SOCA02H3 Lecture Notes - Golden Parachute, Creative Destruction, Foxconn

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Published on 21 Apr 2013
School
UTSC
Department
Sociology
Course
SOCA02H3
Professor
SOCA02
Lec 8 Ch. 9
Inequality and development
- In a period where level of inequality of income is more equal
Wheel of fortune
- Depression generation vs. baby boomers
o How you start doesn‟t dictate how you will end up
o Depression generation ended up rich
Passed on money to baby boomers
Baby boomers started really well and now experience has been reversed
baby boomers are out of jobs
o Reverse early experiences
Many baby boomers are now losing jobs
- Savage capitalism
o Ruthless economy creative destruction
Creates things but is also very destructive
Technology has taken away many middle-level jobs
Downsizing
Outsourcing
Globalization
- (aim at a) single transnational economy
- Spread of a global culture
- Increased global interdependence
Transnational corporations
- Of the 100 largest economies in the world
o E.g. apple stuff none is made in the states
o 51 are corporations
o 49 are countries
- The top 200 corporations‟ combined sales are bigger than the combined GNPs of 182
countries
- No loyalty to home country
o “made in the world”
- US multinational corporations, 2000s
o Cut 2.9 million US jobs
o Added 2.4 mill foreign jobs
Done for money and pay less
- US „stealing‟ the world‟s doctors
- Exploit workers in developing countries
o Foxconn
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India
- Outsource
o Why?
o English is the second language good for outsourcing
China
- Global manufacturer
o Companies locate there to produce
12% China‟s exports go to Wal-Mart
- Why locate in China?
o Cheaper, no laws (unions, etc.)
Technological Revolution
- Knowledge workers at the top
o Constant pressure to update
Computer chip capacity 1973-2000
- Power of computing has doubled every 2 years
Redistribution of power
- Weakened national state
o Little power over TNC
- Huge debts
o Loss of currency control
o People don‟t want tax increases (in the States)
- Unions weakened too
o US 14% unionized in 1997
o Vs. 36% in 1945
- Power shifting to Asia productivity of wealth
o Luxury cars being sold at a higher percentage in Asia other luxury products as
well
Effect 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
- Created a tacit social contract (recall equity equation)
- High productivity  shared wealth
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Document Summary

In a period where level of inequality of income is more equal. Depression generation vs. baby boomers: how you start doesn t dictate how you will end up, depression generation ended up rich. Baby boomers started really well and now experience has been reversed baby boomers are out of jobs: reverse early experiences. Many baby boomers are now losing jobs. Savage capitalism: ruthless economy creative destruction. Creates things but is also very destructive. Technology has taken away many middle-level jobs. Of the 100 largest economies in the world: e. g. apple stuff none is made in the states, 51 are corporations, 49 are countries. The top 200 corporations combined sales are bigger than the combined gnps of 182 countries. No loyalty to home country: made in the world . Us multinational corporations, 2000s: cut 2. 9 million us jobs, added 2. 4 mill foreign jobs. Exploit workers in developing countries: foxconn. Outsource: why, english is the second language good for outsourcing.

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