SOCY 344 Lecture Notes - Lecture 19: North American Free Trade Agreement, World Economy, Consumer Debt
25 Mar 2017
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Economic development: primary sector production = extraction of raw materials and natural resources, secondary sector production = processing of raw materials into finished goods, tertiary sector production = provision of services not goods. Thursday, march 23, 2017: eg. nafta (north america free trade agreement); comprehensive economic and. Corporate welfare: government assistance of corporations = a public subsidy for a private, powerful, and wealthy client, eg. conditionally repayable loans, grants, money for job-creation, tax breaks, tax cuts, eg. National deficit and national debt: national deficit = government spending exceeds revenues in a given year. Unstable income and jobs; low interest rates; easy credit. Employment precarity / 1: the precarity penalty (lewchuck et al. 4,193 people, ages 25-65, greater toronto-hamilton area. Precarious employment = temporary work, freelancers, contractors, the self- employed. Uncertainty regarding future employment prospects; variable hours of employment; uncertain future earnings; few if any supplemental employment benefits beyond a wage.
