Sociological Class Theories

Paper Summary:

The paper explains that, in the conflict (Marxian) theory, capitalist societies are divided into two opposing classes, wage workers and capitalists, and that conflict between these two classes will eventually lead to revolutions that will establish classless socialist societies. The author points out that the interactionist perspective stresses the prestige factor to understand the behaviors of status groups, which form within a given class, such as two persons in an upper class neighborhood, one of whom owns an Olympic-size swimming pool while his neighbor only owns an above-ground pool. The paper concludes that the long-term realities of Bush's policies can only truly benefit the upper class.

From the Paper:

"Another key feature of Bush's economic agenda has been reforming Social Security with private investment accounts. While Bush's scheme suggests that he was supposed to solve the financial downfall of the last two years, he diverted attention away from the crisis and moved it squarely on Saddam Hussein. Who knows what kind of economic
disaster we have waiting for us in the immediate future? "Furthermore, while young people seem more attracted to Bush's policies than skeptical elders, it is actually the younger generation of new workers who are destined to lose most, because of the cost of diverting Social Security revenues into the new individual stock accounts while still
paying benefits to retirees." However, the volatility of the market at any given time makes it appear that the only ones who could possibly benefit from this type of plan would have to be the rich. The simple fact is that they have enough money in capital reserves to take risks with a program that they certainly won't need anyway. If this pattern continues, a transfer from general revenues will be needed to help
with the transition's negative cash flow."

More papers on Sociological Class Theories:

• Term Paper # 115579 : "The Sociological Imagination"
• Term Paper # 141964 : "Upper Class America"
• Essay # 72878 : "Social Class"

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