SOSC 1000 Lecture Notes - Lecture 10: Bretton Woods System, Social Safety Net, Post-Fordism

• School: York University
• Department: Social Science
• Course: SOSC 1000
• Professor: Terry Conlin

Document Summary

Pwc, kws, bwa: post war compromise. End of world war, compromise between governement and corporations. International monetary fund(imf: provides short term loans to help members of the bretton woods. Crisis and neoliberalism: stagflation, unemployment, plus high levels of inflation, nixon responds to inflation crisis that are known as the nixon shocks. 10% tax tariff on everything that enters the u. s marketplace: deregulation of finanical markets, currency which is no longer backed by gold. These processes revolve around new management practices, revolve around flexible manufacturing,and flexible work arranagments. Flexibility for management: finanical flexibility, reducing amount of employees, functional flexibility, making your remaining workers much more efficient. Same levels of productivity with less workers: numerical flexibility, intro. Teams(workers prolly know more than the managers) outsourcing. Economies of scale- standardized product for mass market. About investment in the production of goods and services- real economy. Investment into the paper economy- extracted economy, currency markets.