SOAS Research Online

Abstract

The world economy is in the midst of a Global Transformation that is producing a new global class structure. A new class is emerging – the precariat – characterised by chronic uncertainty and insecurity. Although the precariat is still a class-in-the-making, divided within itself, its elements are united in rejecting old mainstream political traditions. To become a transformative class, however, the precariat needs to move beyond the primitive rebel stage manifested in 2011 and become enough of a class-for-itself to be a power for change. This will involve a struggle for redistribution of the key assets needed for a good life in a good society in the twenty-first century – not the “means of production”, but socio-economic security, control of time, quality space, knowledge (or education), financial knowledge and financial capital.