Why are people quitting the work force? Short term assets?

In the early 1990s, career advice in the United States changed. A new social philosophy, neoliberalism, was transforming society, including the nature of employment, and career counsellors and business writers had to respond. The Soviet Union had recently collapsed, and much as communist thinkers had tried to apply Marxist ideas to every aspect of life, triumphant US economic intellectuals raced to implement the ultra-individualist ideals of Friedrich Hayek, Milton Friedman and other members of the Mont Pelerin Society, far and wide. In doing so for work, they developed a metaphor – that every person should think of herself as a business, the CEO of Me, Inc. The metaphor took off, and has had profound implications for how workplaces are run, how people understand their jobs, and how they plan careers, which increasingly revolve around quitting.

Hayek (1899-1992) was an influential Austrian economist who operated from the core conviction that markets provided the best means to order the world. Today, many people share this conviction, and that is in part because of the influence of Hayek and his cohort. At the time that Hayek and his circle began making their arguments, it was an eccentric and minority position. For Hayek and the Mount Pelerin group, the centralised economic planning that characterised both communism and fascism was a recipe for disaster. Hayek held that humans are too flawed to successfully undertake the planning of a complex modern economy. A single human being, or even group of human beings, could never competently handle the informational complexities of modern economic systems. Given humans’ limitations in the face of modern economic complexity, freeing the market to organise large-scale production and distribution was the best possible course.

Hayek understood that markets do not emerge naturally, that traders, consumers and laws construct markets. Once established, markets have tendencies towards monopoly and other business practices that could undercut forming an even playing field. So markets can’t be entirely left to self-regulate; laws and governments are necessary. Indeed, this is the primary reason why governments should exist – to ensure that markets function well. Governments should not be providing services to its citizenry such as public transportation or a postal service – Hayek believed that private interests most efficiently manage these services. Also governments should not be providing forms of welfare to its citizens, since welfare undercuts how the market allocates value and introduces too much centralised planning. Instead, what governments should focus upon is organising markets well, keeping them functioning to promote competition, and thus also promoting innovation. Because market competition is the goal, arbitrarily curtailing this competition through tariffs or other nationalist strategies for undercutting a global market was also deeply undesirable. Hayek wanted a global market.

Source: https://aeon.co/essays/how-work-changed-to-make-us-all-passionate-quitters