CH 7 Flashcards
private ownership of the means of production and distribution of goods and services for profit in a competitive market
capitalism
Capitalism is the absence of what?
Absence of government intervention at the expense of increase inequalities
State ownership of the means of production and distribution of goods and services
socialism
Socialism reduces what?
Reduces inequalities at the expense of government control
Packs between countries that make it easier to trade goods by reducing or eliminating restrictions on exports and tariffs on imported goods and protecting intellectual property rights
Free Trade Agreements (FTA)
Name 4 facts things the FTA free trade agreements allows
- Expand trading opportunities
- Companies offshore
- Undermine laws to protect workers, consumers, and the environment
- US MCA replaced in a FTA
Multinational corporations have their homebased in one country in branches, or affiliates, in other countries
Transnational corporations
What do corporations have access to
The benefits of cheap labor, raw materials, avoidance of government regulations, take advantage of foreign take shelters but the savings are not passed down to consumers
What do the United States consequences of transnational corporations include?
- Trade deficits as more goods are produced and exported from outside
- Increase budget deficits since they shelter tax income
- Military spending increases to protect foreign interest for corporations
- Increased unemployment
- Other social problems including poverty, urban decline, and racial and ethnic tensions due to competition over Scarce employment
What are the consequences of transnational corporations within the United States
- Trade deficits
- Increase budget
- Military spending increases
- Increased unemployment
- Other social problems LIKE poverty
What do structural functionalist believe?
Economic institutions should provide necessities, surplus world in materials should be allocated for social uses such as the military, education, and recreation
What is conflict perspective
Refers to the ruling class using disruptive events to push for government policies for their benefit
Disaster capitalism
Involves ties between government and business
Coporatocracy
Define symbolic interactionist perspective
Believe work is central to our self-identity and status and that labels and interactions influenced the workplace and workers
Includes individuals who are currently unemployed, are available for employment, and have a look for work in the past four weeks
Unemployment rate
What are four causes of unemployment
Frictional unemployment, job exportation, outsourcing, automation
Expected time to look for jobs
Frictional unemployment
movement of jobs to other countries
Job exportation
Services to contractors to save on employment cost
Outsourcing
Replacement of human labor with technology
Automation
Effects of unemployment
Unemployed and those in fear of job loss cut back on spending, which hurts businesses that they must cut jobs to stay afloat
Internet is used to create new patterns for freelance in short term labor including ride sharing, selling crafts, and renting our property
Gig economy
Most common of modern-day slavery
Bonded labor
Day-to-day struggle to meet the demands of work and other life responsibilities and goals
Work-life conflict
Alienation of workers results from
Repetitive in monotonous tasks
Further alienates workers as the characteristics of the fast food industry including efficiency and control through technology are applied to other work environments
McDonaldization of Society
Unions have a declining ___ or union membership rate
Union density
Do United States has weak ___ and __ legislation
Labor laws and anti-union legislation
What is considered full employment
An unemployment rate of 5% or lower
What is the most effective way to end slavery, child labor, sweatshop labor
Legislation
Failure to update laws to reflect economic changes
Policy drift
strategy used by business management that attributes health and safety problems in the workplace to workers’ behavior, rather than to work processes and conditions
behavior-based safety programs
an economic system characterized by private ownership of the means of production and distribution of goods and services for profit in a competitive market
capitalism
a form of slavery in which slavery are considered property that can be bought and sold
chattel slavery
involves a child performing work that is hazardous, that interferes with a child’s education, or that harms a child’s health or physical, mental, social, or moral development
child labor
a political system that usually takes on the form of totalitarianism-a one-party system where the state controls all aspects of public and private life, permitting no individual freedom
communism
a system of government that serves the interest of corporations and that involves ties between government and business
corporatocracy
An economic pattern that occurs when elites use disruptive events—such as natural disasters or high unemployment—to push for policies that the public would be unlikely to accept in normal circumstances, such as lower wages, privatization, and deregulation.
disaster capitalism
the structure and means by which a society produces, distributes and consumes goods and services
economic institution
A federal law that requires public agencies and companies with 50 or more employees to provide eligible workers with up to 12 weeks of job-protected, unpaid leave so that they can care for an ill child, spouse, or parent; stay home to care for their newborn, newly adopted, or newly placed foster child; or take time off when they are seriously ill, and up to 26 weeks of unpaid leave to care for a seriously ill or injured family member who is in the armed forces, including the National Guard or Reserves.
Family and Medical Leave Act (FMLA)
Similar to slavery
Forced labor
Similar to slavery
Forced labor
A federal law that requires public agencies and companies with 50 or more employees to provide eligible workers with up to 12 weeks of job-protected, unpaid leave so that they can care for an ill child, spouse, or parent; stay home to care for their newborn, newly adopted, or newly placed foster child; or take time off when they are seriously ill, and up to 26 weeks of unpaid leave to care for a seriously ill or injured family member who is in the armed forces, including the National Guard or Reserves.
Free trade agreement (FTA)
exists when there are jobs available for all workers; usually when unemployment rates are below 5%
full employment
A labor force pattern characterized by people performing freelance or temporary work for other individuals, typically connected through an online platform
gig economy
an interconnected network of economic activity that transcends national borders
global economy
he period of global economic crisis that lasted from 2007 to 2009 that was characterized by high levels of unemployment, widespread home foreclosures, the collapse of the banking industry, and plummeting global trade
great recession
prolonged job stress that can cause or contribute to high blood pressure. ulcers, headaches, anxiety, depression, and other health problems
job burnout
worker advocacy organizations that developed to protect workers and represent them at negotiations between management and labor
labor unions
unemployment that lasts for 27 weeks or more
long-term unemployment
The process by which principles of the fast-food industry (efficiency, calculability, predictability, and control through technology) are being applied to more sectors of society, particularly the workplace
McDonaldization
The tendency for women with children, particularly young children, to be disadvantaged in hiring, wages, and the like, compared to women without children.
Motherhood penalty
The relocation of jobs to other countries where products can be produced more cheaply.
offshoring
A practice in which a business subcontracts with a third party to provide business services.
ourtsourcing
The failure to update labor laws to reflect changes in the broader society and economy.
policy drift
A significant decline in economic activity spread across the economy and lasting for at least six months.
Recession
Any work that is performed under the threat of punishment and is undertaken involuntarily; also known as forced labor.
slavery
An economic system characterized by state ownership of the means of production and distribution of goods and services.
socialism
Work environments that are characterized by less than minimum wage pay, excessively long hours of work (often without overtime pay), unsafe or inhumane working conditions, abusive treatment of workers by employers, and/or the lack of worker organizations aimed to negotiate better working conditions.
sweatshops
Also known as multinational corporations, corporations that have their home base in one country and branches, or affiliates, in other countries.
transnational coporations
To be currently without employment, actively seeking employment, and available for employment, according to U.S. measures of unemployment.
unemployment
The percentage of workers who belong to unions.
union density
Democratic business organizations controlled by their members, who actively participate in setting their policies and making decisions; also known as workers’ self-directed enterprises.
worker cooperatives
similar to worker cooperatives
workers’ self-directed enterprises
The day-to-day struggle to simultaneously meet the demands of work and other life responsibilities and goals, including family, education, exercise, and recreation.
work/life conflict
