English - Actor | September 1, 1873 - February 24, 1937
People in the precariat rely very heavily on money wages.
Guy Standing
MoneyPeopleWagesRelyVery
If you're healthier, you tend to have a lower demand for health services.
HealthYouDemandLowerHealthier
The precariat faces chronic uncertainty about what to do, about what incomes to expect, about state benefits that might be their due, about their relationships, their homes, and about the occupations they can realistically expect.
UncertaintyRelationshipsExpect
Across Europe, not just in the U.K., the old Beveridge and Bismarckian variants of the welfare state have been dismantled. In their place has been erected a mish-mash of means-tested, behaviour-tested social assistance, with a growing tendency to force young unemployed into workfare schemes, which are helping to depress real wages.
PlaceGrowingYoungOldRealEurope
Globalisation began what should be called the Great Convergence, creating a globalising labour market in which wages in emerging market economies slowly converge with wages in rich economies, generating a steady drop in real wages across Europe.
GreatRichCreatingRealSteady
Twentieth-century welfare state capitalism was historically unique in that national income was split between wages and profits, labour and capital.
CapitalismUniqueWelfareIncome
If I care for an elderly relative without payment, it is not work, is not counted in national income, and, as it is not labour, is not counted as work. Should my neighbour pay me to do precisely the same tasks, it would contribute to economic growth.
WorkGrowthMeCarePayWithout
A person looking after a frail former lover is not working and not contributing to economic growth. But if he or she stopped, the state would probably have to take over, thereby adding to growth. So, to increase growth, we should stop looking after our loved ones. Could anybody explain to a passing Martian how this makes sense?
GrowthLookingLovedStopPerson
Think how modern economics presents work. Only labour that contributes to growth counts.
WorkGrowthEconomicsThinkModern
The income distribution system constructed in the 20th century has broken down, and it will not come back.
BrokenBackDownWillSystemIncome
People want to work, but they don't want to necessarily want to do labour.
WorkPeopleWantLabourNecessarily
We are in an era of chronic insecurity and growing inequalities. In that context, we need to have new mechanisms for income distribution which give people a sense of security.
PeopleInsecuritySecurityGrowing
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