Precarity - An Introduction

Certain events from the past several weeks have provoked me to think about a topic which I have not studied in depth up to this time.  Those events are largely focused on the collapse of the cryptocurrency bubble last year and the corresponding destruction of the "investments" many poorer people made in "crypto" in order to increase their wealth.  (See "FTX Crypto Crash Threatens Life Savings of Working People", Truthout, November 2022, and "The Cryptocurrency Crash Is Replaying 2008 as Absurdly as Possible", Foreign Policy, May 2022.)  The collapse of economic bubbles in capitalist societies is a worthy topic of consideration in its own right  But my interest now lies in the motives and vulnerabilities of the ordinary people who were led to invest in "crypto" in the first place.  Their choice to invest was one of several coping mechanisms which they employed in order to try to deal with their social and economic situation.  That situation can be described by a single word: precarity.

Precarity is defined by the Cambridge Dictionary as "the state of being uncertain or likely to get worse," and, "a situation in which someone's job or career is always in danger of being lost."  The Journal of Cultural Anthropology describes precarity as ". . . an emerging abandonment that pushes us away from a livable life . . . [It is] the politically induced condition in which certain populations suffer from failing social and economic networks . . . becoming differentially exposed to injury, violence, and death."  The University of Georgia has an article on its "Neoliberalism Guide for Educators" webpage which describes precarity in concrete human terms, starting with the questions "Have you ever or do you currently live paycheck to paycheck?  Do you work 40 hours a week or more and still can't afford rent?"  We who live in the United States may be tempted to look on precarity solely in its American-style manifestations of inequality such as racism and the effects of tycoon capitalism, neoliberalism, privatization, and the destruction of social safety nets.  But precarity is a global phenomenon which can be seen even in ethnically homogeneous societies, as described by Hao Jingfang's "near science fiction" novelette titled, Folding Beijing.  (You can listen to an audio recording of her story at StarShipSofa.)  Precarity naturally arises whenever the people at the top of a society concentrate nearly all of the wealth of that society in the hands of a chosen few, thus creating a massive underclass out of the many who are not of the chosen few.  Those many become the precariat.

It is quite natural to assume that the precariat consist primarily of those historically marginalized populations without access to higher education, whose historical economic and social standing has condemned them to a blue-collar or manual labor or McJob sort of existence.  But while this is true, it is also true than an increasing number of white-collar, college-educated workers have found themselves forced into the precariat due to the destruction of long-standing arrangements between corporate masters and skilled professional labor.  For a recent example of this, consider the large number of lawyers who were laid off in 2022.  This progression of precarity among white-collar workers has been taking place for at least three decades.  (Four decades actually, if one counts the day that former President Ronald Reagan fired all of the air traffic controllers who were part of the U.S. Federal Aviation Administration staff.)

Precarity is quite naturally a highly uncomfortable way of life.  This discomfort - frequently amounting to great pain and distress - quite naturally provokes a search for coping mechanisms from the people who comprise the precariat.  The usual suspects among coping mechanisms include things like the abuse of alcohol, opioids, and other drugs, or drowning oneself in other passive entertainments.  But my focus is on those more active attempts to cope which members of the precariat employ in trying to transform their situation.  So I am planning to write a series of posts on precarity, on the precariat, and on the attempts by members of the precariat to transform their situation.  A tentative outline of that series is as follows:

1. The Precariat - An Overview (This has been partly covered in today's post.)
2. My own experience of precarity
• As a teen
• As a college student
• Surprising encounters in the white-collar world
3. Origins and Spread of the Precariat
• The Link Between the Origins of Precarity and the Rise of Neoliberal (that is, radical libertarian free-market) capitalism
4. The Composition and Location of the Precariat
• Its global nature
• Its local expressions
5. The Coping Mechanisms of the Precariat
• What Doesn't Work
• Unwise "Side Hustles"
• The False Promises of Bubbles
• The Role of the "Advice" (Motivational Speaking) Industry and "Influencer" Culture
• Political Dead-Ends
• What Does (or May) Work
6. The Precariat And the Great Resignation
7. Future Directions Of The Precariat
• As Passive Victims of Forces Outside Themselves
• As Active and Activized Agents Who Take Charge Of Their Own Future
• The Potential for Such Action
• The Possible Constraints Preventing Such Action
• The Precariat in "Babylon"

Each major heading in this list will be covered in a separate blog post.  Each major heading will also require some research in order to do it justice.  But fortunately, the extreme busyness which characterized my life during most of 2022 seems to be easing up.  (I have rediscovered the fact that sleeping, for instance, is delicious!  And I look forward to chillin' with my guitar in my backyard when the weather warms up . . . )  The time taken in researching each of these topics will be time well-spent, and hopefully it will prove useful to the readers of this blog, as I believe that an increasing number of us will be forced to deal with precarity (or even be swept involuntarily into the precariat) in the days to come.