Work, employment and the material conditions of young people in developed economies: a Marxist political economy of youth perspective

Abstract

This article proposes a Marxist political economy (MPE) of youth to explain the material conditions of young people in developed economies. Central concepts of capitalist accumulation, labour-power and value are utilised to historicise and situate young people in relation to wage labour under capitalism. The article conceptualises how contradictory processes of capitalist accumulation impact young people through an analysis of the actions of private capital, labour and the state. The theoretical approach is supported with UK data which illustrates how young people have experienced challenges in education, labour market transitions, and work and employment conditions. The article reveals how a combination of structural economic change, state regulation and low-road employer business strategies which generate poor quality work have all contributed to the decline in the value of youth labour-power in the UK. The article also provides methodological insights for using the MPE approach in future youth studies research.