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Recognizing heterogeneity of legal/social status, historical experience, and the resulting variation in the constraints faced by different groups can be a valuable complement to forms of heterogeneity already recognized by Austrian economists. This is particularly true for empirical analyses of caste-based societies, women’s history, and the experiences of other currently or historically persecuted minority populations. When (1) political institutions and/or other emergent social structures establish rules that apply to some individuals but not others, (2) these non-general rules are constructed in such a way that individuals cannot easily move in and out of established groups, and (3) some of the groups created by this process hold authority over others, class structures are created that can be understood without violating methodological individualism and other key tenets of Austrian economics. Like other heterogeneities that have now become incorporated into mainstream economic thought, the development of an Austrian theory of class could advance both the Austrian tradition and economic science in general.

The authors’ examination of corporate social responsibility (CSR) scores in dual-class firms provides a window on firms’ CSR performance when insulated from external pressure. Dual-class ownership confers greater voting rights on a superior class of shares held by insiders; consequently, managers of dual-class firms are insulated from external pressure from inferior class shareholders and, potentially, from society. The authors compare CSR scores in dual- and single-class firms and investigate the association between CSR scores and cash flow rights in dual-class firms. This analysis reveals that dual-class firms have lower CSR scores than their single-class counterparts and that CSR scores in dual-class firms are positively related to the relative cost of CSR borne by the superior class of shares. The findings suggest that external accountability encourages CSR performance, and CSR performance is higher when the superior class bears a smaller portion of the cost of CSR activities. It follows that the analysis suggests the importance of governance structures for encouraging CSR, and the dampening impact of cost to CSR performance.

Power structure research examines core issues in the discipline of sociology; yet this important area of study is declining because of the conceptual, theoretical, and methodological problems. In this paper, I address each of these problems and proposing solutions. I then test the validity of my proposed solutions by conducting empirical analyses examining how big business and labor political action committee (PAC) contributors influence U.S. House decision making. My findings vividly show significant big business influence on House decision making, but negligible labor influence. These findings carry considerable implications for power structure theorizing and research, and provide a solid foundation for future power structure work.

In recent decades, it has become clear that the major economic, political, and social problems in the world require contemporary development research to examine intersections of race and class in the global economy. Theorists in the Black Radical Tradition (BRT) were the first to develop and advance a powerful research agenda that integrated race–class analyses of capitalist development. However, over time, progressive waves of research streams in development studies have successively stripped these concepts from their analyses. Post-1950s, class analyses of development overlapped with some important features of the BRT, but removed race. Post-1990s, ethnicity-based analyses of development excised both race and class. In this chapter, I discuss what we learn about capitalist development using the integrated race–class analyses of the BRT, and how jettisoning these concepts weakens our understanding of the political economy of development. To remedy our current knowledge gaps, I call for applying insights of the BRT to our analyses of the development trajectories of nations.

We compare the governance characteristics of dual-class firms to a matched sample of single-class firms. Dual-class firms allow firms to separate voting and cash flow rights, frequently allowing management to control the voting rights while only having a small proportion of the cash flow rights. With the control of the voting rights, management has the ability to choose governance characteristics to further entrench itself or help protect the rights of the minority investors. We show that dual-class firms are less likely to have independent boards and have lower levels of institutional ownership. However, dual-class firms are more likely to have separate individuals as CEO and Chairman of the Board and less likely to have staggered boards, which are considered to be good governance characteristics.

Recent theory and research suggests that local relational networks among business organizations play an important role in establishing and preserving a locale's identity. Such networks facilitate the development, dissemination, and enforcement of norms and cognitive frames that guide local business behavior. They also provide a vehicle for the consolidation of local business interests and for the coordination of local business strategic action. We examine the factors that influenced the likelihood that the CEOs of large corporations sat on the board of directors of large locally headquartered commercial banks in the 1960s. We focused on the 1960s because doing so allows us to make use of an exceptional comprehensive data set on the attributes and relationships of large firms and their leaders. We examine connections to commercial banks because these banks played a crucial role in community development in the 1960s. We find that both the class attributes of corporate CEOs (as reflected in their ownership of the firm and their affiliation with elite educational, social, and policy-making institutions) and the organizational attributes of their firms (as reflected in their financial structure, geographic reach, and age) influenced a CEO's propensity to sit on the board of a locally headquartered bank. These results suggest that future research on participation in local relational networks should take into account both class and organizational theories. They also suggest that future research on the class and organizational underpinnings of relational networks should pay closer attention to spatial relations.

This chapter draws from a three-year ethnographic study focused on the educational and community interactions among working- and middle-class ethnic Chinese immigrants in a mid-western town in the United States. Aihwa Ong (1999) argues that “Chineseness” is a fluid, cultural practice manifested within the Chinese diaspora in particular ways that relate to globalization in late modernity, immigrants’ cultural background, their place in the social structure in their home society, and their new social class status in the context they enter. The study extends research focused on the complexities of social reproduction within larger global flows of Chinese immigrants. First, we describe how Chinese immigrants’ social status in their countries of origin in part shapes middle and working-class group’s access to cultural capital and positions in the social structure of their post-migration context. Second, we trace groups’ negotiation of their relational race and class positioning in the new context (Ong, 1999) that is often invisible in the processes of social reproduction. Third, we describe how both groups must negotiate national, community, and schooling conceptions of the model minority concept (Lee, 1996) that shapes Asian-American’s lived realities in the United States; yet the continuing salience of their immigrant experience, home culture, and access to cultural capital (Bourdieu, 2007) means that they enact the “model minority” concept differently. The findings suggest the complexity of Chinese immigrants’ accommodation of and resistance to normative ideologies and local structures that cumulatively contribute to social reproduction on the basis of class.

As Comaroff and Comaroff argue, in their discussion of the intersection of ethnographical research and historical perspectives, social change is a dynamic process in which existing social and political tensions, local and global, are played out, with an uncertain outcome. Change is often about how competing groups come to power (Comaroff & Comaroff, 1992). Consumer researchers have already applied this perspective on class, consumption, and change in places as widespread as Niger and the US, but not to Eastern Europe.

The paper argues for a comprehensive method of sociological deconstruction and reconstruction that includes: (i) de-subjectifying interpretation, (ii) re-subjectifying explanation, (iii) de-objectifying understanding, and (iv) re-objectifying conceptualization.

Both methodological and substantive arguments are guided by the constructive principle of mediating interpenetration of polar opposites.

Status groups and class interests are conceived as major categories of sociological differentiation mediating between the abstractions of individuals and society. Three types of class formation are discovered in Weber’s legacy beyond Marx’s property one. Sorokin’s work in a two-dimensional social stratification and mobility is found to have major significance for developing the concept of social classes and for reconciling divergent ideas of social stratification. The principle of concept formation by mediation of interpenetrating polar opposites is found to be of greater complexity and effectiveness than Hegel’s logical principle of transcendental supersession.

The comprehensive method of sociological deconstruction and reconstruction seamlessly integrates qualitative and quantitative methods in sociology as well as concept formation and research.