Actions and Detail Panel
The Corruption of Capitalism: Why Rentiers Thrive and the Precariat Struggl...
Wed 3 May 2017, 12:00 – 14:00 BST
Speaker: Professor Guy Standing (School of Oriental and African Studies, London)
Discussant: Professor Michael W. Howard (The University of Maine)
In the context of globalisation and the latter stages of the neo-liberal phase of the Global Transformation, in what is called austerity, the 20th century income distribution system has broken down irretrievably. Aided by the silicon revolution and labour market flexibility policies, the interests of financial capital have constructed an unfree market system of rentier capitalism. It is institutionally corrupt.
One consequence is that the growing inequality has generated a global class structure in which the precariat is growing and becoming more insecure and vulnerable. The precariat consists of millions of people forced to live unstable lives, without occupational identify, relying on low and volatile money wages and losing all forms of rights. It is alienated, anomic, anxious and angry, and is fomenting dangerous forms of populism. This presentation will elaborate on these themes, drawing on a trilogy of recent books.
*This event is being hosted in collaboration with the Department of Politics.