SOC 105 Lecture Notes - Lecture 3: Offshoring, Neoliberalism, North American Free Trade Agreement
Document Summary
Individuals are encouraged to own not only private possessions, but the capital to buy more possessions. Seeking personal gain is morally and socially appropriate. In a competitive society, if one agent raises prices to high, then others will step in to sell goods more cheaply. A government that does not intervene in the economy. More office jobs, fewer/contingent employees, automation, temp work, work from home. The great recession and crises of capitalism. Inherent contradiction found within capitalism is the inevitability of monopolies. This economic dominance by huge corporations is contrary to classical economic theory. Corporations control demand rather than respond to the demands of the. When four or fewer firms supply 50% or more of a particular market, a shared monopoly results. 10 largest mergers in us history were in last 15 years. Time, inc, and aol joined with warner. **of the 15,000 commercial us banks, largest 50 hold more than of all assets.
