Rewealthization in twenty-first century Western countries: the defining trend of the socioeconomic squeeze of the middle class

Abstract The wealth-to-income ratio (WIR) in many Western countries, particularly in Europe and North America, increased by a factor of two in the last three decades. This represents a defining empirical trend: a rewealthization (from the French repatrimonialisation)—or the comeback of (inherited) w...

Full description

Bibliographic Details
Main Authors:	Louis Chauvel, Eyal Bar Haim, Anne Hartung, Emily Murphy
Format:	Article
Language:	English
Published:	SpringerOpen 2021-01-01
Series:	The Journal of Chinese Sociology
Subjects:	Inequality Middle-class society Repatrimonialization Wealth-to-income ratio
Online Access:	https://doi.org/10.1186/s40711-020-00135-6

id	doaj-b6c790ddf39847b5b8e29fb447ee0e8e
record_format	Article
spelling	doaj-b6c790ddf39847b5b8e29fb447ee0e8e2021-01-17T12:09:39ZengSpringerOpenThe Journal of Chinese Sociology2198-26352021-01-018111710.1186/s40711-020-00135-6Rewealthization in twenty-first century Western countries: the defining trend of the socioeconomic squeeze of the middle classLouis Chauvel0Eyal Bar Haim1Anne Hartung2Emily Murphy3Department of Sociology, University of LuxembourgBen-Gurion UniversityInstitute for Research on Socio-Economic Inequality IRSEI, University of LuxembourgInstitute for Research on Socio-Economic Inequality IRSEI, University of LuxembourgAbstract The wealth-to-income ratio (WIR) in many Western countries, particularly in Europe and North America, increased by a factor of two in the last three decades. This represents a defining empirical trend: a rewealthization (from the French repatrimonialisation)—or the comeback of (inherited) wealth primacy since the mid-1990s. For the sociology of social stratification, “occupational classes” based on jobs worked must now be understood within a context of wealth-based domination. This paper first illustrates important empirical features of an era of rising WIR. We then outline the theory of rewealthization as a major factor of class transformations in relation to regimes stabilized in the post-WWII industrial area. Compared to the period where wealth became secondary to education and earnings for middle-class lifestyles, rewealthization steepens society's vertical structure; the "olive-shaped" Western society is replaced by a new one where wealth "abundance" at the top masks social reproduction and frustrations below.https://doi.org/10.1186/s40711-020-00135-6InequalityMiddle-class societyRepatrimonializationWealth-to-income ratio
collection	DOAJ
language	English
format	Article
sources	DOAJ
author	Louis Chauvel Eyal Bar Haim Anne Hartung Emily Murphy
spellingShingle	Louis Chauvel Eyal Bar Haim Anne Hartung Emily Murphy Rewealthization in twenty-first century Western countries: the defining trend of the socioeconomic squeeze of the middle class The Journal of Chinese Sociology Inequality Middle-class society Repatrimonialization Wealth-to-income ratio
author_facet	Louis Chauvel Eyal Bar Haim Anne Hartung Emily Murphy
author_sort	Louis Chauvel
title	Rewealthization in twenty-first century Western countries: the defining trend of the socioeconomic squeeze of the middle class
title_short	Rewealthization in twenty-first century Western countries: the defining trend of the socioeconomic squeeze of the middle class
title_full	Rewealthization in twenty-first century Western countries: the defining trend of the socioeconomic squeeze of the middle class
title_fullStr	Rewealthization in twenty-first century Western countries: the defining trend of the socioeconomic squeeze of the middle class
title_full_unstemmed	Rewealthization in twenty-first century Western countries: the defining trend of the socioeconomic squeeze of the middle class
title_sort	rewealthization in twenty-first century western countries: the defining trend of the socioeconomic squeeze of the middle class
publisher	SpringerOpen
series	The Journal of Chinese Sociology
issn	2198-2635
publishDate	2021-01-01
description	Abstract The wealth-to-income ratio (WIR) in many Western countries, particularly in Europe and North America, increased by a factor of two in the last three decades. This represents a defining empirical trend: a rewealthization (from the French repatrimonialisation)—or the comeback of (inherited) wealth primacy since the mid-1990s. For the sociology of social stratification, “occupational classes” based on jobs worked must now be understood within a context of wealth-based domination. This paper first illustrates important empirical features of an era of rising WIR. We then outline the theory of rewealthization as a major factor of class transformations in relation to regimes stabilized in the post-WWII industrial area. Compared to the period where wealth became secondary to education and earnings for middle-class lifestyles, rewealthization steepens society's vertical structure; the "olive-shaped" Western society is replaced by a new one where wealth "abundance" at the top masks social reproduction and frustrations below.
topic	Inequality Middle-class society Repatrimonialization Wealth-to-income ratio
url	https://doi.org/10.1186/s40711-020-00135-6
work_keys_str_mv	AT louischauvel rewealthizationintwentyfirstcenturywesterncountriesthedefiningtrendofthesocioeconomicsqueezeofthemiddleclass AT eyalbarhaim rewealthizationintwentyfirstcenturywesterncountriesthedefiningtrendofthesocioeconomicsqueezeofthemiddleclass AT annehartung rewealthizationintwentyfirstcenturywesterncountriesthedefiningtrendofthesocioeconomicsqueezeofthemiddleclass AT emilymurphy rewealthizationintwentyfirstcenturywesterncountriesthedefiningtrendofthesocioeconomicsqueezeofthemiddleclass
_version_	1724335409928863744

Rewealthization in twenty-first century Western countries: the defining trend of the socioeconomic squeeze of the middle class

Similar Items