The Economic Basis of Social Class

In this paper we adopt a theory of class positions based on employmentrelations to assess what implications individuals’ class positions have for theireconomic life. In particular we consider economic security (the risk ofunemployment), economic stability (the variability component in earnings) andeconomic prospects (lifetime earnings profiles). Our findings provide empiricalsupport for the theory itself and little evidence for the currently fashionableclaims of the decline, or even death, of class in today’s society.[...]