Being Virtual: Character and the New Economy

Given the changes wrought by the new economy, it makes sense for companies to pursue ever-greater levels of flexibility. But does it make sense for human beings? Do we really want to be free agents, hopping from job to job and from city to city, virtual employees of virtual companies? Richard Sennett doesn't think so. In The Corrosion of Character: The Personal Consequences of Work in the New Capitalism, Sennett, a sociologist and well-known social critic, lays out a dark vision of what the new economy means for working people at all levels of society. He draws on poignant stories to show how the flexibility demanded by the new economy causes us to lose the attachments--to people, places, or companies--that form our character. Without such attachments, we lose the ability to focus on the long term: if everything's going to change overnight, why worry about tomorrow? In the aggregate, the demands of flexibility erode society's foundations. But as Nicholas Carr points out, this isn't a complete picture of what flexibility means for people today. For example, the spread of cheap computers is expanding opportunities to launch, market, and manage microbusinesses. And the networked economy--by making workdays more flexible and location less important--will give many of us more control over where we live and how we parcel out our time. Despite Sennett's blindness to the benefits offered by the new economy, his book provides a thoughtful counterbalance to the empty-headed boosterism that characterizes much of the current writing on the subject.

• Exchange rates
• Career planning
• Digital transformation
• Online communities
• Flex time