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Classification Situations: Life-Chances in the Neoliberal Era
Klassifikations-Lagen: Lebenschancen in der neoliberalen Ära
[Zeitschriftenartikel]
Abstract This article examines the stratifying effects of economic classifications. We argue that in the neoliberal era market institutions increasingly use actuarial tech-niques to split and sort individuals into classification situations that shape life-chances. While this is a general and increasingly per... mehr
This article examines the stratifying effects of economic classifications. We argue that in the neoliberal era market institutions increasingly use actuarial tech-niques to split and sort individuals into classification situations that shape life-chances. While this is a general and increasingly pervasive process, our main empirical illustration comes from the transformation of the credit market in the United States. This market works as both as a leveling force and as a condenser of new forms of social difference. The U.S. banking and credit system has greatly broadened its scope over the past twenty years to incorporate previously excluded groups. We observe this leveling tendency in the expansion of credit amongst lower-income households, the systematization of overdraft protections, and the unexpected and rapid growth of the fringe banking sector. But while access to credit has democratized, it has also differentiated. Scoring technologies classify and price people according to credit risk. This has allowed multiple new distinctions to be made amongst the creditworthy, as scores get attached to different interest rates and loan structures. Scores have also expanded into markets beyond consumer credit, such as insurance, real estate, employment, and elsewhere. The result is a cumulative pattern of advantage and disadvantage with both objectively measured and subjectively experienced aspects. We argue these private classificatory tools are increasingly central to the generation of „market-situations“, and thus an important and overlooked force that structures individual life-chances. In short, classification situations may have become the engine of modern class situations.... weniger
Thesaurusschlagwörter
Eigentum; Verschuldung; Markt; Konsum; Marktordnung; Lebenssituation; Neoliberalismus; Kreditmarkt; Kreditvergabe; soziale Schichtung; USA; Klassifikation; soziale Klasse; Ungleichheit
Klassifikation
Sozialgeschichte, historische Sozialforschung
Allgemeine Soziologie, Makrosoziologie, spezielle Theorien und Schulen, Entwicklung und Geschichte der Soziologie
Wirtschaftssoziologie
Freie Schlagwörter
market classifications; market sociology; market order; categorization; credit scores
Sprache Dokument
Englisch
Publikationsjahr
2017
Seitenangabe
S. 23-51
Zeitschriftentitel
Historical Social Research, 42 (2017) 1
Heftthema
Markets and Classifications: Categorizations and Valuations as Social Processes Structuring Markets
DOI
https://doi.org/10.12759/hsr.42.2017.1.23-51
ISSN
0172-6404
Status
Veröffentlichungsversion; begutachtet (peer reviewed)