Sociology and Political Science in the Patrimonial Society: Implications of Piketty’s Capital

• In Event: 515 - Theory Section Paper Session. Theorizing Inequalities

Abstract

When economic growth (g) is lower than capital returns (r), Piketty argues in Capital in the 21st Century, income inequalities grow wider and are predicated upon capital ownership rather than wage and human capital. We argue that this patrimonial dynamics affect many related social processes such as the nature of firms and market competition, the multi-dimensional character of stratification, and the distribution of political power in democratic regimes. We oppose concepts that fit the era of affluence when g > r, to concepts which fit the patrimonial regime, when r > g, and we argue that sociologists and political scientists should update their conceptual tools to reflect, and better capture, the new patrimonial reality of Western societies.

Authors

• Francois Bonnet, CNRS

• Clement Thery, Columbia University