SOCIOL 1 Lecture Notes - Lecture 24: Nationstates
Document Summary
->if one manufacturer lowers wages, then the other manufacturer must also lower wages to stay in competition-->drive down wages, mechanize all the other processes. ->today, most states in the greatest affluence they"ve ever been, people living with higher standard of living. ->marx did not anticipate that capitalism would emerge within powerful nation-states. ->in fact, nation-states regulated and controlled the worst aspects of capitalism. ->thus, labor unions sometimes even encouraged, labor unions set minimum wage. ->no waves of devastating competition that destroy whole industries overnight. ->antitrust-->help to maintain the economy, access to electricity, internet-->public utility, government-regulated-->these things cannot be infinitely jacked up. ->before these industries/regulations implemented, babies died all the time from tainted milk and today, we don"t even need to worry about that anymore. ->current globalized capitalism is at the potential of being able to operate out of any regulation by governments. ->increasingly, we have corporations that are not able to be regulated by any country government.
