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Sociology
Sociological Perspective on Economics & Status
The predominant and most widely practiced economic system in the United States of America is capitalism. Capitalism is heavily predicated on differences in status and class. The differences among individuals within a capitalist system can be more finely specified as imbalances. There are imbalances and there exists inequality among capitalist subjects. These imbalances and inequalities are naturally occurring functions of this economic system. The economic system in the United States can be used such that citizens may move "upward" socially, which typically is directly proportionate to the amount of material wealth. This system is additionally, and arguably primarily, used to trap others (numerous others) within lower status levels, which also correspond to lower economic status, class, etc. Capitalism in the United States is a powerful tool by which people make social movements or become restricted or otherwise limited socially.
The social realm is not exclusively dependent from economics....
The social realm and the economic realm have a complex relationship with consequences that are directly experienced or lived. Most Americans are familiar with the ways economics impacts a person's social life. Typically, the more money a person or family has, the greater ability for social mobility there is. Also, the more wealth a person possesses, the more of a social life this person has. Suddenly this person has access to clubs, bars, and other high level social arenas. This person gains access to other individuals of great wealth, power, and capital, whether material or social capital. In the United States, wealth provides access and wealth provides friendship. The friendships may be superficial or based upon material wealth, but wealthy people can afford to spend their leisure time with other wealthy people, whom in the United States are often very powerful and famous. Once a person gains access to where there are other wealthy people, it is a matter of time before they begin to socialize together. Wealthy people can socialize wherever they please, often…
References:
Andrews, Dan, & Leigh, Andrew. "More Inequality, Less Social Mobility." The Australian National University Centre for Economic Policy Research, Discussion Paper No. 566, 1 -- 15, 2008.
Granovetter, Mark. "The Impact of Social Structure on Economic Outcomes." The Journal of Economic Perspectives, Vol. 19, No. 1, 33 -- 50, 2005.
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