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AFRS 104W
John Iceland, Poverty in America & Inside Job
70
Women's & Gender Studies
Undergraduate 4
10/25/2011

Additional Women's & Gender Studies Flashcards

 


 

Cards

Term
What other economic barriers might minority groups face besides racism and discrimination according to Iceland?
Definition
Past poverty, economic dislocation, wealth differentials and family instability 
Term
In colonial America, who considered "deserving" or "underserving" among the poor?
Definition

Deserving

  1. elderly
  2. children
  3. widows
  4. disabled
Undeserving
  1. paupers
  2. able-bodied men
  3. unwed mothers
Term
What were some historical views that society held toward the poor?
Definition

They were considered:

tramps

floating proletariat

 

Term
In nineteenth century America, how were "poorhouses" used?
Definition

Deter all but most desperate from applying for help.

Form of punishment

Moral training

Education

Reform

Indoor relief

Term
What did the word "pauper" mean and how did it stigmatize the poor?
Definition

Referred to the undeserving; generally refers to someone receiving relief or assistance.

 

stimmatized with other labels such as "dependent, defective and deliquent"

Term
In the early 20th century what constraints and challenges did African Americans face in the labor market?
Definition

Black sharecroppers struggled to earn a living

Barred by law or custom from almost all full time jobs

Jim Crow laws

Domestic and personal servants

Opportunities for promotion and advancement were uncommon for blacks in these and other occupations

Term
What effects did rapid industrilization and urbanization have on U.S society in the late 19th century and early 20th century?
Definition

The nations urbans population rose from 6.2 to 54.0 million

an increase from 20% to over 50%

Immigrants from Europe poured into Mid Western cities

Migration of blacks with search of opportunites

large factories found a large pool of cheap & willing labor

Term
What casued a decline in poverty among the elderly during the 20th century?
Definition
Decline from 1959 to 2003 due to the Social Security and other programs
Term
Name and describe 3 factors that contributed to increases in concentrated poverty in the 20th century.
Definition

Infrastructure

Federal assistance

Federal housing policies

Term
How have rates of educational achievement changed in the United States and how does this impact economic growth?
Definition

Changed in size of labor supply, human and capital investment, and technological improvements.

3.9 million - 76.2 million - 281.4 million

Education increased

Term
How did technological changes play a role in increasing inequality?
Definition
Computerization increased the demand
Term
Alan Greenspan
Definition
Economist who served as head of the Federal Reserve from 1987-2006. Deeply opposed regulation
Term
Eliot Spitzer
Definition
Former attorney general of New York who prosecuted multiple companies for corruption and fraud cases during hi time in office 1999-2006
Term
Brooksley Born
Definition
This person headed the CFTC during the Clinton administration and tried to regulate derivative products in the late 1990s
Term
Henry Paulson
Definition
Former CEO of Goldman Sachs and Treasurey Secretary of the U.S during the collapse of 2008
Term
Frederic Mishkin
Definition
Professor of business at Columbia Business School who has held multiple positions consulting with financial institutions, also serveed as a board member for the Federal Reserve until resignation in 2008
Term
CDOs (collateralized debt obligations)
Definition
A financial product (security) created by a package of underlying assets. Believed to have greatly increased risk in financial markets.
Term
MBS (mortgage-backed securities)
Definition
Large pools of mortgages repackaged to be sold as a new financial product. Frequently rated AAA, even when including subprime mortgages.
Term
Securitization
Definition
Increasing complexity and increasing sales of financial products which led to the housing bubble and the crash of 2008
Term
SEC, Securities and Exchange 
Definition
The federal agency tasked with regulating financial markets, established during the Great Depression
Term
Credit default swaps
Definition
Private contracts used as insurance or bets against other finacial products. Not regulated because they're private contracts.
Term
Leverage
Definition
The use of credit by companies to increase their assets, usually used for operations or speculation
Term
Gramm-Leach-Biley Act (1999)
Definition
Repealed Glass-Steagall Act which prevented investment banks from merging with savings banks in order to reduce risk in financial markets
Term
Commodity Futures Modernization Act (2000)
Definition
Banned regulation of derivatives which led to a multi-trillion growth in the market trading these financial products
Term
Countrywide Financial
Definition
A large mortgage company which made about $96 billion in subprime loans, avoided bankruptcy when it was bought by Bank of America in January 2008
Term
AIG (American International Group)
Definition
Company that went bankrupt because of its overextension in the sale of credit default swaps
Term
Goldman Sachs
Definition
A global investment and banking firm which has been critisized for its handling of cash bonuses after the collapse and the profit it made from credit default swaps (paid for with taxpayer money)
Term
Quasi-relative measurement (NAS)
Definition
An updated poverty measure based on changes in spending for food, clothing, housing and utilities, adjusted for geographical region
Term
Plutocracy/Oligarchy
Definition
Government by the wealthy/ Government by the few
Term
Absolute measure of poverty
Definition
Poverty measure which is currently the U.S official measure, based on basic needs standard
Term
Social Exclusion
Definition
Alienation from mainstream scoiety; a marginalization which can cause linked problems such as unemployment, poor housing, and low income
Term
Economic resources theory
Definition
Lack of financial resources as related to housing and educational opportunities which can cause the continuation of poverty
Term
Non-economic resources theory
Definition
Physiological stress, lack of supervision, lack of role modeling that can cause the continuation of intergenerational poverty
Term
Globalization
Definition
The free market system as a model for rich and poor economies alike which has encouraged both material progress and growing inequality around the world
Term
Welfare-trap model
Definition
Poor ethic/self-defeating attitutdes connect to government aid which cause the continuation of poverty
Term
Spatial mismatch hypothesis
Definition
Outmigration of jobs from inner city to suburbs (or overseas)
Term
Skills mismatch hypothesis
Definition
Shifts in job market which causes a disconnect between skills in the work-force and skills needed in the job market
Term
Structural/Environmental model
Definition
Laor market conditions/migration patterns, racial discrimination, race & class segregation which cause the continuation of poverty
Term
Concentrated poverty
Definition
high poverty neighborhoods, typiccally defined as over 40% of population in poverty
Term
Economic growth
Definition
increases in overall levels of national income
Term
Social stratification
Definition

the monopolization of goods and/or control of social instituions by particular status groups which reproduces inequality in a society

Term
Deindustrialization
Definition
Major shift in the US economy from manufacturing to a service economy
Term
Name and decsribe 2 different effects that globalization has had on US workers
Definition

Inequality because of competition of jobs

Poverty because of low paying jobs

Term
How do poverty rates in America compare across time?
Definition
They declined drastically
Term
How did WWII affect the American economy?
Definition
Brought back full employment and rising incomes
Term
What did the GI bill offer?
Definition

Disability services

Employment benefits

Educational loans

Family allowances

Subsidized loans for homes, businesses and farms

Term
How did the stock market crash in 1929 affect the economic and politcal landscape?
Definition

unemployment climbed from 3.2% to 24.9%

unregulated market

Policies were made to help restore the nation:

Works Progress Admin

Wagner Act

Federal Emergency Relief Act

Term
What iimpact did the Great Depression have on poverty, government policy & the public's attitude about poverty?
Definition

Local efforts were insufficient to combat poverty in economic crisis.

resulted from broader structural forces

Term
What are the two types of government porgrams that aattempt to alleviate poverty?
Definition

Social assurance 

generally dont impose eligibility criterai based on one's income

public assistance 

specifically target the low income population

Term
Name and describe two common myths about poverty accroding to Iceland
Definition

Myth: Majority of the poor are African American residents of inner cities

Truth: they make up only about one quarter of the poverty population

Myth: poor do no work

Truth: nearly half of the poor of working age work at least part-time

Term
Name 3 reason for studying poverty according to Iceland
Definition

1. hardship that often accompanies poverty plainly had adverse affects on individuals' physical and psychological well-being

2. poverty has broader economic consequences

3. high levels of poverty have serious social and political consequences

Term
What arguement did John Galbraith make in his study The Affluent Society?
Definition
While rising standards of living reduced hardships, the materialism of American consumer culture contributed to inequality and that some pockets of poverty were resistant to the effects of economic growth.
Term
Describe the difference between absolute and relative measure of poverty
Definition

Absolute

Easy to understand

standard needs

living standars

Relative

measures income

Term
What are the advantages and disadvantages of using absolute and relative measures?
Definition

Absolute advantages:

appealing

easy

Disadvantage:

as standars of living change, so does the perception of poverty

Relative advantages:

 fits historical record and changing views of poverty

real needs rise in richer countries

Disadvantage

poverty is objective

behave in deceptive ways

Term
Why is the absolute measure used by the US government outdated?
Definition

suffered from technical problems

money income is flawed

thresholds arent very refined

Term
Define the term "social exclusion" and explain its significance to studying poverty
Definition

A short-hand term for what can happen when people or areas suffer from a combination of linked problems such as unemployment, poor skills, low income, poor housing, high crime environment, bad health and family breakdown

 

relates to poverty in the sense of exclusion from community, agencies (schools or work), and opportunites

Term
Describe one strength of the quasi-relative poverty measure as recommend by National Academy Sciences
Definition

Poverty line increases with inflation-adjusted spending on goods

measures food, shelter, clothing and utilities

Term
How does the rising standard of living affect poverty levels?
Definition

As overall standars of living rise so do the thresholds deemed necessary to sustain a minimum level of living.

Term
Identify the four categories of material hardships
Definition
food insecurity, insufficient health care, housing problems and inadequate child care
Term
Name and describe 2 of the common theories that examine the correlation of poverty across generations
Definition

Noneconomic: deals with economic success

Material hardship associated with poverty also increases psychological stress

Welfare trap: intergenerational poverty is fuled not by a lack of resources but by the government welfare system

Term
What factors contribute to concentrated poverty and what are the effects of concentrated poverty?
Definition

government policies

racial and ethnic discrimination

residential segregation

movement of prosperous residents to the suburbs

Term
What arguement about inner cities did William Julius Wilson make in The Truly Disadvantaged?
Definition
Because of economic restructuring and the accompanying flight of blue collr jobs from the city, many middle class black with sufficient money to leave their old inner city neighborhoods did just that
Term
How has globalization affected progress and inequality around the world?
Definition

Generated an enormous amount of material progress around the world

contributed to growing inequality across countries and to social and economic exclusion and marginalization

Term
How do poverty rates and government benefits in the US compare to other highly developed countries such as in Western Europe?
Definition
  • US is higher in rates because of many jobs paying low wages and because benefits are more limited
  • the lower government benefits in the US are beneficial effect of universal transfers
Term
Compare and contrast poverty in the US in less developed countries
Definition

Poverty in developing countries, because its so widespread and severe, differs qualitatively from that in the US and other developed countries. 

despite the US having the highest GNP, it has higher levels of both absolute and relative poverty than other rich.

it also has higher levels  of relative poverty than just about all European countries

Term
Explain economic growth
Definition

determines absolute increases and declines in average standards of living.

refers to increases in overall levels of national income

function of changes in size of labor supply, human and capital investment, and technological improvements

Term
Whats the relationship between social stratification and discrimination?
Definition
Social stratification and discrimination are similar in the fact that it has supression of minorities and the abilities and disabilities as a group of people 
Term
Why are single parent households more likely to be poor?
Definition

Single mothers face the chanllenge of supporting a family on one income

finding and paying for child care

education causes lower earnings

Term
How have changes in family structures affected poverty rates?
Definition
Rates have increased and single parent homes are more prevalent
Term
In the US what are the limits of policy?
Definition

accepted amount of income inequality

favors at least some of the income support structures

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