LABRST 2A03 Lecture Notes - Lecture 7: Independent Business, Keynesian Economics

• School: McMaster University
• Department: Labour Studies
• Course: LABRST 2A03
• Professor: David Goutor

Document Summary

Rates of incarceration go up the more the society becomes unequal. In part because crime will often go up. Social despair go up (domestic violence, drugs, alcohol) What this shows is that the number of people that go to jail is going up even though crime rates are going down. Fear rates go up even though crime rates are going down. The richer people get, the more people get scared. Black men: fear of them, fear of neighborhood. When you looked at high skilled areas, the income has started to fall. Unless there is a leveled amount of spending power, the economy won"t do well. There isnt a spending power - they have too much debt. The power of the rich -- does(cid:374)"t ha(cid:448)e ti(cid:373)e to spe(cid:374)d all of this (cid:373)o(cid:374)ey. The american consumer is the power of the economy. They will counteract a lot of the concentration of wealth and power.