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Social deprivation is the reduction or prevention of culturally normal interaction between an individual and the rest of society. This social deprivation is included in a broad network of correlated factors that contribute to social exclusion; these factors include mental illness, poverty, poor education, and low socioeconomic status, norms and values.
Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a ...
[5] Relative mobility is a zero-sum game, absolute is not. Exchange mobility is the mobility that results from a "reshuffling" of incomes among the economic agents, with no change in the income amounts. For example, in the case of two agents, a change in income distribution might be {1,2}->{2,1}. This is a case of pure exchange mobility, since ...
[2] [5] However, SES is more commonly used to depict an economic difference in society as a whole. [6] Socioeconomic status is typically broken into three levels (high, middle, and low) to describe the three places a family or an individual may fall into. When placing a family or individual into one of these categories, any or all of the three ...
In a 1938 article, Abram Bergson introduced the term social welfare function, with the intention "to state in precise form the value judgments required for the derivation of the conditions of maximum economic welfare." The function was real-valued and differentiable. It was specified to describe the society as a whole.
"If we have a function which, although in and for itself unproductive, is nevertheless a necessary moment of [economic] reproduction, then when this is transformed, through a division of labour, from the secondary activity of many into the exclusive activity of a few, into their special business, this does not change the character of the ...
Moral economy is a way of viewing economic activity in terms of its moral, rather than material, aspects. The concept was developed in 1971 by British Marxist social historian and political activist E. P. Thompson in his essay, "The Moral Economy of the English Crowd in the Eighteenth Century".
an economic crisis which can range from or include a possible financial crisis, currency crisis, or any economic shock, or any breakdown or major dysfunctions within the economic system, or a major upheaval due to a natural disaster, which can include severe weather, or epidemics, or drought, or famine, or other events related to the natural world.