Labour precariousness and make do and mend after redundancy at Anglesey Aluminium: critiquing Human Capital Theory
AbstractThis paper tracks workers experiences of and responses to redundancy, and the impact on the local labour market, following the closure of a large employer, Anglesey Aluminium (AA), on Anglesey in North Wales. We draw on these findings to produce a critical challenge to Human Capital Theory (HCT) and its influence on sustaining neo-liberal policy orthodoxy with its focus on supplying skilled and employable workers in isolation from other necessary ingredients in the policy recipe. We conclude that HCT and associated policy orthodoxy has contributed to market failure. Ex-AA workers faced a paradox of being overqualified but underemployed. Some workers re-skilled but there were insufficient (quality) job opportunities commensurate with the employment they had left. In picking up the pieces following redundancy, many workers found themselves part of an expanding labour precariat with little choice but to make do and mend.
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Bibliographic InfoPaper provided by Bangor Business School, Prifysgol Bangor University (Cymru / Wales) in its series Working Papers with number 12007.
Date of creation: Jun 2012
Date of revision:
Human Capital Theory; Job Quality; Opportunity Bargain; Precariat; Redundancy; Restructuring.;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-09-16 (All new papers)
- NEP-HME-2012-09-16 (Heterodox Microeconomics)
- NEP-HRM-2012-09-16 (Human Capital & Human Resource Management)
- NEP-LAB-2012-09-16 (Labour Economics)
- NEP-PKE-2012-09-16 (Post Keynesian Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ewart Keep & Ken Mayhew, 2010. "Moving beyond skills as a social and economic panacea," Work, Employment & Society, British Sociological Association, vol. 24(3), pages 565-577, September.
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