FMSC 381 Lecture Notes - Lecture 7: Temporary Assistance For Needy Families, Basic Income, National Wealth
27 Feb 2018
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Document Summary
Globalization: workers move within/across borders, globalized economy. Flow of money, capital, credit: began with mercantilism and colonization, globalized economy and poverty. Outsourcing: going out of company/state/country to create product at lowest cost, contributions of technology. Working poor: labor market problems faced by low-income families. Effects on family life: family responses. Real and actual wages: actual wage. Amount received by laborer for productive work: real wage. Amount of goods/services purchased with actual wage. Buying power; changes with inflation: changes over time. Minimum wage: last vote to increase minimum wage. That wage in 2002= . 69 in 1997 dollars. Living wage: require private businesses with public contracts to pay workers a living wage. Minimum income regardless of criteria (like age, location, wealth, job status) Idea is to alleviate income inequality and bolster job security (in the face of technology) Money and it"s opposite, debt: thinking about money. How to spend money: an american problem: scams.
