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Lecture 3

Week 3 notes

1 pages67 viewsWinter 2011

Course Code
Malcolm Mac Kinnon

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MEtarial culture is technology
Offspring of science need science for advancement of technology
Ex..air transport game changer..can move large number of people around the
world very quckly
Hindenburg disaster----flame to hydrogen
Trade is a source of dislocation and increase wealth
Northern telecom
Production techniques have been globalized its is now similar around the
You can make product more cheaply
Compeat with each others to attract investment
Global trade
Re generalized ---devison of the world and constant competition
Markets governed by the law of supply and demand
Existed under tradition---traded with outsiders
WTO investigates countries to make sure countries stay up with trade
Free tradewhen a country rids of import duties and tarrif
Countries had boundires and tarrifthis si called protectionism
Attempts by countries to protect their own producers
Capitislism destroys tradition
Being econ independ can help u control ur life
Global production is called lean productionloweest possible cost
Flexable work forceuse of contract workers
Just in time inventory system---gets rid of storage of inventory keeps small
amounts in handand when ur about to run out
Total qualiy management---developed in japanworkers are loyal to their
companies… r u
Electronices are advanced another characteristics of lean production
When workers neo they are being watch they are more likely to work hard
Panoptical---when people are being watched THEY ARE more likely to
With free trade gov loss the ability to protect jobs and industries disappear
When In efficient companies goes out of business price of consumers go down
As tec eveloves wars can go global
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