In this video clip, Guy Standing introduces what he believes constitutes a new class, the precariat. He argues that this class constitutes the new underclass in Western societies that is just above the poor but still below the proletariat. He argues that the precariat, i.e. “people who are being habituated to internalize and accept a life of unstable labour and unstable living”, lacks rights and labour security. However, he also sees potential in the precariat, once it will develop a self-consciousness as a class. In a nutshell: The precariat may have the potential to initiate societal change, which is the same potential that was ascribed to the proletariat during the last century. Taking history into account, however, I am not sure to what extent the proletariat was able to realize this potential. Therefore, we will have to wait and see if the precariat will be able to do any better.