Ravi Kanbur Quotes & Sayings

In a market economy, a main determinant of social standing is participation in the labor market and the associated willingness to 'self-commodify' (e.g., Esping-Andersen 1999), the latter term nicely emphasizing how market economies render all forms of worth, even self-worth, a function of market valuation. When individuals fail to self-commodify, they fall outside the most fundamental institutions of the society, thereby reducing them to nonentities and social ciphers. This is why a mere transfer of income to the underclass... is inconsequential in relieving feelings of social exclusion. If anything, such a transfer only draws attention to the initial failure to self-commodify. although a class map also embodies distinctions of social standing among those who have an enduring commitment to the labor market, the social divide between the underclass and all other classes looms especially large because it captures this fundamental insider-outsider distinction. — Ravi Kanbur