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Week 8 - SOC 112

by: Kara Brzostowski

Week 8 - SOC 112 SOC 112

Kara Brzostowski
GPA 4.0
American Family
Jennifer Woodruff

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About this Document

Week 8 of lecture.
American Family
Jennifer Woodruff
Class Notes
25 ?




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This 3 page Class Notes was uploaded by Kara Brzostowski on Tuesday November 10, 2015. The Class Notes belongs to SOC 112 at Illinois State University taught by Jennifer Woodruff in Summer 2015. Since its upload, it has received 26 views. For similar materials see American Family in Sociology at Illinois State University.


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Date Created: 11/10/15
Medicare health insurance given to individuals over 65 by government Medicaid health insurance given to individuals with low income by government By 2023 one in five people will be the elderly Debt The average American family is 225238 in debt due to mortgage auto loans student loans and credit cards 59 of Americans have less then 500 in savings Average Debt Average Mortgage Debt 155192 Student Loans 32986 Average Auto Loan 32264 Use of Credit Americans have unrealistic view of what we have Often think we are doing better than we are because of credit Credit Card Debt Average Credit Card Debt 15611 Total 8565 billion Average person has 7 types of cards debitcredit Lotteries and Gambling Targeted demographic is lowincome What set the Great Depression in motion America s weak banking system Individuals always wanting the next big thing Stock Market Crash October 29 1929 Lead to economic panic Billionaires went from everything to nothing WhL Supply and demand Companies anticipated demand created shares and produced more product People weren t buying Panic selling of stocks by investors devalued the stock and grounded the market What caused the Great Depression Delays False sense of prosperity quotThe Golden Age of Agriculture Uneven wealth distribution wealthiest 1 accounted for 40 of nation s wealth 0 New technologies equaled increased spending 0 False sense of prosperity from war sales Global crisis following WWI Poor stock management The stock market crash in 1929 Bank failures 0 Peopled feared the crash would close their banks withdrew money 0 This caused banks to fail o By 1933 11000 of the 25000 banks in the US had failed I Largest percentage of banks closed in the US history Lack of available credit Lack of consumer spending High unemployment rates 25 unemployment rate by 1933 Dust bowl 19301936 drought Hundreds of thousands of farmers were unemployed because their farmlands were useless Led to cut of agricultural production and food rationing during WWII O O O 0 Couples delayed getting married Divorce rate dropped couples remained married because they couldn t afford legal fees Majority of couples broke up due to abandonment Gender Roles Changed Unemployed men had to rely on wife and children to help make ends meet Many men deserted their families because they couldn t support them by 1940 15 million women had been deserted Others gave up looking for jobs loss of identity as breadwinner Breakthrough for Women Effects Married women worked outside the home despite society s opposition Women attained more power and say within the the family on Minorities Majority of government aid and programs targeted unemployed white males Immigrants especially Mexicans were illegally deported to make more jobs for white men Homelessness People lost homes from lack of money Families would live together in caves sewers and shacks to survive Some larger cities provided places for the homeless to sleep 250000 children homeless Quality of Life Families neglected medical and dental care Families were starving often forgoing milk and meat Children left school to work 225 million boys and girls 1018 worked for substandard wages


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