The rise and fall of the professional-managerial class >>>
The new management strategy was to raise profits by single-mindedly reducing labor costs, most directly by simply moving manufacturing offshore to find cheaper labor. Those workers who remained employed in the United States faced a series of initiatives designed to discipline and control them ever more tightly: intensified supervision in the workplace, drug tests to eliminate slackers, and increasingly professionalized efforts to prevent unionization. Cuts in the welfare state also had a disciplining function, making it harder for workers to imagine surviving job loss.
By the time of the financial meltdown and deep recession of the post-2008 period, the pain inflicted by neoliberal policies, both public and corporate, extended well beyond the old industrial working class and into core segments of the PMC. Unemployed and underemployed professional workers—from IT to journalism, academia, and eventually law—became a regular feature of the social landscape. Young people did not lose faith in the value of an education, but they learned quickly that it makes more sense to study finance rather than physics or “communications” rather than literature. The old PMC dream of a society rule by impartial “experts” gave way to the reality of inescapable corporate domination.
Should we mourn the fate of the Professional Managerial Class or rejoice that there is one less smug, self-styled, elite to stand in the way of a more egalitarian future?
but they learned quickly that it makes more sense to study finance rather than physics or “communications”
and that's your fault america - that is how america works, you want to direct the nation? change the incentives- you want engineers? make it more lucrative than the financial sector. you want doctors? make college more affordable. you want problem solvers stop showing the kids they'll get more security from it than miss-behaving on some brain-dead reality show.
it shouldnt be this way but people are what they are