The fastest growing occupations are not in creative and knowledge work, but in low paid communicative labour: data input, admin, face-to-face services in health, education and care. Half the population share just 6 per cent of UK wealth, owning assets of £600 or less. In stark contrast to this low wage, low skill workforce is the new, high net worth market of very rich individuals. The Institute of Fiscal Studies has identifi ed the top 1 per cent of individuals – 470,000 people – who earn an average annual income of £220,000 and between them own approximately 25 per cent of marketable wealth. Within this group wealth is unevenly distributed, with the top 0.1 per cent earning an average of £780,000.5.
This is a quote from an essay, The Culture Of Capitalism, by Jonathan Rutherford, from the journal, Soundings.
It is one of the most amazingly accurate and penetrating descriptions of our contemporary Neoliberal world I’ve ever read. Faced with analytical political writing of this quality, I feel like Wayne and Garth when they met Alice Cooper…..”We are not worthy, we are not worthy”. Take a look here.