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SOCA02 - Week 8 - March 7, 2013

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Sheldon Ungar

SOCA02 – Week 8 – March 7, 2013 Globalization and Jobs - Now globalization increases threat to workers - We’re in a period where income inequality is increasing Wheel of Fortune - Depression generation VS baby boomers o Reverse early experiences o Recent recession caused baby boomers to lose their jobs - Savage capitalism o Ruthless economy – Creative destruction  Downsizing  Outsourcing (Globalization) Globalization - (Aim at a) Single transnational economy - Spread of a global culture - Increased global interdependence o Huge concern going on in Europe (Euro, debts of Italy and etc.) o If Euro goes down we will be sucked down with them Transnational Corporations - Of the 100 largest countries in the world o 51 are corporations; very powerful, paying very little tax o 49 are countries - The top 200 corporations’ combined sales are bigger than the combine GNPs of 182 countries - No loyalty to home country o “Made in the world”  Can be made anywhere, they have a profit to maximize their profit, minimize their taxes - US Multinational Corporations, 2000s o Cut 2.9 million US jobs o – Added 2.4 million foreign jobs - But: US ‘stealing’ world’s doctors - Exploit Workers in Developing Countries - Foxconn India and China India - Outsource o Why?  They have the skill of English because the British colonized India China - Global Manufacturer o Companies locate there to produce  12% China’s exports go to Wal-Mart o Why locate in China?  Cheap labour  No environmental laws/ little  No unions Technological Revolution - Knowledge workers at the top o Constant pressure to update  Apple beat blackberry, Samsung about to beat Apple Redistribution of Power - Weakened national state o Little power over TNC  Has been weakened by Transnational Corporations - Huge Debts o Loss of currency control - Unions weakened too o US – 14% unionized in 1997  Vs 36% in 1945 Affects on Jobs - Early Capitalism o De-skill (recall Taylorism) o Alienation on assembly line - Then Human Relations o Workers as most important “capital” o Concern with quality of working life Human Relations - Trait social contract (recall equity equation) - High productivity  Shared wealth - Loyalty  Job Guarentees Now… - Under “guise” of globalization o End social contract o Delink corporate earnings (profit) from employee earnings Top 50 CEOs VS Average workers - 1995: 85x Wages - 2007: 398x Wages “Lean” Production to Compete - Downsize - Substitute bad jobs for good: “Precarious Employment” o Contract Out (Ex. Have a company clean instead; hiring illegal immigrants)  Later: Outsource o De-skill  Re-engineer with software o Part-time Downsized and Upsized – Employees 1980 to 2002 - Exxon: -90% - General Motors: - 53% - Sears: - 26% - McDonald’s : +253% - Intel: + 395% - Walmart : +4 715% Microsoft, 2004 - $37 billion dividend o 3.5 Billion to Bill G. - Workers … o Squeezed Entitlement to Permanent Job Going … 1990s Panic over Job Loses - Workers in companies as o Self-employed  Vendors selling own skills - J
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