The Precariat: Today’s Transformative Class?

 

Guy Standing

S
ince 1980, the global economy has undergone a dramatic transformation, with the globalisation of the labour force, the rise of automation, and—above all—the growth of Big Finance, Big Pharma, and Big Tech. The social democratic consensus of the immediate postwar years has given way to a new phase of capitalism that is leaving workers further behind and reshaping the class structure. The precariat, a mass class defined by unstable labor arrangements, lack of identity, and erosion of rights, is emerging as today’s “dangerous class.” As its demands cannot be met within the current system, the precariat carries transformative potential. To realise that potential, however, the precariat must awaken to its status as a class and fight for a radically changed income distribution that reclaims the commons and guarantees a liveable income for all. Without transformative action, a dark political era looms.

 

For a full read of this brief, click here or on the picture to download the pdf file.

  

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ECONOMIC ASSESSMENTS AND SUSTAINABLE DEVELOPMENT