SOCI-102 Lecture Notes - Lecture 22: Corporate Crime, Vandana Shiva, Oscar Olivera
14 Dec 2017
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Document Summary
Austerity measures are cuts to quality and quantity of public services provided by the gvmt in an attempt to shrink deficits and debt. In 2009 many nations engaged in austerity at unprecedented levels and have economic and political implications. These measures pose a problem: you cannot scale back in order to grow; the austerity measures understimulate the economy. Enables opportunity to drive down wages (army of unemployed), gets rid of unions, strengthens the bubble economics of boom and bust. Austerity measures have global effects: in the uk the longest economic crisis has occurred, escalates the prevalence of social problems such as health, poverty and homelessness. Effects felt disproportionately by the lower and middle working class; attacks one class more than the other, esp. the poor, the youth, and the racialized groups. Youths for example are highly likely to be unemployed, as high as 60% in youth.
