Turbo-Capitalism: The New Age of Capitalism - Episode 7

Governments are often ready to close down sectors of their economies which they believe are inefficient, like coal mining, and keen to promote more efficient high tech companies. Back in 2000, author and government adviser Edward Luttwak coined the term Turbo Capitalism to describe how governments are enabling the destruction of well paid "dignified" jobs and replacing them with poorly paid low status occupations. These new roles may appear to be part of a more efficient system, but are, he argues, actually more damaging to society as a whole. He is joined by author James Bloodworth, who described the six months he spent working undercover in a variety of poorly paid positions in "Hired".