He foresees the spread of low productivity jobs with basement wages and practically no benefits like health insurance or pensions.
The development economist, Guy Standing, sees something altogether different. He has coined the term “ precariat” (an unhappy marriage of the precarious and proletariat) to describe a new and expanding underclass. While most economists have fretted about jobless growth since the last financial crisis, Standing looks to the future and sees “growth-less jobs” as the real issue. He foresees the spread of low productivity jobs with basement wages and practically no benefits like health insurance or pensions.