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Power, Intergroup Conflicts and Social Stratification in the United States: What has the Global Crisis Taught us?

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  • Philip Arestis
  • Aurelie Charles
  • Giuseppe Fontana

Abstract

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.

Suggested Citation

  • Philip Arestis & Aurelie Charles & Giuseppe Fontana, 2015. "Power, Intergroup Conflicts and Social Stratification in the United States: What has the Global Crisis Taught us?," Review of Social Economy, Taylor & Francis Journals, vol. 73(4), pages 370-387, December.
    • Handle: RePEc:taf:rsocec:v:73:y:2015:i:4:p:370-387
    DOI: 10.1080/00346764.2015.1089109
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    References listed on IDEAS

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    1. Jean-Paul Fitoussi & Francesco Saraceno, 2010. "Inequality and macroeconomic performance," Working Papers hal-01069429, HAL.
    2. repec:hal:spmain:info:hdl:2441/46mbanhapncmp6s9g2choh4pj is not listed on IDEAS
    3. Scott E. Page, 2007. "Prologue to The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies," Introductory Chapters, in: The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies, Princeton University Press.
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    Cited by:

    1. Aurelie Charles & Dongxu Wu & Zhongmin Wu, 2019. "Economic Shocks on Subjective Well-Being: Re-assessing the Determinants of Life-Satisfaction After the 2008 Financial Crisis," Journal of Happiness Studies, Springer, vol. 20(4), pages 1041-1055, April.

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