Arestis, Charles, and Fontana, "Power, Intergroup Conflicts and Social Stratification in the United States: What Has the Global Crisis Taught us?"
Drawing on early sociological analyses of how power and intergroup conflicts can affect the development of modern economies, this paper investigates how the recent Global Crisis (GC) has affected the stratification of the US society. The paper argues that the consumerist society has reinforced the historical stratification of social identities with white men in high-paid, high-social status managerial and financial occupations at the top, and black women in low-paid, low-status service occupations at the bottom. This paper calls for a deconstruction of the neoliberal individual into a unique combination of identities in a stratified capitalist society in order to reveal how social stratification has evolved during the GC. The paper finally concludes on the importance of heterogeneous identities in reflecting the diversity of societal and economic interests in order to address the issues of financial stability and sustainability at the corporate and societal levels.
Philip Arestis, Aurelie Charles, and Giuseppe Fontana, "Power, Intergroup Conflicts and Social Stratification in the United States: What Has the Global Crisis Taught Us?", Review of Social Economy, 73/4 (2015), pp. 370-387.
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(This article is part of the special issue of Review of Social Economy on "Ethics, Global Finance, and the Great Recession," on which more here.)