Management , society and new forms of work Essay

Management , society and new forms of work - Essay Example As such, Marazzi divided his thoughts on the subject of capital and language in four chapters: the transformation of economy from Post-Fordism to the New Economy, an account of the dot-com crash in 2001, the monetization of surplus value and the current trends, or the War Economy, in the business cycle as economic crisis continues to generate havoc throughout the global economies. The changes in working practices and patterns through the transition from Post-Fordism to the New Economy arose in the late 1980s and were fully established with the flourish of dot.com companies of the 1990s. The period of the dot-com bubble or the Information technology Bubble was marked by the formation of new Internet-based companies that maximized the use of steady commercial growth of the Internet. Several companies invested in ______________________ 1Haiven, M. 2009. In-Credible Wealth and Panic in the â€Å"New Economy†. Criticism. 51 (1): 165. using the e-prefix which increased the confidenc e of stock prices and future profits. Unfortunately, the bubble collapsed in early 2000s as large portion of market capitalization of numerous companies failed or declined dramatically2. With Post-Fordism being agreed as the transformation of the nature of work, the New Economy settles on the importance of finance specifically on the stock market. Marazzi relates work and finance through language by stating, †¦in the New Economy language and communication are structurally and contemporaneously present throughout both the sphere of the production and distribution of goods and services and the sphere of finance, and that it is for this very reason that changes in the world of work and modifications in the financial markets must be seen as two sides of the same coin3. Post-Fordism produces numerous goods and services that are set to the diversification of commercialized values and way of life. However, the centrality of communications and information technology in the United State s and other Western countries has delivered a new breed of expensive managers and technicians. Increased worker participation and elastic work schedules are applied in production to maximize efficiency and flexibility while eroding job security through the employment of contract and outsourced labour4. Finance was first examined by the author, from its beginnings to the concerns of the ______________________ 2Lowenstein, R. 2004. Origins of the Crash: The Great Bubble and its Undoing. Penguin Books. p. 114. 3Marazzi, C. 2008. Capital & Language: From New Economy to War Economy. Semiotext(e). p. 14. 4Holland, J. 2005. Fordism/Post-Fordism. Globalization & Autonomy Glossary. p. 2. http://globalautonomy.ca/global1/servlet/Glossarypdf?id=CO.0021 (Accessed November 9, 2012). financialisation of the economy. He noted that if savings had been focused in household economies before, the New Economy has shifted this habit into using the collective savings and pension schemes of individuals as investments for their financial future. In the past, labour was affected by economic crises through the loss of jobs and the cutback of public spending. However, labour is now directly invested in the performance capital making contemporary financial crises different from past ones. Hence,