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Weberian life chances can be seen as an expansion on some of Karl Marx's ideas. Both Weber and Marx agreed that economic factors were important in determining one's future, but Weber's concepts of life chances are more complex; inspired by, but different from Marx's views on social stratification and social class.
"Class, at its core, is an economic concept; it is the position of individuals in the market that determines their class position. And it is how one is situated in the marketplace that directly affects one's life chances". [7] This was theorized by Weber on the basis of "unequal access to material resources".
With the cultural divide, chances for classes to intermingle become less and less likely, and mythos becomes more and more common between them (i.e. "the wrong side of the railroad tracks"). The lower class loses more of its influence and wealth as the upper class gains more influence and wealth, further dividing the classes from one another.
Instead, he develops a three-component theory of stratification and the concept of life chances. Weber held there are more class divisions than Marx suggested, taking different concepts from both functionalist and Marxist theories to create his own system. He emphasizes the difference between class, status, and party, and treats these as ...
However, he also saw that honour, status and social prestige were key factors in determining what social class people belong to. According to Weber, "life-styles", such as where a person lives and the schools they attend, are very important in determining social class. "Life-chances" also determined social class.
In other words, social class and a family's socioeconomic status directly affect a child's chances for obtaining a quality education and succeeding in life. By age five, there are significant developmental differences between low, middle, and upper class children's cognitive and noncognitive skills. [10]
The cost of life insurance policies with a pre-existing medical condition will vary based on your health condition, the type of insurance policy, and the amount of coverage you are applying for.
Thus a person's class situation is basically his market situation. Those who share a similar class situation also share similar life chances. Their economic position will directly affect their chances of obtaining the things defined as desirable in their society. [2] Social conflict theory is also used to understand gender inequalities.