PLSC 389E Lecture Notes - Lecture 10: Byrsonima Crassifolia, Neoliberalism, Kim Young-SamPremium
3 pages37 viewsSpring 2016
Course CodePLSC 389E
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Lecture Note 11: The Financial Crisis and Irregular Workers
Economic growth and (in)equality
We have diﬀerent needs in order to work but also live; and we want these instances to be covered monetarily
when you’re talking about labor: human beings
that’s why we need paid sick leave
we get old and we can’t work the same way forever
retirement and social security
we get sick and need to get better
we want to get married but want to come back to our job
need to spend time with kids
one extreme: social welfare, social protection implemented via taxes implemented by
income, throw social protection policy
other extreme: you only get paid for wages but you have to deal with everything
Another extreme: company takes away wages and puts into social protection, gives you
beneﬁts out of that money
What about South Koreans?
healthcare originally beneﬁtting certain groups to expand support bases
but now universal health care even when certain services not completely covered.
social welfare has been expanding in recent years, particularly since ﬁnancial crisis
large number of unemployed people
capitalism hinges on inequality though
Kuznet’s Inverse U chart
x-axis: Time 1, Time 2, Time 3
as economy develops, people have more education and the resources to educate children more. with
increased educational levels and skill levels, paid better, more politically empowered, more demand
for social protection via state institution.
trickle-down from peak point.
SK had nothing too, but earned a lot from nothing
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