Wright and Rogers Chapter 2 Flashcards
In our society what does it mean to say we have a high level of Technological Development?
The techniques we use to produce things are highly productive: Fewer inputs required for the amount of output in relation to the past.
What is an example of High productivity and technological development?
Less than 3 percent of the labor force works in agriculture to provide food for the 300 million people
What does a Post-Industrial society mean really for humans?
They are now producing services, not physical things.
What is the economy when we talk about it?
All the ways people produce the goods and services consumed in a society.
What kind of economy does the US have?
A type of capitalism, dominated by Gigantic Organizations, with Weak Unions, Weakly regulated markets that exist in an increasingly globalized system of economic interactions.
What three things make a Capitalist economy, and does the US have one?
Markets for exchange, Private ownership and control of investment, and Markets for labor. Yes.
What are Markets for exchange?
Production is organized for market rather than immediate use by producers. IE Food on a farm V. Family garden.
What does Private ownership and control of investment mean?
Firms that organize production are owned privately V. owned by a public body like the state. They also control their investments which is allocated for future economic activity.
What are Markets for labor?
The people who work in firms are hired from a labor market to work in firms as employees
If firms are owned by employees is that a form of capitalism?
No. that is more of a noncapitalist firm working within capitalism
United states capitalism is dominated by huge megacorprations. T/F?
True.
T/F? The top ten US firms in the fortune magazine list of 500 largest firms had combined revenues of over 2.2 trillion?
True
If these ten firms were a country where would they rank in relation to the worlds toip economies?
8th.
T/F? America’s top ten organizations each individually had revenues in 2012 less than the combined income of the 134 million people living in the 48 poorest countries in the world
False they did. Exxon mobil alone had revenues greater than the combined income of 345 million people in the world’s 75 poorest countries
T/F The united states has one of the greatest labor movements of any developed capitalist country?
False they have among the weakest.
What is a labor union?
an association people form to bargain more effectively with employers and in other ways collectively pursue their interests.
Why are Labor unions strong?
Because they develop collective power. a firm may not need one employee but it does need all of it’s employees.
What happens as a result of US labor unions being so weak?
Labor markets are less regulated and involve more competition. As well as American workers have fewer rights.
What are some rights that are not given to American workers?
Parental leaves and Right to strike.
What are Parental leaves? and how are they weak in the labor market?
They are leaves given to parents when a child is born. They are weak though because workers do not receive paid leave when this happens.
What is right to strike and how is it not implemented in the US?
RTS=Right to strike, however in the US the employee has the right to hire a temporary replacement in this situation but in other countries they have a right to their job when they come back.
What are some examples of how the US economy is not well regulated in relation to labor markets?
Employers have will to fire and hire employees freely, minimum wage is low and provides no real protection for workers, and GOV regulation of training and skills is minimal.
What is the percentage of Public employment in relation to the labor force in the US?
15 percent, and most is at the local government level.
What percentage of Civilian spending was put towards nonmilitary spending in 2012?
about 34.5 percent which in turn is among the lowest levels of all economically developed countries.
Is the United states a highly taxed economy?
No. The tax burden compared to the GDP in 2013 was just 25% compared to 35+% in European countries.
The integration into the worlds economies can be seen from what vantage points?
Trade, Production, and Ownership.
In relation to the US and Globalization, what is Trade?
How much imports plus exports equal in relation to the GNP. in WW1- 1960= 10% Now in the 21st century it equals about 25%
What is cause for the major change in imports and exports for the US?
American Firms are now involved in intense competitions with firms in other countries?
In relation to Globalization, what does Production mean?
Production requires materials and components that are manufactured in companies from all over the world.
What does a global factory mean?
Raw materials come from some place, Parts made from those materials come from another, and they’re assembled in a different place.
In relation to Globalization, what does Ownership mean?
Many corporations have operations in other countries which export goods to the US as well as other places but which economy is it apart of?
What does Winner take all mean?
Each candidate is elected from a district in which one candidate wins
What does Federalism Mean?
NaTIONAL POWER IS EXPLICITLY SHARED WITH SUBNATIONAL UNITS OF GOVERNMENTS CALLED STATES.
The US has a Divided Government, but what exactly is that?
One that assigns clear and separate constitutional bases for power to its legislative, executive, and judicial branches.
What’s a big difference in the power that leads the country in the US Vs other states?
It’s presidential, not parliamentary.
What is parliamentary and how does it differ?
Head of state andhead of gov are sperated. Dominant group in legislature elects head rather than citizens
How much does the US spend on its military compared to other countries?
Ten times as much.
Is the US economy deeply integrated with the production of military goods?
Yes. both for it’s use and for export.
What are some major terms that define American culture?
Pluralism and tolerance, Individualism, Religiosity, and Commercialism and consumerism.
In relation to violence, what are some main terms that represent what a US society is like inrelation to this question?
Gun murders, Homicide, Prisons, Death Penalty, and Police Presence.
In relation to Violence and repressive control how does Gun Murders represent a US society
There were at least 31 gun murders a day in the us in 2011, while there were only 38 a year for great britain
In relation to Violence and repressive control how does Homicide represent a US society
The second leading cause of death among 15-24 and eading cause of death for black males aged 15-34
In relation to Violence and repressive control how do Prisons represent a US society
in the US in 2011 there were 76 prisoners or every 100,00 people but US ony has 5 percent of worlds pop but 24 percent of the worlds prisons population
In relation to Violence and repressive control how does The Death Penalty represent a US society
Only economically developed country besides south korea and japan to still have death penalty
In relation to Violence and repressive control how does Police Presence represent a US society
in 2012 the US had almost 1.7 million police and security gaurds representing over 1 percent of the labor force.
In relation to US culture how does Pluralism and Tolerance describe the US?
There are may subcultures, and peope are tolerant tot this.; IE Nascar fans, amish communities, sothern traditionalist.
In relation to US culture how does Individualism describe the US?
individual autonomy and freedom are key, and a persons fate is decided by themselves
In relation to US culture how does Commercialism and Consumerism describe the US?
Americans save less and buy more than any other country. Success in the market indicates high class.
In relation to US culture how does Religiosity describe the US?
Americans are among the most religious in theworld at least in church attendence and beliefs.
