Uploaded December 2022 | Updated September 2026, 2 weeks ago
The current ways of life and our economic systems are unsustainable. We are in an environmental and societal crisis which can be exemplified by the destruction of natural environments for economic growth (just think of the depletion of sea sand for construction). Current structures and institutions don’t seem to have enough power for change (the recent COP 27 failure to deliver noteworthy results being one example). According to professor and labour economist Guy Standing, it is built on structural capitalism dominated by global finance which aims to maximise short-term profits. Especially problematic is that a certain group of people is fundamentally affected by the system and left with few options. This makes it hard or nearly impossible for this group to define and build their identity, especially their professional identity as they rely on insecure and temporary low-skilled jobs. This group also lives on the edge of unsustainable debts. In the UK alone, there are over 3 000 food banks and hygiene banks – this ought to be a dystopian version and not occur in a modern economy.
The current ways of life and our economic systems are unsustainable. We are in an environmental and societal crisis which can be exemplified by the destruction of natural environments for economic growth (just think of the depletion of sea sand for construction). Current structures and institutions don’t seem to have enough power for change (the recent COP 27 failure to deliver noteworthy results being one example). According to professor and labour economist Guy Standing, it is built on structural capitalism dominated by global finance which aims to maximise short-term profits. Especially problematic is that a certain group of people is fundamentally affected by the system and left with few options. This makes it hard or nearly impossible for this group to define and build their identity, especially their professional identity as they rely on insecure and temporary low-skilled jobs. This group also lives on the edge of unsustainable debts. In the UK alone, there are over 3 000 food banks and hygiene banks – this ought to be a dystopian version and not occur in a modern economy.
