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Lecture 8

SOCA03H3 - Lecture 8.docx

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University of Toronto Scarborough
Sheldon Ungar

Sociology Lecture Notes Globalization & Jobs MIDTERM EXAM: Wednesday, March 12 5-7PM - Room: AA112 Wheel of Fortune - Depression generation vs. baby boomers o Reverse early experiences o Depression generation grew up hard and ended up rich and in WWII o Baby boomers started up easy, jobs were given, but got hit really hard in 90’s depression - Savage (predatory) capitalism with globalization o Ruthless economy – creative destruction  downsizing  outsourcing Globalization - threatens state sovereignty o increasingly interdependence o state penetrated  media  pollution  currency exchange  drugs  crime and terror Transnational Corporations - of the 100 economies in the world 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 2.9mil jobs o Added 2.4 intl jobs - Exploit workers in developing countries o Nike and air jordans o Fires - Foxconn India - Outsource o Why?  Greater at math  Ability to speak English China - Global Manufac
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