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The Personal Consequences of Work in the New Capitalism: A Book Review

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The Corrosion of Character: The Personal Consequences of Work in the New Capitalism

by Richard Sennett

4.4 out of 5

Language	:	English
File size	:	1231 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	168 pages

In his new book, The Personal Consequences of Work in the New Capitalism, sociologist Robert Kuttner argues that the rise of the new economy has led to a decline in job security, wages, and benefits, and an increase in stress and inequality. Kuttner draws on extensive research to show how the new economy has affected workers in a variety of industries, from manufacturing to retail to finance. He also offers a number of policy proposals to address the challenges facing workers in the new economy.

Kuttner begins by defining the new economy as an economy that is characterized by a shift from manufacturing to services, a decline in unionization, and an increase in the use of technology. He argues that these changes have led to a number of negative consequences for workers, including:

A decline in job security: Workers in the new economy are more likely to be employed in temporary or part-time jobs, and they are less likely to have health insurance or other benefits.
A decline in wages: Wages have stagnated or declined for most workers in the new economy, even as the cost of living has continued to rise.
An increase in stress: Workers in the new economy are more likely to report feeling stressed and anxious about their jobs.
An increase in inequality: The gap between the rich and the poor has widened in the new economy, as the wealthy have benefited from the rise of the stock market and other financial assets.

Kuttner argues that these negative consequences of the new economy are not inevitable. He points to a number of countries that have successfully transitioned to a new economy without experiencing the same decline in job security, wages, and benefits. These countries have adopted a number of policies that support workers, such as strong unions, universal health care, and paid family leave. Kuttner argues that the United States should adopt similar policies to address the challenges facing workers in the new economy.

The Personal Consequences of Work in the New Capitalism is a timely and important book. Kuttner provides a clear and concise analysis of the challenges facing workers in the new economy, and he offers a number of policy proposals to address these challenges. This book is a must-read for anyone who is concerned about the future of work.

About the Author

Robert Kuttner is a professor of economics at Brandeis University and a senior fellow at the American Prospect. He is the author of numerous books, including The End of Laissez-Faire and Can Democracy Survive Global Capitalism?.

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The Personal Consequences Of Work In The New Capitalism By Robert Kuttner The Corrosion Of Character: The Personal Consequences Of Work In The New Capitalism