he terms used are loaded ones. This is a classic set of stratification; one of gradations of prestige. It fits nicely with a functionalist perspective. Wealth, power, prestige are components of gradational class model. A relational example of stratification follows from how people relate to the modes of production. There is a difference between a model of class and how the class structure actually works. Whose model is empirically correct? Having other kind of data will help us understand the class structure in the U.S. Measures of wealth, power, prestige enable us to map the social structures independent of people's perspectives. Wealth as a measure in class analysis has two forms:property: what are you worth? The U.S. is worth approx. $15 trillion. income Ownership of property is a key measure of inequality and stratification in the U.S. 1993 data, 10% of U.S. families owns: 68% of property 50% of real estate 90% of stocks and business assets 95% of bonds 0.5% of Americans own 27% of the nation's wealth. 325, 000 families own 40% of all corporate stocks and business assets. This matters because it determines the organization of work and who benefits from it. Inequality of ownership indicates: class structure inequality of outcomes Income as a measure in class analysis:The annual average income of families is $35,000. Economist Samuelson explains that if were to pile children's blocks, each worth $500, the highest block would be higher than Mt. Everest. The typical American would be close to the ground. Another gradation picture, 1993 data: Social classEducationOccupationIncome% of PopulationCapitalistsprestige investors $750K 1%Universities heirs executivesUpper MiddleCollege/Uprofessionals$75K14%upper level managersLower middle@ least H.Ssemi-professionals$40K30%some collegelower level managersapprentishipcrafts people shopfloor foremenWorking classHigh Schoolfactory workers$25K30%clerical workerslower paid crafts p...
