SOCIOL 1C03 Lecture Notes - Lecture 7: Credit Rating Agency, Global Recession, Visible Minority
22 Apr 2019
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Lecture 7: labour market and social policy part 2. Human capital theory: education and experience determine income. Critique theory: doesn"t explain lower incomes of certain groups. Sociologists have asserted that this theory is problematic. Does not account for certain social groups that experience underemployment, in which higher education does not translate to higher incomes. Black men have faced persistent economic inequality- higher unemployment and lower incomes given their education and work experience. Black women - income matches with education and work experience. Education jobs gap- the discrepancy between the number of people attaining a university degree, and the number of people getting jobs. Austerity measures: provisions enacted by government to decrease government spending. Many countries began implementing austerity measures following the global recession. Used by governments facing economic difficulty- repaying debt. Sparked large protests- citizens believed that austerity measures were too extreme and hindered their ability to provide for their family.
