What Are the Two Sides of External Formal Institutions, and How

question 74

Essay

What are the two sides of external formal institutions, and how do they affect the rules of the game?

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Definitions:

Classism

Prejudice or discrimination based on social class, often manifesting as an unequal treatment of people from different economic and social backgrounds.

Welfare Rates

The level of financial support provided by the government to individuals under social welfare programs.

Class Position

Denotes an individual's or group's location within a hierarchical social structure, often determined by occupation, wealth, education, and social connections.

Education

The process of facilitating learning, or the acquisition of knowledge, skills, values, and habits through various methods such as teaching, training, research, or self-study.