Traditional Paid Work Is Discredited Daily By Our Ongoing Debt And Housing Crises
- May 3, 2023
- 2 min read
Updated: Aug 5, 2024
Written by: Narghiza Ergashoval, CPA, EMBA, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
The modern world is a place of working, or rather slaving, people. In the middle of the twenty-first century, our paid job has become more than just an occupation – it's also what makes us Coptic Christians, American Hindus, and proud Australians: masters at birthright socioeconomic privilege and households in denial who can no longer afford to live comfortably on their wages. After all, our efforts quadrupled while our average wages have stagnated for half a century now.
What does the future of paid work look like? In a world where education is, or should I say used to be, seen as central to social mobility and self-worth, more and more graduates are now employed in nongraduate roles. This has been especially true for young people growing up after decreased access or belief systems about how their jobs can provide them with any sort of security, satisfaction, or advancement opportunities within society at large.
If in the past, work was often associated with an office job or factory labor, today more and more people are doing freelance projects on their own time and terms. These individuals perform very different types of creative activities such as self-care through freelancing while others focus solely on commercial services like design consulting which offers much higher pay rates than most traditional jobs do.
Research shows that independent workers seem to be more emotionally resilient than typical employees, but they also feel their work is more meaningful. Though “The lows are much lower; the highs come higher," says the study author Wrzesniewski.
In response to the "lows" of the gig economy a new marketplace is emerging. Tech investors have dubbed this new economic model, where anyone with passion could profit by doing what they love while keeping their day job, the 'passion economy,' or "The Hustle Economy".
The “Hustle Economy” is a digital labor market in which platform-dependent workers create and monetize their own products. "Hustle Economy" remains largely unregulated with consumers often paying the price for compromised quality.
Narghiza Ergashoval, CPA, EMBA, Executive Contributor Brainz Magazine
Experienced finance executive with significant achievements in property, mining, resources, chemicals, manufacturing, infrastructure, construction, and engineering. Demonstrated ability to manage sophisticated portfolios and drive targeted performance through business partnerships. Strong negotiator focused on achieving win-win outcomes and expertise in building effective relationships with stakeholders. Personable, articulate, and highly motivated individual with a keen focus on achieving broader business objectives
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