Chapter 1 Questions 1-4 Essay

679 Words Aug 29th, 2013 3 Pages
What is the relationship among money, labor cost, profitability, and knowledge in the modern democratic-capitalistic society?
The relationship is that there has to be a cost (monetarily) between all the aspects. The labor cost is all tied to money and how to sustain while democratic capitalistic society a market-based economy all related to the circulation of money. Money is arbitrary, labors costs cut into profitability, and knowledge can temporarily increase profitability.
Briefly describe the three major class of society and their sever subsets.
The three major classes of society are upper, middle, and lower-class. They can further be separated into ultra-rich, wealthy, upper-middle, middle-middle, and lower-middle, and working poor
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Those members of society who do not have an adequate or acceptable level of education are going to find themselves in an unenviable position regarding current and future income opportunities. The pay and compensation for those will acceptable levels of knowledge and skills will rise, whereas those with minimal levels of required knowledge and skills will see their income opportunities stagnate, or even decline. To be successful in a knowledge-based capitalistic world, a passion for learning must exist that includes a recognition of the need for education. Most people in this income group do not have full-time jobs. A large number of the individuals are illiterate and are high school drop outs. Many of the females are or were teenage mothers, with their only income derived from some welfare program such as Aid to Families with Dependent Children. Many of these individuals hold part and full time jobs that pay a wage equal or close to the government established minimum wage. Many of these individuals supplement their income with food stamps. They frequently live in in government-subsidized, low-income housing and relay on government-assisted medical services.

Will two wage earner family become more or less important in the future?
By the 1950s, large numbers of females in the middle-class households were

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