, in social sciences and economics, in addition to income Gini coefficients, scholars have published education Gini coefficients and opportunity Gini coefficients.
Membership of a social class can for example be dependent on education, wealth, occupation, income, and belonging to a particular subculture or social network. [2] Class is a subject of analysis for sociologists, political scientists, anthropologists and social historians. The term has a wide range of sometimes conflicting meanings, and there ...
The same variables that contribute as intervening variables to the valuation of income or wealth and that also affect social status, social class, and social inequality do affect social mobility. These include sex or gender , race or ethnicity , and age .