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The Culture of the New Capitalism

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Richard Sennett|
Yale University Press (March 2006)

The distinguished sociologist Richard Sennett surveys major differences between earlier forms of industrial capitalism and the more global, more febrile, ever more mutable version of capitalism that is taking its place. He shows how these changes affect everyday life - how the work ethic is changing; how new beliefs about merit and talent displace old values of craftsmanship and achievement; how what Sennett calls 'the spectre of uselessness' haunts professionals as well as manual workers; how the boundary between consumption and politics is dissolving. 

In recent years, reformers of both private and public institutions have preached that flexible, global corporations provide a model of freedom for individuals, unlike the experience of fixed and static bureaucracies Max Weber once called an 'iron cage'. Richard Sennett argues that, in banishing old ills, the new-economy model has created new social and emotional traumas. Only a certain kind of human being can prosper in unstable, fragmentary institutions: the culture of the new capitalism demands an ideal self oriented to the short term, focused on potential ability rather than accomplishment, willing to discount or abandon past experience. 

In a concluding section, Richard Sennett, examines a more durable form of self hood, and what practical initiatives could counter the pernicious effects of 'reform'. 

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Press cuttings

You're 35 and experienced. Let's face it, you're useless (12 March 06)
Richard Sennett's book The Culture of the New Capitalism is mentioned with regard to the trend of modern capitalism to put more emphasis on flexibility rather than experience for most workers.

Financial Times
Middle-aged, middle-class, stranded by the 'new country' (7 March 06)
Richard Sennett of the LSE and author of The Culture of the New Capitalism, comments on the challenges posed to the middle-class in Britain by the new trends in domestic and global economy.