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The Religion of Workism Is Making Americans Miserable - The Atlantic
The economists of the early 20th century did not foresee that work might evolve from a means of material production to a means of identity production. They failed to anticipate that, for the poor and middle class, work would remain a necessity; but for the college-educated elite, it would morph into a kind of religion, promising identity, transcendence, and community. Call it workism.
USA  work  labour  hours  overwork  Keynes  DWYL  identity  passion  religion  healthcare  employment  millennials  debt  students  socialMedia  pay  wages  competition  welfare  freeTime  economics 
24 days ago by petej
The rise of the student worker | Red Pepper
The marketisation of universities and privatisation of the students’ social reproduction has broken the walls separating the university as an academically oriented space that is partially autonomous from the demands of capital. From setting foot on campus to taking a loan to finding place to live, students today cannot escape their forcible integration into international capital’s search for investment returns in an increasingly volatile market.
mai68  students  PCF  France  TheLeft  ToynbeePolly  demo2010  UK  grants  loans  work  labour  jobs  class  debt  interestRates  financialisation  marketisation 
8 weeks ago by petej
How Millennials Became The Burnout Generation
Those expectations encapsulate the millennial rearing project, in which students internalize the need to find employment that reflects well on their parents (steady, decently paying, recognizable as a “good job”) that’s also impressive to their peers (at a “cool” company) and fulfills what they’ve been told has been the end goal of all of this childhood optimization: doing work that you’re passionate about.
millennials  mentalHealth  stress  burnout  work  overwork  insecurity  instability  money  debt  precarity  education  parenting  DWYL  passion  jobs  employment  socialMedia  Instagram  identity  performance  branding  exploitation  acquiescence  women  culture  politics  lateCapitalism 
10 weeks ago by petej
The Economy Killed Millennials, Not Vice Versa - The Atlantic
Why would young people feel such revolutionary fervor? Maybe it’s not because Millennials have rejected the American dream, but rather because the economy has not only blocked their path to attaining it but punished them for trying to.
USA  economy  millennials  youth  income  spending  media  consumerism  housing  affordability  cars  DemocraticParty  education  debt  politics 
december 2018 by petej
Mis-sold, expensive and overhyped: why our universities are a con | Aditya Chakrabortty | Opinion | The Guardian
For two decades, Westminster has used universities as its magic answer for social mobility. Ministers did so with the connivance of highly paid vice-chancellors, and in the process they have trashed much of what was good about British higher education. What should be sites for speculative inquiry and critical thinking have instead turned into businesses that speculate on property deals, criticise academics who aren’t publishing in the right journals – and fail spectacularly to engage with the serious social and economic problems that confront the UK right now. As for the graduates, they largely wind up taking the same place in the queue as their parents – only this time with an expensive certificate detailing their newfound expertise.
education  higherEducation  universities  expansion  fees  tuitionFees  pay  wages  salaries  marketisation  debt  class  socialMobility  UK  policy  dctagged  dc:creator=ChakraborttyAditya 
september 2018 by petej
An economic recovery based around high debt is really no recovery | Larry Elliott | Business | The Guardian
In truth, the idea that state profligacy caused the Great Recession has never been credible. What really happened was that the expansion of the global marketplace led to cheap goods flooding the west. Inflationary pressure abated and that persuaded central banks to cut interest rates. Financial deregulation meant the only remaining constraint on excessive borrowing – high interest rates – was removed – and so credit was cheap and readily available. The private sector loaded up on debt, which was fine so long as the assets on the other side of the balance sheet were going up in value. When the markets turned, things went pear-shaped very quickly.

Only at that point, did public sector debt become a problem because governments sought to ameliorate the impact of the recession by cutting taxes and increasing spending. The debts incurred by the private sector were, to an extent, nationalised.
economics  finance  debt  crisis  crash  recession  recovery  dctagged  dc:creator=ElliottLarry 
september 2018 by petej
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