Social Justice and Peace Studies 1025F/G Lecture Notes - Lecture 6: Foxconn, Market Failure, Correlation Does Not Imply Causation
14 Dec 2018
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Socljust 1025f lesson 6 socialist critique: part 2. In the us, the top 1% controls 23% of the country"s income. Across the world, the 8 richest people have the same wealth as half the planet (3500000000 people) About 500000 people are homeless in the us, while bill gates has over billion: exploitation. From the capitalist perspective, work is a free & fair exchange of labor for money. Capitalists mistake the formal freedom to quit, with the reality that most people don"t have this freedom they are forced to find a job by the pressure to pay their rent. Most people apply for jobs with few alternatives & from a position of much less bargaining power than their bosses, & so are largely compelled to take what"s offered. Inequality & force of circumstance compel people to get a job. Working conditions at foxconn are so bad that 17 year old tian yu killed herself: poverty.
