'the servant economy'.

Just as the world celebrates  a Presidential Victory I came across this . Important read.

That leaves young people today, as economist Jeff Faux points out in his new book The Servant Economy: Where America’s Elite is Sending the Middle Class, with a stark choice.

Young people can become engineers and programmers and spend their careers in “pitiless competition with people all over the world” just as smart and trained but “willing to work for much less.” Or they can join the servant economy and “service those few at the top who have successfully joined the global elite.”

In this new “servant economy,” we’re not talking just nannies and chauffeurs. We’re talking, as journalist Camilla Long notes, “pilots, publicists, art dealers, and bodyguards” — a “newer, brighter phalanx of personal helpers.”

http://www.alternet.org/our-future-going-be-keeping-rich-people-happy-servant-economy?paging=off

Americans are in denial. Voters tell pollsters that while America may be in trouble, they and their kids will somehow be okay. Jeff Faux’s provocative new book explains why

they will not.  For three decades before the financial crash of 2008, real wages for most Americans were stagnant. But they could maintain their living standards by borrowing.

That cushion is now deflated. The U.S. can no longer fulfill the dreams 0f Wall Street, the Pentagon, and the Middle Class. At least one dream must die. Despite partisan differences, both political parties have agreed to sacrifice the people. An economic recovery will eventually create more jobs, predicts Faux, but most will no longer pay a middle class salary. On our present track, real incomes by 2024 will be dramatically lower than they are today.

 Our much-touted service economy will become a “servant” economy. Debt-laden 20-something college graduates will become 30- and 40-somethings, still juggling dead-end jobs. 

Personal dignity will go the way of decent pay. Life at work for most Americans will return to what it was before the New Deal – insecure, underpaid and subject to the daily humiliations of an economy managed to benefit of the rich and powerful.

http://jefffaux.com/?page_id=299