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Eisold, K. (2020). Working with the Nine Percent: The “Meritocracy” of Financialized Capitalism. Int. J. Appl. Psychoanal. Stud., 17(1):65-76.

(2020). International Journal of Applied Psychoanalytic Studies, 17(1):65-76

Working with the Nine Percent: The “Meritocracy” of Financialized Capitalism

Kenneth Eisold

A new class, often referred to as a “meritocracy,” has arisen to manage the businesses, financial institutions, government agencies and think tanks that protect and enlarge the sway of the “one percent” that constitute the oligarchy, those at the top of our society enjoying a disproportionate share of our wealth. Working with those “nine percent,” whose wealth accumulates from compensation rather than investment, allows us to see the volatility and insecurity that characterize their work lives, as the reward of wealth substitutes for stability and satisfaction from work they once more traditionally enjoyed. This paper gives examples from their work experience, going on to explore some of the consequences for the organizations in which they work as well as for society as a whole.

[This is a summary excerpt from the full text of the journal article. The full text of the document is available to journal subscribers on the publisher's website here.]

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