Can Capitalism Buy Happiness?

smiley face

Over two years ago, the first blog post in this series asked, “Can money buy happiness?” Today’s question looks past the medium of economic exchange to the more foundational sociological and psychological implications of contemporary hyper-competitive capitalism — a good example of which is the “meritocracy trap” we looked at last time, which clearly is not making capitalism’s elite happy, but instead is driving maladaptive behavior like the college admissions scandal.

The scandal evokes the kind of horrified fascination you get from reading the National Enquirer headlines in the checkout line:

“A teenage girl who did not play soccer magically became a star soccer recruit at Yale. Cost to her parents: $1.2 million.

“A high school boy eager to enroll at the University of Southern California was falsely deemed to have a learning disability so he could take his standardized test with a complicit proctor who would make sure he got the right score. Cost to his parents: at least $50,000.

“A student with no experience rowing won a spot on the U.S.C. crew team after a photograph of another person in a boat was submitted as evidence of her prowess. Her parents wired $200,000 into a special account.”

Actresses, Business Leaders and Other Wealthy Parents Charged in U.S. College Entry Fraud, New York Times (March 12, 2019)

What the…?

The parents who wrote those big checks now face a stiff legal price, but why did they do it in the first place? An ongoing discussion over the past several years[i] suggests an answer:  they did it because of the “meritocracy trap” as evident in higher education, — an economic necessity for more than just the elite — where the current dynamics of of how capitalism is practiced are a significant contributor to mental ill health.

A long article on that topic came out last weekend:  The Way Universities Are Run Is Making Us Ill’: Inside The Student Mental Health Crisis. The Guardian (Sept. 27, 2019). The subhead reads “A surge in anxiety and stress is sweeping UK campuses. What is troubling students, and is it the universities’ job to fix it?” The article’s U.K. examples mirror those that prompted the USA’s college admission scandal,. Predominant mental health issues on both sides of the Atlantic include general anxiety disorder, depression, and “an alarming number of suicides.” What’s behind all this? Consider these quotes from the article:

“In the drive to make universities profitable, there is a fundamental confusion about what they are for. As a result, there has been a shift from prizing learning as an end in itself to equipping graduates for the job market, in what for some can be a joyless environment.

“Studies have looked at the impact of social media, or lack of sleep caused by electronic devices, as well as the effects of an uncertain job market, personal debt and constricted public services.

“In his book Kids These Days: The Making of Millennials, Malcolm Harris … identifies the pressures of the labour market, rising student debt and a target-driven culture as contributing to steep increases in anxiety and depression among young people.

“Driving our universities to act like businesses doesn’t just cannibalise the joy of learning and the social utility of research and teaching; it also makes us ill,’ wrote Mark Crawford, then a postgraduate student union officer at UCL, in a 2018 piece for Red Pepper magazine… ‘It’s self-worth being reduced to academic outcomes, support services being cut, the massive cost of housing,’ he says.

“[Mental health authorities] have noticed a fall in participation. It’s getting harder to fill up events, most likely a symptom of the sharp increase in students living far away from campus to save money… Others have limited time as they juggle studies with paid work.

“For [Sean Cullen, a student featured in the article], money worries have been a grinding and ever-present aspect of his university experience. In his first year, he socialised more than he does now. But given that a single night out costs as much as a weekly food shop, he soon began to think twice about going out with friends. To complicate matters, the amount he receives from Student Finance England, the body responsible for student loans, changed year by year, with unpredictable amounts and repayment terms. “The financial aid is getting worse and worse, even though the cost of living is going up,” he says.

“In 2017, Cullen was elected as the student union’s disability officer… He heard accounts of mental health problems from hundreds of other students, many of whose experiences chimed with his own. ‘I’ve not yet met a student that hasn’t experienced high levels of stress while studying, whether it’s because of deadlines, balancing paid work, or problems with housing,’ he says.

“While many students survive more or less on their overdrafts, …many have mental health problems in their final year. ‘Nowadays, getting a degree doesn’t necessarily guarantee you a job, or not a better job than without one,’ he says.

“[The need to work many hours per week] has an impact not only on academic performance but on students’ ability to fully participate in university life.

“Students exhausted from working while studying full time, and still struggling to cover their basic living costs, are bound to be more anxious about deadlines and exams. ‘It’s all the environmental stuff that makes it more stressful… If you’re tired, you haven’t had time to study, you have to make a long journey to university, it’s all cumulative.’”

Cuts in social services, educational and housing costs, social isolation, student loans, constricted access to upward mobility, a stingy job market, precarious prospects for sustainable income, a struggle to find meaning and purpose at work… these are economic issues, not education issues. This series has looked at all of them. Next time we’ll look further into what’s behind them..

[1] See, for example, this NCBI study:  “Anxious? Depressed? You might be suffering from capitalism: Contradictory class locations and the prevalence of depression and anxiety in the United States.”

Ambition: Promised Land or Wasteland?

A heap of broken images, where the sun beats,
And the dead tree gives no shelter, the cricket no relief,
And the dry stone no sound of water. Only
There is shadow under this red rock,
(Come in under the shadow of this red rock),
And I will show you something different from either
Your shadow at morning striding behind you
Or your shadow at evening rising to meet you;
I will show you fear in a handful of dust.”

T.S. Eliot, The Wasteland

We’re exploring how inspiration, motivation, and ambition can help create meaningful work. We found that inspiration is essential, but has a dark side that includes mania and delusional risk taking, and that motivation is a ManagementSpeak relic and a brain stressor.  As for ambition, much current commentary focuses on my kids’ generation, but there’s plenty here for the rest of us if we view it in the larger economic context.

Here’s a quick summary:  Our parents came of age in the glory years of The Job and a Fair Income for the Middle Class. We Baby Boomers were born into that economic model, customized with our own iconoclastic and utopian social visions. The model weakened in the 70’s and 80’s, but we were too busy with kids and careers to notice. The Gen Xers got in early enough to ride the upward mobility escalator, but now that the Millennials are  young adults the model is bankrupt, leaving them to face a whole new gig — as in “gig economy.”

All that happened while most of us didn’t know it. Along with our policymakers, we were and still are stuck in the cognitive and cultural bias of the jobs heyday. Back in the day, we showered the Millennials with self-esteem-building, be-all-you-can-be positive thinking, and told them to follow their dreams. But when they came of age the economy wasn’t set up to support them. Maybe that’s why some parents habitually hedged their advice, urging the kids to have a Plan B and for crying out loud quit with all the cold filtering and get a real job.

(For a remarkable look at the current state of economic opportunity, see “I’m a Millionaire Who Creates Zero Jobs. Why Do I Pay Less Tax Than You?” by Morris Pearl, a career Wall Street One Percenter who is now chairman of the Patriotic Millionaires.)

No wonder people write books like Generation Me: Why Today’s Young Americans Are More Confident, Assertive, Entitled–and More Miserable Than Ever Before , by psychology professor Jean M. Twenge. This is from the flyleaf:

Generation Me“In this provocative and newly revised book, headline-making psychologist Dr. Jean Twenge explores why the young people she calls “Generation Me” are tolerant, confident, open-minded, and ambitious but also disengaged, narcissistic, distrustful, and anxious.

“Born in the ’80s, and ’90s… the children of the Baby Boomers are … feeling the effects of the recession and the changing job market.

“Her often humorous, eyebrow-raising stories about real people vividly bring to life the hopes, disappointments, and challenges of Generation Me.  Engaging, controversial, prescriptive, and funny, Generation Me gives Boomers and GenX’ers new and fascinating insights into their offspring, and helps those in their teens, twenties, and thirties find their road to happiness.”

I was okay with the blurb until it got to “happiness.” I’m more in tune with the article we looked at last time — You Can Do It, Baby! Our Culture Is Rich With Esteem-Boosting Platitudes For Young Dreamers, But The Assurances Are Dishonest And Dangerous,” Aeon Magazine (July 17, 2015):

“Roman Krznaric, founding faculty member of The School of Life in London, says that .. we’ve seen ‘rising expectations among everybody for work that’s more than just a salary… You see this among people who are highly educated… and that helps explain why job dissatisfaction tends to rise over the past couple of decades, because people are asking … to use their talents or passions in their work.’

“The shift in expectation has resulted in tremendous anxiety over achieving these goals and, paradoxically, sheer delusion. Point out to parents or teens just how difficult it can be to achieve such a high-level career and you’ll likely be treated to a catalogue of all the people who bucked the odds. Not just the Oprahs or the Steve Jobses who achieved super-status but the friend of a friend who just bought a modern all-glass home overlooking San Francisco Bay with his signing bonus, or the daughter of a work colleague who was cast in a new TV show, or the neighbour’s son who got a scholarship to Harvard.

“If it’s possible for them, we want to believe that it’s possible for our children too. Besides, who wants to be the killjoy who has to remind the struggling math student that medicine likely isn’t an option? … Besides, technically it is possible. At what point do we abandon possible for probable, and encourage our children to do the same?

“‘This links to the cult of positive thinking,’ says Krznaric, ‘where we’re always wanting to feel up and good and send positive messages… and so we feel that we should only be sending good messages and positive messages to our children and to young people. That it’s somehow wrong or bad or inappropriate to tell them: actually, it isn’t possible.’”

Ambition says it’s possible. Current economics says it’s not. Now what? Back for more next week.

The Rentier Economy: A Primer (Part 2)

My plan for this week’s post was to present further data about the extent of the rentier economy and then provide a digest of articles for further reading.

Turns out that wasn’t so easy. The data is there, but it’s mostly buried in categories like corporate capitalization, profits, and market concentration. Extracting it into blog post sized nuggets wasn’t going to be that easy.

Further, the data was generally only footnoted in a maelstrom of worldwide commentary. Economists and journalists treated it as a given, barely worthy of note, and were much more interested in revealing, analyzing, and debating what it means. The resulting discourse spans the globe — north to south, east to west, and all around the middle — and there is widespread agreement on the basics:

  • Economic thinking has traditionally focused on income from profits generated from the sale of goods and services produced by human labor. In this model, as profits rise, so do wages.
  • Beginning in the 1980’s, globalization began moving production to cheap labor offshore.
  • Since the turn of the millennium, artificial intelligence and robotics have eliminated jobs in the developed world at a pace slowed only by the comparative costs of technology vs. human labor.
  • As a result, lower per unit costs of production have generated soaring profits while wages have stagnated in the developed world. I.e., the link between higher profits and higher wages no longer holds.

Let’s pause for a moment, because that point is huge. Erik Brynjolfsson, director of the MIT Center for Digital Business, and Andrew McAfee, principal research scientist at MIT, wrote about it in their widely cited book The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies (2014). The following is from a chapter-by-chapter digest  written by an all-star cast of economists:

Perhaps the most damning piece of evidence, according to Brynjolfsson, is a chart that only an economist could love. In economics, productivity—the amount of economic value created for a given unit of input, such as an hour of labor—is a crucial indicator of growth and wealth creation. It is a measure of progress.

On the chart Brynjolfsson likes to show, separate lines represent productivity and total employment in the United States. For years after World War II, the two lines closely tracked each other, with increases in jobs corresponding to increases in productivity. The pattern is clear: as businesses generated more value from their workers, the country as a whole became richer, which fueled more economic activity and created even more jobs. Then, beginning in 2000, the lines diverge; productivity continues to rise robustly, but employment suddenly wilts. By 2011, a significant gap appears between the two lines, showing economic growth with no parallel increase in job creation. Brynjolfsson and McAfee call it the “great decoupling.” And Brynjolfsson says he is confident that technology is behind both the healthy growth in productivity and the weak growth in jobs.

Okay, point made. Let’s move on to the rest of the rentier story:

  • These trends have been going on the past four decades, but increased in velocity since the 2007-2009 Recession. The result has been a shift to a new kind of job market characterized by part-time, on-demand, contractual freelance positions that pay less and don’t offer fringe benefits. Those who still hold conventional jobs with salaries and benefits are a dying breed, and probably don’t even realize it.
  • As non-wage earner production has soared, so have profits, resulting in a surplus of corporate cash. Low labor costs and technology have created a boom in corporate investment in patents and other rentable IT assets.
  • Rent-seeking behavior has been increasingly supported by government policy — such as the “regressive regulation” and other “legalized monopoly” dynamics we’ve been looking at in the past few weeks.
  • The combination of long-term wage stagnation and spiraling rentier profits has driven economic inequality to levels rivaled only by pre-revolutionary France, the Gilded Age of the Robber Barons, and the Roaring 20’s.
  • Further, because the rentier economy depends on government policy, it is particularly susceptible to plutocracies, oligarchies, “crony-capitalism,” and other forms of corruption, leading to public mistrust in big business, government, and the social/economic elite.
  • These developments have put globalization on the defensive, resulting in reactionary politics such as populism, nationalism, authoritarianism, and trade protectionism.

As you see, my attempt to put some numbers to the terms “rent” and “rentier” led me straight into some neighborhoods I’ve been trying to stay out of in this series. Finding myself there reminded me of my first encounter with the rentier economy nine years ago, when of course I had no idea that’s what I’d run into. I was at a conference of entrepreneurs, writers, consultants, life coaches, and other optimistic types. We started by introducing ourselves from the microphone at the front of the room. Success story followed success story, then one guy blew up the room by telling how back in the earliest days of the internet, he and Starbucks’ Howard Schultz spent $250K buying up domain names for the biggest corporations and brand names. Last year, he said, he made $76 Million from selling or renting them back.

He was a rentier, and I was in the wrong room. When it was my turn at the mic, I opened my mouth and nothing came out. Welcome to the real world, my idealistic friend.

As it turns out, following the rentier pathway eventually leads us all the way through the opinionated commentary and current headlines to a much bigger worldwide issue. We’ll go there next time.

Eric and Kevin’s Most Excellent Career Adventures

thermos

 

lunch bucket

 

David Graeber’s book Bullshit Jobs is loaded with real-life job stories that meet his definition of “a form of employment that is so completely pointless, unnecessary, or pernicious that even the employee cannot justify its existence even though the employee feels obliged to pretend that this is not the case.” One of those stories rang a bell:  turns out that “Eric” and I had the same job. The details are different, but our experiences involved the same issues of social capital and upward mobility.

Eric grew up in a working class neighborhood, left to attend a major British university, graduated with a history major, landed in a Big 4 accounting firm training program, and took a corporate position that looked like an express elevator to the executive suite. But then the job turned out to be… well, nothing. No one would tell him what to do. He showed up day after day in his new business clothes and tried to look busy while trying in vain to solve the mystery of why he had nothing to do. He tried to quit a couple times, only to be rewarded with raises, and the money was hard to pass up. Frustration gave way to boredom, boredom to depression, and depression to deception. Soon he and his mates at the pub back home hatched a plan to use his generous expense account to travel. gamble, and drink.

In time, Eric learned that his position was the result of a political standoff:  one of the higher-ups had the clout to fund a pet project that the responsible mid-level managers disagreed with, so they colluded to make sure it would never happen. Since Eric had been hired to coordinate internal communication on the project, keeping him in the dark was essential. Eventually he managed to quit, kick his gambling and drinking habits, and take a shot at the artistic career he had envisioned in college.

My story isn’t quite so… um, colorful… but the themes are similar. I also came from a strong “work with your hands” ethic and was in the first generation of my family to go to college, where I joined the children of lawyers, neurosurgeons, professors, diplomats, and other upper echelon white collar professionals from all 50 states and several foreign countries, At the first meeting of my freshmen advisory group, my new classmates talked about books, authors, and academic disciplines I’d never heard of. When I tackled my first class assignment, I had to look up 15 words in the first two pages. And on it went. Altogether, my college career was mostly an exercise in cluelessness. But I was smart and ambitious, and did better than I deserved.

Fast forward nine years, and that’s me again, this time signing on with a boutique corporate law firm as a newly minted MBA/JD. I got there by building a lot of personal human capital, but my steel thermos and metal lunch bucket upbringing was still so ingrained that a few weeks after getting hired I asked a senior associate why nobody ever took morning and afternoon coffee breaks. He looked puzzled, and finally said, “Well… we don’t really take breaks.” Or vacations, evenings, weekends, or holidays, as it turned out.

A couple years later I hired on with a Big 4 accounting firm as a corporate finance consultant. My first assignment was my Eric-equivalent job:  I was assigned to a team of accountants tasked with creating a new chart of accounts for a multinational corporation and its subsidiaries. Never mind that the job had nothing to do with corporate finance…. Plus there were two other little problems:  I didn’t know what a chart of accounts was, and at our first client meeting a key corporate manager announced that he thought the project was ridiculous and intended to oppose it. Undaunted, the other members of the consulting team got to work. Everybody seemed to know what to do, but nobody would tell me, and in the meantime our opponent in management gained a following.

As a result, I spent months away from home every week, trying to look busy. I piled up the frequent flyer miles and enjoyed the 5-star accommodations and meals, but fell into a deep depression .When I told the managing partner about it, he observed that, “Maybe this job isn’t a good fit for you.” He suggested I leave in two months, which happened to be when our consulting contract was due for a renewal. Looking back, I suspect my actual role on the team was “warm body.”

Graeber says that, at first blush, Eric’s story sounds like yet one more bright, idealistic liberal arts grad getting a real-world comeuppance:

“Eric was a young man form a working-class background.. fresh out of college and full of expectations, suddenly confronted with a jolting introduction to the “real world.”

“One could perhaps conclude that Eric’s problem was not just that he hadn’t been sufficiently prepared for the pointlessness of the modern workplace. He had passed through the old educational system … This led to false expectations and an initial shock of disillusionment that he could not overcome.”

Sounds like my story, too, but then Graeber takes his analysis in a different direction:  “To a large degree,” he say, “this is really a story about social class.” Which brings us back to the issues of upward mobility and social capital we’ve been looking. We’ll talk more about those next time.

In the meantime, I can’t resist a Dogbert episode:

Dilbert

On the Third Hand Cont’d.

working robot

Will the machines take over the jobs?

In a recent TED talk, scholar, economist, author, and general wunderkind Daniel Susskindl[1] says the question is distracting us from a much bigger and more important issue:  how will we feed, clothe, and shelter ourselves if we no longer work for a living?:

“If we think of the economy as a pie, technological progress makes the pie bigger. Technological unemployment, if it does happen, in a strange way will be a symptom of that success — we will have solved one problem — how to make the pie bigger — but replaced it with another — how to make sure that everyone gets a slice. As other economists have noted, solving this problem won’t be easy.

“Today, for most people, their job is their seat at the economic dinner table, and in a world with less work or even without work, it won’t be clear how they get their slice. This is the collective challenge that’s right in front of us — to figure out how this material prosperity generated by our economic system can be enjoyed by everyone in a world in which our traditional mechanism for slicing up the pie, the work that people do, withers away and perhaps disappears.

Guy Standing, another British economist, agrees with Susskind about this larger issue. The following excerpts are from his book The Corruption of Capitalism. He begins by quoting Nobel prizewinning economist Herbert Simon’s 1960 prediction:

“Within the very near future – much less than twenty-five years – we shall have the technical capacity of substituting machines for any and all human functions in organisations.”

And then he makes these comments:

“You do not receive a Nobel Prize for Economics for being right all the time! Simon received his in 1978, when the number of people in jobs was at record levels. It is higher still today. Yet the internet-based technological revolution has reopened age-old visions of machine domination. Some are utopian, such as the post-capitalism of Paul Mason, imagining an era of free information and information sharing. Some are decidedly dystopian, where the robots — or rather their owners — are in control and mass joblessness is coupled with a ‘panopticon’ state[2] subjecting the proles to intrusive surveillance, medicalized therapy and brain control. The pessimists paint a ‘world without work.’ With every technological revolution there is a scare that machines will cause ‘technological unemployment’. This time the Jeremiahs seem a majority.

 “Whether or not they will do so in the future, the technologies have not yet produced mass unemployment… [but they] are contributing to inequality.

“While technology is not necessarily destroyed jobs, it is helping to destroy the old income distribution system.

“The threat is technology-induced inequality, not technological unemployment.”

Economic inequality and income distribution (sharing national wealth on a basis other than individual earned income) are two sides of the issue of economic fairness — always an inflammatory topic.

When I began my study of economics 15 months ago, I had never heard of economic inequality, and income distribution was something socialist countries did. Now I find both topics all over worldwide economic news and commentary and still mostly absent in U.S. public discourse (such as it is) outside of academic circles. On the whole, most policy-makers on both the left and right maintain their allegiance to the post-WWII Mont Pelerin neoliberal economic model, supported by a cultural and moral bias in favor of working for a living, and if the plutocrats take a bigger slice of pie while the welfare rug gets pulled on the working poor, well then so be it. If the new robotic and super-intelligent digital workers do in fact cause massive technological unemployment among the humans, we’ll all be reexamining these beliefs, big time.

Finland flag smaller

I started this series months ago by asking whether money can buy happiness, citing the U.N.’s World Happiness Report. The 2018 Report was issued this week, and who should be on top but… Finland! And guess what — among other things, factors cited include low economic inequality and strong social support systems (i.e., a cultural value for non-job-based income distribution). National wealth was also a key factor, but it alone didn’t buy happiness:  the USA, with far and away the strongest per capita GDP, had an overall ranking of 18th. For more, see this World Economic Forum article or this one from the South China Morning Post.

We’ll be looking further into all of this (and much more) in the weeks to come.

[1] If you’ve been following this blog for awhile and the  name “Susskind” sounds familiar, a couple years ago, I blogged about the future and culture of the law, often citing the work of Richard Susskind, whose opus is pretty much the mother lode of crisp thinking about the law and technology. His equally brilliant son Daniel joined him in a book that also addressed other professions, which that series also considered. (Those blogs were collected in my book Cyborg Lawyers.) Daniel received a doctorate in economics from Oxford University, was a Kennedy Scholar at Harvard, and is now a Fellow in Economics at Balliol College, Oxford. Previously, he worked as a policy adviser in the Prime Minister’s Strategy Unit and as a senior policy adviser in the Cabinet Office.

[2] The panopticon architectural structure was the brainchild of legal philosopher Jeremy Bentham. For an introduction to the origins of his idea and its application to the digital age, see this article in The Guardian.

Brave New (Jobs) World

“The American work environment is rapidly changing.
For better or worse, the days of the conventional full-time job
may be numbered.”

The above quote is from a December 5, 2016 Quartz article that reported the findings of economists Lawrence Katz (Harvard) and Alan Krueger (Princeton, former chairman of the White House Council of Economic Advisers) that 94% of all US jobs created between 2005 to 2015 were temporary, “alternative work” — with the biggest increases coming from freelancers, independent contractors, and contract employees (who work at a business but are paid by an outside firm).

These findings are consistent with what we looked at last time:  how neoliberal economics has eroded institutional support for the conventional notion of working for a living, resulting in a more individuated approach to the job market. Aeon Magazine recently offered an essay on this topic:  The Quitting Economy:  When employees are treated as short-term assets, they reinvent themselves as marketable goods, always ready to quit. Here are some samples:

“In the early 1990s, career advice in the United States changed. A new social philosophy, neoliberalism, was transforming society, including the nature of employment, and career counsellors and business writers had to respond. (Emphasis added.)

“US economic intellectuals raced to implement the ultra-individualist ideals of Friedrich Hayek, Milton Friedman and other members of the Mont Pelerin Society…In doing so… they developed a metaphor – that every person should think of herself as a business, the CEO of Me, Inc. The metaphor took off, and has had profound implications for how workplaces are run, how people understand their jobs, and how they plan careers, which increasingly revolve around quitting.

“The CEO of Me, Inc. is a job-quitter for a good reason – the business world has come to agree with Hayek that market value is the best measure of value. As a consequence, a career means a string of jobs at different companies. So workers respond in kind, thinking about how to shape their career in a world where you can expect so little from employers. In a society where market rules rule, the only way for an employee to know her value is to look for another job and, if she finds one, usually to quit.”

I.e., tooting your own résumé horn is no longer not so much about who you worked for, but what you did while you were there. And once you’re finished, don’t get comfortable, get moving. (This recent Time/Money article offers help for creating your new mobility résumé.)

A couple years ago I blogged here about a new form of law firm entirely staffed by contract attorneys. A quick Google search revealed that the trend toward lawyer “alternative” staffing has been gaining momentum. For example:

This May 26, 2017 Above the Law article reported a robust market for more conventional associate openings and lateral partner hires, but included this caveat:

“The one trend that we see continue to stick is the importance of the personal brand over the law firm brand, and that means that every attorney should really focus on how they differentiate themselves from the pack, regardless of where they hang their shingle.”

Upwork offers “Freelance Lawyer Jobs.” “Looking to hire faster and more affordably?” their website asks. “ Tackle your next Contract Law project with Upwork – the top freelancing website.”

Flexwork offers “Flexible & Telecommuting Attorney Jobs.”

Indeed posts “Remote Contract Attorney Jobs.”

And on it goes. Whether you’re hiring or looking to be hired, you do well to be schooled in the Brave New World of “alternative” jobs. For a further introduction, check out these articles on the “Gig Economy” from Investopedia and McKinsey. For more depth, see:

The Shift:  The Future of Work is Already Here (2011), by Lynda Gratton, Professor of Management Practice at London Business School, where she directs the program “Human Resource Strategy in Transforming Companies.”

Down and Out in the New Economy: How People Find (or Don’t Find) Work Today (2017), by University of Indiana Anthropology Professor LLana Gershon — the author of the Aeon article quoted above.

Next time, we’ll begin looking at three major non-human players in the new job marketplace:  artificial intelligence, big data, and robotics. They’re big, they’re bad, and they’re already elbowing their way into jobs long considered “safe.”