Increasing inequality and the collapse of social guarantees: what forms of politization can this bring into force? A lecture by the economist and sociologist Guy Standing will take place as part of the Money thematic block and will touch upon the most disturbing issues of present day global economics.
In the context of globalisation and the end-game of the neo-liberal phase of Global Transformation, in what is euphemistically called austerity, the twentieth century income distribution system has broken down irretrievably. Aided by the silicon revolution and a generation of labour market flexibility policies, the interests of financial capital have constructed an unfree market system of rentier capitalism. One consequence is that growing inequality has generated a global class structure in which the precariat is growing and becoming steadily more insecure and vulnerable. The precariat consists of millions of people being forced to live unstable lives, without occupational identity, relying on low and volatile wages and losing all forms of rights. It is alienated, anomic, anxious and angry. This presentation will elaborate on these themes and will draw on a trilogy of recent books.