Module 6: Economic and utilitarian theories
  Lecture 18: Economics in Our Times, Trends in Organization of Capital, and the Destiny

Along with this there is a crisis of legitimation. The 20th century has witnessed a shift in the locus of meaning from a culture where meaning and identity were grounded in loyalty to institutionsand structures to one in which meaning and identity are grounded in the self as the primary agent. The legitimacy of the institutions and structures is questioned and loyalty to them is removed. The following table, reproduced from Roxburgh’s summary of Risk Society explains the nature of transition (Roxburgh, 2011).