The Stock Market, Inflation & the Crypto Crash w/ Mike Swanson/The Trouble With Passion: How Searching for Fulfillment at Work Fosters Inequality w/ Eric Cech
On this edition of Parallax Views, Michael Swanson of Wall Street Window returns to the program for a segment covering the bear market (declining market), the crypto currency crash, and inflation. We also tackle the RobinHood app, cult-like hucksters in the stock market world, crazy speculation and risky behavior in the stock market, the impact on both regular people engaging in small-trading and professional investors, the potentially explosive violent social phenomena that can arise from crashes, the dot com bubble of the 90s, Facebook's rebranding as Meta after getting negative publicity, bitcoin maximalism, and much, much more.
In the second segment of the show, sociologist Eric A. Cech joins us to discuss her thoughtful, provocative book The Trouble With Passion: How Searching for Fulfillment at Work Fosters Inequality. We are often told to "follow our passions" when it comes to seeking out a career. Cech, however, argues that the "Passion Principle" has a dark side in which people are willing to suffer injustices and inequities as a price for following their passion. We discuss the reproduction of inequality and how it reproduces in ways we may not often consider at first, the Meritocratic ideology, Erin's story of being a former "passion evangelist" and how she came to question her beliefs, defining ourselves based on our work rather than any other areas of life, her interviews with college students for the book, Erin's analysis of career-advice books, self-expression in the language of the "Passion Principle"; the growth of precarity in the white-collar work force; neoliberalism; Choicewashing and how the "Passion Principle" structures the way we think about the world by explaining social phenomena not structurally but through the lens of individual choice and personal responsibility; meaning-making and how the "Passion Principle" shapes our sense of identity; Anthony Giddens and the Self-Reflexive Project; what asking children the question "What do you want to be when you grow up?" says about our society; blaming individuals in the labor force at the expense of examining inequities in labor, gender, and race; the pernicious expectation of performative passion in jobs like the barista Starbucks; emotional labor; how class inequality is reproduced by the "Passion Principle"; and much, much more.