The Death of Homo Economicus : Work, Debt and the Myth of Endless Accumulation

In today's workplaces we work harder and longer, labouring under the illusion that this will bring us more wealth. As this myth becomes increasingly preposterous, it's time to understand why we believe in it, and where it came from. The Death of Homo Economicus explores the origin of this oppressive myth, in order to destroy it. The story begins with the creation of a fake persona labelled the 'dollar-hunting man', invented by economists Adam Smith and Friedrich Hayek. Today, this persona, driven by competition and ego, is used by politicians and managers to draw a veil over the terrible reality of work under capitalism. Creeping into all aspects of life, the desire to constantly compete and accumulate must be resisted if we are to create a better way of life for all. "For neoclassical economists, Homo economicus, or economic human, represents the ideal employee: an energetic worker bee that is a rational yet competitive decision-maker. Alternatively, one could view the concept as a cold and selfish workaholic endlessly seeking the accumulation of money and advancement -- a chilling representation of capitalism. Or perhaps, as Peter Fleming argues, Homo economicus does not actually exist at all. In The Death of Homo Economicus, Fleming presents this controversial claim with the same fierce logic and perception that launched his Guardian column into popularity. Fleming argues that as an invented model of a human being, Homo economicus is, in reality, a tool used by economists and capitalists to manage our social world through the state, business, and even family. As workers, we are barraged with constant reminders that we should always strive toward this ideal persona. It's implied -- and sometimes directly stated -- that if we don't then we are failures. Ironically, the people most often encouraged to emulate this model are those most predisposed to fail due to their socioeconomic circumstances: the poor, the unemployed, students, and prisoners. Fleming illuminates why a peculiar proactive negativity now marks everyday life in capitalist societies, and he explores how this warped, unattainable model for workers would cause chaos if enacted to the letter. Timely and revelatory, The Death of Homo Economicus offers a sharp, scathing critique of who we are supposed to be in the workplace and beyond"--Provided by publisher Cover 1 Contents 6 Introduction: Welcome to the New Dark Ages 8 1. Cash Psychosis 17 2. Wreckage Economics 47 3. Why Homo Economicus had to Die... Over and Over Again 94 4. The Theatre of Loss ... Work 137 5. Microeconomics (really is) for Dummies 179 6. The Quiet Earth 222 Conclusion: A Marginal Model of Nothingness 263 Notes 276 Index 316 A sharp analysis of the nature of work under late capitalism, revealing the dark side of aspiration and utility