According to Richard Sennett, modern capitalism consists with the discontinuous reinvention of institutions, the flexible specialization of production, and the concentration without centralization of power. (Sennett 1998, p. 47) He argued that the discontinuous reinvention of institutions created a distinct form of institution that is separated from the previous version. Instead of making minor changes to keep up with the change of time, distinctly changes are the trend in modern capitalism. For example, the cubical spaces in office in the 90s were changed into more open environment that was supposed to increase the efficiency in the workplace. This might create distraction and pressure for employees when there is no longer a private place for them. The next element Sennett suggested is the flexible specialization of production. Unlike the business before, businesses now tend to change rapidly according to the trend and the consumer’s preferences. In the modern capitalist society, it is not difficult to see various versions and types of any product that anyone could think of. It is very different from the early capitalist society when the market was occupied by a few famous brand companies. On one hand, the flexible specialization of production is in favor for the consumer, on the other hand, when considered most of the consumers are actually an employee themselves. The temporary mode of production provides less security to the employees in terms of job security, the pressure of being creative, and the need of constant follow the upcoming trend. The last factor is the concentration without centralization of power. It is best to understand it as a network of production. The pyramid institution is now transformed into network institution where employees could have more freedom now. For one project, multiple small workgroups would be formed
According to Richard Sennett, modern capitalism consists with the discontinuous reinvention of institutions, the flexible specialization of production, and the concentration without centralization of power. (Sennett 1998, p. 47) He argued that the discontinuous reinvention of institutions created a distinct form of institution that is separated from the previous version. Instead of making minor changes to keep up with the change of time, distinctly changes are the trend in modern capitalism. For example, the cubical spaces in office in the 90s were changed into more open environment that was supposed to increase the efficiency in the workplace. This might create distraction and pressure for employees when there is no longer a private place for them. The next element Sennett suggested is the flexible specialization of production. Unlike the business before, businesses now tend to change rapidly according to the trend and the consumer’s preferences. In the modern capitalist society, it is not difficult to see various versions and types of any product that anyone could think of. It is very different from the early capitalist society when the market was occupied by a few famous brand companies. On one hand, the flexible specialization of production is in favor for the consumer, on the other hand, when considered most of the consumers are actually an employee themselves. The temporary mode of production provides less security to the employees in terms of job security, the pressure of being creative, and the need of constant follow the upcoming trend. The last factor is the concentration without centralization of power. It is best to understand it as a network of production. The pyramid institution is now transformed into network institution where employees could have more freedom now. For one project, multiple small workgroups would be formed