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.
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.