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Citadels of privilege: the rise of LLCs, LPs and the perpetuation of elite power in America
Economy and Society ( IF 4.0 ) Pub Date : 2019-07-03 , DOI: 10.1080/03085147.2019.1626629
Matthew Soener 1 , Michael Nau 2
Affiliation  

Abstract Corporations are typically identified as the primary organization for producing and redistributing resources. They continue to be important but are not alone. Since the early 1990s, there has been a substantial rise in the number of limited liability companies (LLCs) and limited partnerships (LPs) in the United States. These flexible legal-organizational forms combine the benefits of traditional corporations but with less public accountability and lower taxation rates. They therefore give elites reprieve from the New Deal era regulations placed on corporations. We bring these organizations to light by historicizing their emergence and document key trends around social inequality. Technocratic elites constructed these organizations from legal bricolage and they now contribute significantly to American capital accumulation. Moreover, the top 1 per cent owns the majority of LLC and LP assets – a group that is overwhelmingly white and male. Far from being neutral organizations, they reinforce the interests of dominant social groups.

中文翻译:

特权堡垒:有限责任公司、有限合伙人的兴起以及美国精英权力的延续

摘要 公司通常被认为是生产和重新分配资源的主要组织。他们仍然很重要,但并不孤单。自 1990 年代初以来,美国的有限责任公司 (LLC) 和有限合伙企业 (LP) 的数量大幅增加。这些灵活的合法组织形式结合了传统公司的好处,但公共责任较少,税率较低。因此,它们让精英们从新政时代对公司的规定中得到缓刑。我们通过历史化这些组织的出现并记录围绕社会不平等的主要趋势来揭示这些组织。技术精英们从合法的拼凑中构建了这些组织,他们现在为美国的资本积累做出了重大贡献。而且,前 1% 的人拥有大部分 LLC 和 LP 资产——这一群体绝大多数是白人和男性。它们远非中立组织,而是强化了主导社会群体的利益。
更新日期:2019-07-03
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