The Culture of the New Capitalism (Castle Lecture Series in Ethics, Politics & Economics) Book

A provocative and disturbing look at the ways new economic facts are shaping our personal and social values.   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 “specter of uselessness” haunts professionals as well as manual workers; how the boundary between consumption and politics is dissolving.   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 that Max Weber once called an “iron cage.” 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. Sennett examines a more durable form of selfhood, and what practical initiatives could counter the pernicious effects of “reform.”

In this provocative book, Richard Sennett looks at the ways today's global, ever-mutable form of capitalism is affecting our lives. He analyzes how changes in work ethic, in our attitudes toward merit and talent, and in public and private institutions have all contributed to what he terms 'the spectre of uselessness', and he concludes with suggestions to counter this disturbing new culture.