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 ofestablished career trajectories in many working environments. These trendshave not only intensified the recent spike in unemployment but have alsounderpinned the notable growth of social inequality in the United States and the UK over the past two decades.