SOC 103 Lecture Notes - Lecture 5: Multinational Corporation, Deskilling, Living Wage

• School: Ryerson University
• Department: Sociology
• Course: SOC 103
• Professor: Lock Rebecca

Document Summary

Introduction: the previous module focused on the transformation from feudalism to capitalism that took place between 1000 a. d. and the 1600s. As we have seen, the development of capitalism led to industrialization as capitalists looked for ways to increase the production of goods. The manufacturing industries that began to emerge in the 1820s were primarily small and mid-size businesses, usually individually or family owned and operated, or owned by only a few shareholders. Employment for the working class became highly insecure; workers were easily replaced. By deskilling work, employers could decrease already low wages. At the end of world war ii (after 1946), colonial rule was beginning to erode with the rise of nationalist independence movements. The disintegration of direct colonial rule, however, paved the way for capitalism on a global scale and the emergence of multinational or transnational corporations.