SOSC 1510 Study Guide - John Maynard Keynes, Precarious Work, Free-Trade Area
20 Dec 2013
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Austerity: in economics, refers to a policy of deficit-cutting by lowering spending via a reduction in the amount of benefits and public services provided. Downsizing/austerity means early (forced) retirement for the baby boomers. Unsure if there will be good jobs in the service sector in the future because businesses may pressure reduced government spending to provide more corporate tax cuts and because they caused a recession. The minimum wage is also a tool that encourages austerity. Bad jobs: a bad job is one that is alienating, authoritarian, unsafe, and precarious. Precarious work involves low pay, part-time or highly variable hours, and no benefits or pensions. Increased health problems are seen among workers who experience high demands but have little control over how to meet these demands. High strain jobs are more common among low-income women working in sales and the service sector. Low income plus low power can result in psychosocial stress, increased morbidity (sickness) and increased mortality (death).
