Hecht, Katharina (2017) A relational analysis of top incomes and wealth: economic evaluation, relative (dis)advantage and the service to capital. Working Paper (11). International Inequalities Institute, London School of Economics and Political Science, London, UK.
Text (LSE III - Working Paper 11)
- Published Version
Download (348kB) |
|
Text (Plain Language Summary)
Download (227kB) |
Abstract
While an impressive body of economic literature documents increases in top incomes and wealth in liberal market economies, few studies focus on the social and cultural processes constitutive of this inequality. Drawing on a mixed-methods study in the UK, this article elaborates how top incomes and wealth are made sense of and produced by economic ‘elites’ through the cultural process of economic evaluation. Economic evaluative practices are based on the idea that ‘the market’ is a neutral and fair instrument for the distribution of resources. Due to economic evaluation and inequality at the top, top income earners experience relative (dis)advantage; while recognizing their advantage compared to the general population they experience disadvantage when ‘looking up’. Top incomes are produced via economic evaluative practices which conceptualize the value of labour based on increases in the value of capital. Hence the legitimating purpose of top incomes and wealth is service to capital.
Item Type: | Monograph (Working Paper) |
---|---|
Official URL: | http://www.lse.ac.uk/International-Inequalities |
Additional Information: | © 2017 The Author |
Divisions: | Centre for Analysis of Social Exclusion International Inequalities Institute |
Subjects: | H Social Sciences > HN Social history and conditions. Social problems. Social reform |
Date Deposited: | 04 Oct 2019 13:21 |
Last Modified: | 14 Sep 2024 04:06 |
URI: | http://eprints.lse.ac.uk/id/eprint/101845 |
Actions (login required)
View Item |