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Financialization and the workplace: extending and applying the disconnected capitalism thesis

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  • Paul Thompson

Abstract

The global financial crisis has brought discussion of financialization to the fore. Yet, what is notable is the extent to which the dysfunctional micro-economic consequences of financialization at firm level have gone largely unremarked and unchanged. By revisiting and renewing the disconnected capitalism thesis, this article seeks to rectify the omission of a focus on financialization and the workplace and develops a complex and nuanced bigger picture that explores in some detail changes in accumulation, corporate, work and employment domains. The dual objective is thus to understand the dynamics and drivers of such changes and to identify the extent to which financialization has shaped them. In identifying patterns of connection and disconnection across and within domains, a recurrent theme concerns financialization interacting with, accelerating and exacerbating longer term trends such as labour market insecurity, externalization and internationalization.

Suggested Citation

  • Paul Thompson, 2013. "Financialization and the workplace: extending and applying the disconnected capitalism thesis," Work, Employment & Society, British Sociological Association, vol. 27(3), pages 472-488, June.
    • Handle: RePEc:sae:woemps:v:27:y:2013:i:3:p:472-488
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    Citations

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    Cited by:

    1. Ian Clark, 2016. "Financialisation, ownership and employee interests under private equity at the AA, part two," Industrial Relations Journal, Wiley Blackwell, vol. 47(3), pages 238-252, May.
    2. Chris Warhurst & Wil Hunt, 2019. "The Digitalisation of Future Work and Employment. Possible impact and policy responses," JRC Working Papers on Labour, Education and Technology 2019-05, Joint Research Centre.
    3. Stephen Mustchin, 2017. "Public sector restructuring and the re-regulation of industrial relations: the three-decade project of privatisation, liberalisation and marketisation in Royal Mail," Industrial Relations Journal, Wiley Blackwell, vol. 48(4), pages 294-309, July.
    4. Costas Lapavitsas & Ivan Mendieta-Muñoz, 2017. "Financialisation at a Watershed in the USA JEL Classification: B50, E10, E44, G20," Working Paper Series, Department of Economics, University of Utah 2017_10, University of Utah, Department of Economics.
    5. Gary Slater, 2015. "The Oxford Handbook of Employment Relations: Comparative Employment Systems edited by Adrian Wilkinson , Geoffrey Wood and Richard Deeg (eds) Oxford University Press , Oxford , 2014 , 762 pp., ISBN 97," Industrial Relations Journal, Wiley Blackwell, vol. 46(3), pages 254-257, May.
    6. Leo McCann, 2014. "Disconnected Amid the Networks and Chains: Employee Detachment from Company and Union after Offshoring," British Journal of Industrial Relations, London School of Economics, vol. 52(2), pages 237-260, June.
    7. Kristen Lucas, 2015. "Workplace Dignity: Communicating Inherent, Earned, and Remediated Dignity," Journal of Management Studies, Wiley Blackwell, vol. 52(5), pages 621-646, July.
    8. Tony Dobbins & Alexandra Plows, 2014. "Regional Economic Transition in Wales: The Role of Labour Market Intermediaries," Working Papers 14005, Bangor Business School, Prifysgol Bangor University (Cymru / Wales).
    9. Laetitia Legalais, 2015. "L'Influence D'Un Blocage De Carriere Sur La Construction De L'Identite Professionnelle : Le Cas Des Contrôleurs De Gestion," Post-Print hal-01188764, HAL.
    10. Ross Brown & Ronald McQuaid & Robert Raeside & Matthew Dutton & Valerie Egdell & Jesus Canduela, 2019. "Buying into Capitalism? Employee Ownership in a Disconnected Era," British Journal of Industrial Relations, London School of Economics, vol. 57(1), pages 62-85, March.

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