week 08 (the corporate class)

week 08 (the corporate class) - SOCIOLOGY 3683 WEALTH POWER...

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Click to edit Master subtitle style SOCIOLOGY 3683: WEALTH, POWER, & PRESTIGE The Corporate class
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The Corporate Class Corporate class: power derived from corporate control rather than ownership chief executive officers (CEOs) board members Upper class entry: boundaries are fairly rigid Corporate class entry: boundaries are more permeable but many in corporate class are from upper class
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The Corporate Class Corporate concentration 200,000 industrial corporations exist today 75% of all corporate assets controlled by only 100 industrial corporations In 1950, only 40% of all corporate assets controlled by top 100 industrial corporations Increased corporate concentration due to the rise of mergers and acquisitions (M&As) since the 1990s
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The Corporate Class Consequences of corporate concentration Decline in corporate competition Monopolization of the production process increased control over setting labor conditions and product cost/quality
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