This thesis uses the experiences of educated millennial precariats in New Zealand, those with university degrees and existing in a state of precarity, to explore the key challenges of capitalism in New Zealand.

In the wake of the Global Financial Crisis (GFC) and the rise of the gig-economy a new phenomena came to the attention of social scientists: the university educated precariat. This new precariat stood out as the group most affected by the failures of neoliberalism, with their degrees not guaranteeing them jobs as they had been promised, and the addition of student debt and insecure employment placing pressure on their financial security. While this phenomena has been well documented in international literature it has not yet been closely examined in New Zealand, where conditions are different to those seen overseas, including a smaller impact from the GFC, interest-free student loans, and less prevalence of the gig-economy.

Through a series of interviews and associated policy analysis, this thesis uncovers that the main site of financial exploitation for the educated precariat in New Zealand is through the rental housing market, rather than the labour market as seen overseas. It uncovers themes of poor capital intensity, and perverse market incentives that encourage housing as the main form of profit speculation in New Zealand. These challenges point to a looming future of increased wealth disparity, and the extension of state subsidised capitalism. If there is seemingly no electorally viable alternative to neoliberal capitalism, how do we address these challenges and produce economic security for the future?