Are the terms “socio-economic status” and “class status” a warped form of reasoning for Max Weber?

@article{Waters2016AreTT,  title={Are the terms “socio-economic status” and “class status” a warped form of reasoning for Max Weber?},  author={Tony Waters and Dagmar Waters},  journal={Palgrave Communications},  year={2016},  volume={2},  url={https://api.semanticscholar.org/CorpusID:147625219}}
A classic definition of social inequality comes from the sociologist Max Weber, who wrote that there are three fundamental types of inequality. The first is based in the marketplace and is “social class”. The second, and more important distinction, is based in estimations of honour that Weber called in German Stand, which traditionally is translated into English as “status group”. The third type of stratification is “party” where power is distributed. Weber emphasized that the two forms of… 

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