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This Inaugural Lecture by Professor Guy Standing entitled "Precariat And Peasant: Reframing Social Protection For The 21st Century" was given on 19 June 2013 at SOAS University of London. Globalisation has produced a global class structure in which the precariat in countries as dissimilar as Britain and China is being expanded by austerity. Reforms intensify insecurities and inequalities. Anger is rising. A new vision is needed that reflects the precariat's aspirations and needs, makes universal basic security a priority and defines work as occupation rather than "jobs". A progressive and more ecological social protection system could then be constructed around principles of compassion, contributions and solidarity. Guy Standing is Professor of Development Studies at SOAS, University of London, and a founder and co-President of the Basic Income Earth Network (BIEN), an NGO promoting basic income as a right. He has held chairs at the Universities of Bath and Monash (Australia) and was previously Director of the Socio-Economic Security Programme of the International Labour Organisation. He is currently working on pilot basic income schemes in India and a follow-up to his latest book, The Precariat: The New Dangerous Class.