How Functionalists conflict theorists and symbolic Interactionists view the economy and work? 2024

Economic disparity is the unequal distribution of income and opportunities among different groups of society.  It has changed throughout different time periods of America’s history and is indicative of a prevalent inequality
within a given society.  Although it has narrowed and widened, the issue always prevails.

This image depicts economic inequality while one individual largely benefits in comparison to many others (Gold Telegraph).

Functionalist
Perspective

When it comes to economic disparity, the Functionalist Theory poses that all aspects of society – the wealthy, the working class, and the individuals stricken with poverty – are imperative in maintaining stability within a large working system.  This theory argues that it is beneficial to have extremely wealthy individuals as well as extremely impoverished individuals within the same society because they both maintain those worthy at the top and those unworthy at
the bottom. This theory sees the economic disparity issue to be an incentive to work harder for those who wish to be at the very top and encourages those already at the top to keep working hard to remain there.  This theory sees every part to be integral within a functioning society, whether the reasonings are positive or negative. Those located at the top of the economic ladder are necessary to keep society thriving, so they have the most prestigious and best-paying careers. Contrarily,
the lower classes are significant in society because they occupy the jobs that the wealthy and educated are overqualified for, such as janitors and garbage collectors. In this theory, social inequality leads to a meritocracy.^1  Although not everyone wishes to have those jobs, they are necessary in a functioning society because someone has to do them. Overall, the functionalist theory sees that within the larger picture, each small detail is necessary to have an efficient-working
society.

This picture depicts Conflict Theory in that one group [left] is unable to conquer and rise above to become part of the other group [right] (ThoughtCo).

Conflict Theory

Conflict theory poses that economic inequality is detrimental to society
because it creates a system of winners and losers.  This theory sees the disparity as being a powerful group dominating over a weaker group of society. In order to maintain the status quo, “those in power repress the powerless.”^2  domination is most usually achieved as a result of cultural hegemony, such as thoughts, values, beliefs, worldviews, norms, and expectations.^3  For example, today’s billionaires such as Jeff Bezos exercise power at the
expense of the poor people. The poor individuals do not get fair opportunities to compete alongside Bezos.  The competitive nature of this social issue creates social stratification. Additionally, the elite of society are often advantaged and given breaks (i.e. tax breaks) with hopes that they will invest that money so it will go back into the economy.  Ultimately, however, it is at their own discretion.  The wealthy possess power and use it as leverage so that they maintain
control over sectors of society.  This creates conflict and hostility between the groups of society.  The lower group of society is unable to rise above because they are kept below by those exercising power and wealth.  Conflict theorists would argue that economic disparity is a system in which people are meant to be kept down by the elite of society who dominate over everyone else.