Richard Sennett's lecture explores long-standing and problematic developments in the labour markets of the Anglo-American world that have been exacerbated in the recent dramatic economic downturn. He pays particular attention to a lack of investment in large parts workforce, a phenomenon that reflects a devaluation of both traditional skills and of established career trajectories in many working environments. These trends have not only intensified the recent spike in unemployment but have also underpinned the notable growth of social inequality in the United States and the UK over the past two decades.