SOCIOL 1 Chapter Notes -Real Estate Bubble, Creative Destruction, Social Forces

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Ch 8 - structural sources of social change. Neolithic agricultural revolution - tools created and used; language more sophisticated, etc. Industrial revolution - new energy sources for industry, changes to work, family rural urban life. U. s. in midst of new transformation - new technologies and applications. Globalization - process by which everyone on earth becomes increasingly interconnected economically, politically, culturally and environmentally. Agreement on tariffs and trade (gatt) increased flow of goods and jobs across borders. Capital flight - movement of corporate money from one investment to another ex: plants in other nations, relocation, mergers. Offshoring - company moves its production to another country, producing same products with cheaper labour, lower taxes, lower benefits to workers. Outsourcing - taking some specific task a company was doing in-house and transferring it to overseas company to save money. Wages of production workers who have not lost their jobs remain low; employers threaten to move jobs elsewhere.

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