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Lecture 7

GGRA02H3 Lecture Notes - Lecture 7: Starbucks, Fashion Victim, Smallpox

Course Code
Michael Ekers

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T he G lobal A s s embly L ine
L ouise C rewe pas sage
P eople are exploited by the fashion indus try (e.g. garment workers)
T ie together the production of clothing with its cons umption
Unattainable body image
A fas hion victim is someone that feels angs t about their own body
P eoples bodies are connected to the people who produce clothing to the people who
s ell it and buy it
R eview from las t week
Everyone wants a home but not everyone is eligible for a typical “normal” mortgage
Amongs t normal mortgages, there are s ubprime mortgages
T he down payment is low but the interest rate can increase dramatically after
approximately a year or two
T his targets disproportional people with lower incomes , banks having full knowledge
that allot of this mortgages cannot be repaid but they're making a lot of money off you
from interes t rates
P eople do whatever they poss ibly can s o they can pay their mortgage rates so they
don't los e their homes
B anks are making more money off people from s ubprime mortgages then normal
F ierce regulation of financial markets but a lot of companies can find their ways around
Dis cus s ion Ques tions
1. What is a c ommodity?
S omething that can be bought or s old
S omething important that we need to s urvive
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