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Capitalism, Meritocracy, and Social Stratification: A Radical Reformulation of the Davis-Moore Thesis

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  • Costas Panayotakis

Abstract

This article advances a reconceptualization of the Davis-Moore thesis, which adresses the weaknesses of Davis and Moore's original formulation and can function not as a causal explanation of inequality but as a normative yardstick, against which the efficiency of capitalist society's use of human talents can be measured. I argue that the nonmeritocratic nature of capitalist society prevents it from using human talents efficiently and that this fact is obscured by a “meritocratic illusion” that is systematically generated by the structural logic of capitalist society. After briefly exploring one way in which capitalism's ecological contradictions impinge on the Davis-Moore thesis, I conclude by arguing that it is the mediation of capitalism's contradictions through social struggles that will determine whether a more meritocratic society consistent with the reconceptualized version of the Davis-Moore thesis will ever emerge.

Suggested Citation

  • Costas Panayotakis, 2014. "Capitalism, Meritocracy, and Social Stratification: A Radical Reformulation of the Davis-Moore Thesis," American Journal of Economics and Sociology, Wiley Blackwell, vol. 73(1), pages 126-150, January.
  • Handle: RePEc:bla:ajecsc:v:73:y:2014:i:1:p:126-150
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    File URL: http://hdl.handle.net/10.1111/ajes.12068
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