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Uberisation and the dangers of neo-serfdom – FT.com

There are two paths this new economy might take. One, more widely covered, is Darwinian. People at all ends of the socio-economic spectrum become Uberised, as both blue- and white-collar jobs are handed out piecemeal to the lowest bidder. Already, eastern European designers and Indian radiologists are undercutting their full-time peers in more developed countries […]

There are two paths this new economy might take. One, more widely covered, is Darwinian. People at all ends of the socio-economic spectrum become Uberised, as both blue- and white-collar jobs are handed out piecemeal to the lowest bidder. Already, eastern European designers and Indian radiologists are undercutting their full-time peers in more developed countries this way. The labour markets start to resemble, as Adair Turner, chairman of the New York-based Institute for New Economic Thinking once put it to me, “a feudal marketplace in which the lord shows up each day and says, ‘I’ll take you, and you, and you’.” The labour share of the pie, which has been shrinking across the developed world for the past four decades, continues to decrease. Stagnant growth and polarised politics continue.

Source: Uberisation and the dangers of neo-serfdom – FT.com

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