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Showing posts with the label "shareholders"
Sociologists Pierre Bourdieu and Loic Wacquant launched a  2001 protest against what they called “a strange Newspeak,”  or “NewLiberalSpeak” that included words like “globalization,” “governance,” “employability,” “underclass,” “communitarianism,” “multiculturalism” and “their so-called postmodern cousins.” Bourdieu and Wacquant argued that this discourse obscures “the terms ‘capitalism,’ ‘class,’ ‘exploitation,’ ‘domination,’ and ‘inequality,’” as part of a “neoliberal revolution,” that intends to “remake the world by sweeping away the social and economic conquests of a century of social struggles. This is a society characterized by the deliberate dismantling of the social state and the correlative hypertrophy of the penal state, the crushing of trade unions and the dictatorship of the ʻshareholder-valueʼ conception of the firm, and their sociological effects: the generalization of precarious wage labour and social insecurity, turned into the privileged engine of economic activity.