Labour precariousness and make do and mend after redundancy at Anglesey Aluminium: critiquing Human Capital Theory

Tony Dobbins, Alexandra Plows and Huw Lloyd-Williams
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Alexandra Plows: School of Social Sciences, Bangor University
Huw Lloyd-Williams: College of Business, Social Sciences and Law, Bangor University

No 12007, Working Papers from Bangor Business School, Prifysgol Bangor University (Cymru / Wales)

Abstract: This 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.

Keywords: Human Capital Theory; Job Quality; Opportunity Bargain; Precariat; Redundancy; Restructuring. (search for similar items in EconPapers)
Date: 2012-06
New Economics Papers: this item is included in nep-hme, nep-hrm, nep-lab and nep-pke
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