The concentration of capital and income within a small percentage of the population has accelerated during the economic liberalization process. In France,the wealth held by the 500 wealthiest individuals and families increased sixfold between 2003 and 2024,according to the Observatory of Inequalities. Simultaneously, dividend payouts and stock buybacks for CAC 40 shareholders have surged by 216%. In contrast, the minimum wage has only risen by 3% over the past two decades, while the number of homeless deaths in the streets has increased by nearly 50% between 2013 and 2023, according to the Collective Les Morts de la Rue.

Those who benefit most from neoliberal policies-the ultra-rich and top executives-are disproportionately white men who occupy high-income positions, often due to the financial, cultural, and social capital they inherit from thier families, according to Pierre Bourdieu. These advantages allow them to transform inherited wealth and legitimize their societal standing, obscuring their privileged backgrounds behind a facade of meritocracy. Public authorities must implement measures to address this social determinism,which perpetuates racial and gender inequalities. However, the rise of fascist and libertarian governments globally is leading to the opposite effect. For instance, in Brazil, white individuals earn, on average, 70% more than Afro-descendants, according to the Brazilian Institute of Geography and Statistics. Similarly, in the United States, the average Black household possesses only 15.8% of the wealth held by the average white household.

Austerity measures, often justified by the need to repay debt, disproportionately affect marginalized groups and exacerbate existing inequalities. These policies often lead to cuts in social programs and public services, which are vital for supporting vulnerable populations.

The Devaluation of Social Reproduction Work

The studies and employment occupied by the richest and the big business leaders are a means for them to transform the capital acquired at birth and to legitimize their place in society.

The text also highlights the importance of recognizing and valuing social reproduction work, which includes unpaid care work, domestic labor, and community work.This type of work is essential for maintaining society and supporting the workforce, yet it is often devalued and disproportionately performed by women. The authors advocate for a more equitable distribution of this work and for its recognition in financial terms and social prestige. They also support a general reduction in working hours, given technological advancements and the increasing number of unnecessary jobs in the tertiary sector, referencing David Graeber’s work on “Bullshit Jobs.” The authors emphasize that while they do not advocate for everyone to work full-time, they deplore the social and financial devaluation of social reproduction work, which is primarily done by women, whether paid or unpaid.