2021: Creating a Lexicon of Future

P is for Precariat

In sociology and economics, the precariat (/prɪˈkɛəriət/) is a neologism for a social class formed by people suffering from precarity, which means existing without predictability or security, affecting material or psychological welfare. The term is a portmanteau merging precarious with proletariat.[1]

Unlike the proletariat class of industrial workers in the 20th century who lacked their own means of production and hence sold their labor to live, members of the precariat are only partially involved in labor and must undertake extensive unremunerated activities that are essential if they are to retain access to jobs and to decent earnings. Classic examples of such unpaid activities include continually having to search for work (including preparing for and attending job interviews), as well as being expected to be perpetually responsive to calls for “gig” work (yet without being paid an actual wage for being “on call”).

The hallmark of the precariat class is the condition of lack of job security, including intermittent employment or underemployment and the resultant precarious existence. The emergence of this class has been ascribed to the entrenchment of neoliberal capitalism. ~ Wikipedia

Guy Standing has more than anyone else been responsible, as an academic and an activist…