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SOCIOL 1A06 Lecture Notes - Economic System

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Tina Fetner

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Sociology 1A06 Jan 18/10
Global Inequality Continued
Some Data
University of California, Santa Cruz
Lots of data on inequality and changes over time
o Http://
Income ratio
o Add up all incomes around the world
o Shows which countries have greater share or percentage of global income
o Greatest share of world productivity
Many of these changes over time can be attributed to globalization
What is Globalization?
More international communication
More international trade
More multinational corporations
Being around long time
Globalization as Economy
Economic system
Split between production and consumption
Global Economy
Production in the global south
Third World, colonized nations
Consumption in the global north
First World, colonizer nation
USA and Canada are former colonies, now First World, our global north
Policy and Globalization
Neo-liberal policies
o Reduced role of government
o Privatized social services
o Reduction of trade barriers
o Elimination of tariffs
o Rights of businesses trump rights of citizens
Sociology 1A06 Jan 18/10
Protect rights of business rather than citizens
Free Trade Zones
Established in global south to attract multinational corporations
Nor tariffs
Low taxes
Few environmental regulations
Few labour laws (e.g. right to organize, minimum wage, worker safety laws)