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the precariat by guy standing In his 1944 classic The Great Transfor mation, political economist Karl Polanyi described the social upheaval that accom- panied the rise of a national market system. According to Polanyi, in order to make way for market rationality, mechanisms of collective reciprocity had to be dismantled: the economy had to be dis-embedded from society. This led to chronic inequality and insecurity. To overcome the consequent threat to civilization, the state had to re-embed the economy through new systems of regulation, social protection and redistribution. Since the 1980s, a global transfor- mation has been unfolding in a manner analogous to the dis-embedded phase of Polanyi's Great Transformation. The construction of a global market system is a painful process and has given rise FUTURE to a global class structure that is quite unlike what prevailed for most of the twentieth century. We can now talk of a plutocracy or oligarchy striding the world with their billions-global citizens without responsibilities to any nation state. They are the top 0.001 percent. Next is a larger elite that possesses millions. Below them on the income scale the old salaried class has splintered into two DENIED DENIED DIED groups: the salariat, with strong employ- ment security and an array of non-wage forms of remuneration, and a small but rapidly growing group of proticians. The latter, which includes small-scale businesses, consists of workers who are project-oriented, entrepreneurial, multi- The defining conditions of the precariat produce a general consciousness of relative deprivation and a combination of anxiety, anomie, alienation and anger. skilled, and likely to suffer from burn-out sooner or later. Traditionally, the next income group down has been the proletariat, but old notions of a mass working class are out- dated, since there is no common situation among workers. The earlier norm of this diminishing male-dominated class was a lifetime of stable full-time labor, in which a range of entitlements called "labor rights" was built up alongside negotiated wages. As the proletariat shrinks, a new class is evolving the precariat. who are the precariat? One defining characteristic of the precariat is distinctive relations of produc tion: so-called "flexible" labor contracts, temporary jobs; labor as casuals, part- timers, or intermittently for labor brokers or employment agencies. But conditions of unstable labor are part of the defini- tion, not the full picture. More crucially, those in the precar- iat have no secure occupational identity; no occupational narrative they can give to their lives. And they find they have to do a lot of work-for-labor relative to labor, such as work preparation that does not count as work and that is not remu- nerated, they have to retrain constantly, network, apply for new jobs, and fill out forms of one sort or another. They are exploited outside the workplace as well as in it, and outside paid hours as well as in them. This is also the first working class in history that, as a norm, is expected to have a level of education that is greater than the labor they are expected to perform or expect to obtain. This is the source of intense status frustration. Few in the precariat use their full educational qualifications in the jobs they have. Another characteristic of the precar iat is distinctive relations of distribution. They must rely largely on money wages, without non-wage benefits, such as pensions, paid holidays, retrenchment benefits and medical coverage. The precariat has lost those forms of remuner- ation and has no prospect of regaining