10 Aug 2022

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A Chronicle of Crisis: The Financial Times and the Making of the Modern World

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Academic level: College

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Zygmunt Bauman has written in his books on how the “solid” structures of the 20 th century have led to “liquid modernity” and a consumer-based and insecure society. An example on how the structure has had an impact on a consumption-based society is found in his book, “Work, Consumerism and the New Poor," Zygmunt Bauman describes that the poor in the production-based society suffer severely if they do not live in solidarity with others. He asserts that being a consumer and similarly poor would be tragic making the persons who are poor unnecessary in the society. Another example is in his repository where he alludes that, as the “liquid modernity” processes get dissolved through the citizenship ideas; many individuals are left managing their consumption concerns to find better solutions towards their societal problems, then sociology plays a vital role in shared issues (Campbell, Davis & Palmer, 2018). However, he states that every individual will grab the commonly shared values as the ideas of democracy and equality would not be met. Hence, “liquid modernity” might not be comprehended. Zygmunt Bauman terms the consumer freedom as another form of power that is triggered from the factory setting due to the “solid” 20 th century structures. He adds that constant surveillance is required because the demographic expansion saw many become economically redundant due to the stigmatization caused by the values and the societal norms of the production modes that has existed. Zygmunt Bauman concludes the main point of consumerism that many have been made consumers and denied the producer-role subjections. The consumerism turned into oppression and access to their freedom. Zygmunt Bauman wants to know about the role of labor if what they do is pegged on consumption other than production. 

The other way Zygmunt Bauman has put it about the arguments of the “solid” structures based on production motives and security of the 20 th century concerns security and insecurity issues. As depicted in his other article, "A Chronicle of Crisis," Zygmunt Bauman asserts that there are two worlds. An example is the US where there are children who get quality education and medical care, while others are marred by insecurity with the worst education and mediocre healthcare. Another example concerns the British and the US setting up funds to cater to their families regardless of their geographical location as long as they can get away from the poor in their midst. Additionally, Zygmunt Bauman alludes that the poor have settlements in places that lack social security and employment benefits. The insecure places are in the rural areas having daywork while the rich have adjusted monthly earnings streaming from their wealth. Also, there are instances that the security costs have heightened as a result of the “solid” structures of the 20 th century. He adds that the permanence in the security levels in loan acquisition has to be attached to some collateral that the poor lack. Also, there are cases of insecurity created as youngsters lack the funds to let them have a better education. Another security case raised through the “solid” structures created is attached to politics. The political leaders feel themselves insecure in the midst of people and thereby come up with their securitizations. The society is ridden on pride through politicians who make the labor markets to be deregulated. The result is social instability and positions’ fragility. Hence, the above two points have been restated in essay form. 

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My personal experience on the two main points 

First on the “solid” structures of the 20 th century creating “liquid modernity”, consumer-based society, it is true I have lived it. Before my parents had a financial breakthrough to start on production activities, we had lived hand-to-mouth such that we were regarded as inferior. Finally, we came up from the consumer-based to now production-based family up to now. Secondly, on the “solid” structures of the 20 th century due to permanence and security creating an “unknown gratification, credit and insecurity”- it is right from my side that people are different- the rich and the poor. My parents had often had issues with the financial institutions when having access to credit. They had no collateral in the past, so we fell into severe financial crisis. It happens to every person who needs loan and has no security attached. With my current life, I have had social security and had a quality education. On political security, it is correct politicians create their security due to insecurity from the people around them. 

References 

Campbell, T., Davis, M., & Palmer, J. (2018). Hidden Paths in Zygmunt Bauman’s Sociology: Editorial Introduction. Theory, Culture & Society, 0263276418767568. 

https://drive.google.com/file/d/1Es611dx3L1KGsKfKxXeV8f91wYRWoH92/view 

https://drive.google.com/file/d/1F8Dqxe4iP4yt_pC9Th--8ruyNzlfLgO1/view 

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StudyBounty. (2023, September 14). A Chronicle of Crisis: The Financial Times and the Making of the Modern World .
https://studybounty.com/a-chronicle-of-crisis-the-financial-times-and-the-making-of-the-modern-world-essay

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