Class acts

Under capitalism, perhaps the most conventional mode of asserting status is through the performance of wealth. In the early twentieth century, German sociologist Max Weber identified that Northern European societies had conflated an individual’s personal worth with their financial value. This represented the amalgam of two distinct theories: one moral, the other economic. The first was the Protestant idealisation of the work ethic – the idea that to work hard was to exhibit virtue. The second was what historian Eli Cook, author of The Pricing of Progress: Economic Indicators and the Capitalization of American Life, calls ‘the lessons of mainstream neoclassical economics, which suggested, through [the economist] John Bates Clark’s theory of marginal productivity, that everyone earns what they in fact produced’.