The Great Hunkering Down: Unpacking the Structural Drivers of Labor Market Stagnation
Original framing: “Welcome to the Great Hunkering Down” — Financial Times
The Great Hunkering Down is part of a larger historical pattern of labor market stagnation, dating back to the 1970s and 1980s. This period saw the rise of neoliberal policies and the decline of labor unions, leading to a shift towards more precarious and insecure forms of employment. By examining this historical context, we can better understand the structural drivers of labor market stagnation and the ways in which they have been perpetuated over time.
The Great Hunkering Down is a complex phenomenon that reflects a deeper structural issue in the labor market.
By examining the systemic causes of labor market stagnation, we can gain a deeper understanding of the ways in which it affects individuals and communities. The solution to this problem lies in the development of new models of work and employment that prioritize job security, social relationships, and community engagement. This may involve the creation of new forms of cooperative ownership and worker-led enterprises, as well as the development of policies that support precarious workers and promote greater social and economic equality. By centering the voices and perspectives of marginalized groups and examining the historical and cross-cultural context of labor market stagnation, we can develop more effective solutions to this problem and create a more just and equitable society.