SOCA02H3 Lecture Notes - Golden Parachute, Creative Destruction, Foxconn
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.
