Abstract
Since 1980, the global economy has undergone a dramatic transformation, with the globalization 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 labour 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 realize 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 livable income for all. Without transformative action, a dark political era looms.
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Notes
For references, names, and data in this section, see Standing (2017a).
‘Work-for-reproduction’ includes activities that the precariat must undertake to sell themselves in the labour market, such as retraining, learning new tricks, brushing up a resume, and networking. Work-for-state includes all the form-filling, queuing, and other activities they must do in order to obtain meager benefits or services. This time burden imposed on the precariat has been ignored by mainstream labour economists.
The term ‘social income’ refers to all sources of income—own production, wages, non-wage enterprise benefits, occupational benefits, community benefits, state benefits, and family transfers.
‘Returns,’ Norges Bank Investment Management, accessed August 3, 2018, www.nbim.no/en/the-fund/return-on-the-fund.
References
Du, Caixia. 2017. The Chinese Precariat on the Internet. PhD diss., Tilburg University.
Standing, Guy. 2015. A Precariat Charter: From Denizens to Citizens. London: Bloomsbury.
Standing, Guy. 2016. The Precariat: The New Dangerous Class, 4th ed. London: Bloomsbury.
Standing, Guy. 2017a. The Corruption of Capitalism: Why Rentiers Thrive and Work Does Not Pay. London: Biteback.
Standing, Guy. 2017b. Basic Income: A Guide for the Open-Minded. New Haven: Yale University Press.
Standing, Guy. 2017c. Basic Income: And How We Can Make It Happen. London: Pelican.
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This article was originally published by the Great Transition Initiative at www.greattransition.org, under a Creative Commons BC-NC-ND copyright, held by the Tellus Institute.
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Standing, G. The Precariat: Today’s Transformative Class?. Development 61, 115–121 (2018). https://doi.org/10.1057/s41301-018-0182-5
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DOI: https://doi.org/10.1057/s41301-018-0182-5