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 and poverty level. Upper-class earnings equal $250, 000 – $1, 000, 000 a year. For the subcategory “ wealthy”, income will range from $250, 000 these people can develop lifetime savings and investments. For the ultra-rich, their income is over $1 million a year and they live a care free life. Middle-class earnings equal $35, 000 to $250, 000.
Lower middle class persons earn from $35-60, 000 a year; they are living paycheck to paycheck. Middle class persons earn from $60-100, 000 a year; they have more discretionary income. The upper-middle class earns between $100-250, 000 a year; are able to afford significant investments, vacations, and an enjoyable lifestyle. Lower-class earnings = under $35, 000. The working poor have incomes ranging from $19-35, 000. These persons are typically on food stamps, and require government assistance for housing and medical care. The poverty class earns less than $19, 000.
Most do not have full times Jobs, insurance, or reliable housing. What is the greatest force for the continuation of poverty in the current democratic- fatalistic society? A major problem facing the United States and its leadership role in a capitalistic democratic world is an increasing and unacceptable difference between the income of the lower-paid and the higher-paid members of the workforce. The growing disparity of income between the lower-income and higher- income members of society relates directly to increasing influences of high levels of knowledge and skills in pay determines.
Those members of society who do not have an adequate or acceptable level of education are going to find themselves in an enviable 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 sass, large numbers of females in the middle-class households were searching for and accepting permanent employment. The Job related earnings provided the income necessary to move from the working-poor class to lower-middle class, and from lower-middle to middle-middle and upper-middle class became a primary motivator of increasing importance for the two-wage-earner family. The median family earnings of a two-wage-earner family in 1998 were $61 , 675. These efforts for an improved lifestyle make these wage earners more critically analyzing their Job opportunities and the pay and compensation they receive from the work they do.