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In recent years, established U.S.stock markets have faced significant competition from:
Social Status
An individual's or group's position within a hierarchical society, which can be determined by wealth, occupation, education, or family lineage.
Genetic Endowment
The genetic inheritance passed from parents to offspring, determining various biological characteristics and predispositions.
Conflict Theorists
Scholars who view social life as a competition, and focus on the distribution of resources, power, and inequality.
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