This essay argues that global neo-liberalism has undercut the analytic power of the concept of the 'subaltern'. It has instead produced a new category: The precariat. It makes this case first by examining Carlo Levi's Christ Stopped at Eboli, which helped define the subaltern, and then by showing that the aftermath of the 1968 revolutions slowly overturned the problematic installed by Levi and the Subaltern Studies group. It ends by offering an account of contemporary precarity via a reading of Amit Chaudhuri's novel, The Immortals.