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TERMS & CONCEPTS - Future of Work

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Social Science
SOSC 1510
David Langille

1. Austerity • Reduced government spending via a reduction in the amount of benefits and public services provided • Sometimes coupled with increase in taxes • In periods of recession and high unemployment, it can be counterproductive because it can increase unemployment • Also “downsizing” – early forced retirement for boomers 2. Bad jobs • Poor pay • Poor working conditions • No growth opportunities • Poor work-life balance • No benefits 3. Business cycle • The economic activity that is examined over a period of months or years, used to determine a pattern of alternating periods of growth and decline • Despite being termed cycles, these fluctuations in economic activity do not follow a mechanical or predictable periodic pattern. • The activities examined are o Employment o industrial productivity o interest rates • There are four phases to the business cycle and they are; o Recovery: However, as phase goes on productivity becomes less elastic, restricted access, appear with rising costs deliveries are trickier and plants may have to be extended. Under these stipulations, prices rise o Prosperity: In the wealthy stage, demand, productivity and earnings are at a high level. They are likely to raise prices. But remuneration such as salaries, wages, interest rates rentals and taxes do not rise in proportion to the rise in prices. o Recession (turning point, Consequently profit margins decline further for the reason that costs begins overtaking prices. Some firms wind up. Others diminish production and try to sell out accumulated stocks.) o Depression (There is considerable deduction in the production of goods and services, employment, earnings, demand and prices.) 4. Canadian Council of Chief Executives • An organization that consists of 150 of Canada’s top CEO’s that have a direct link to the Prime Minister • They have the ability to indirectly influence public policy • The council is able to make judgements on the entire Canadian economy because their members are comprised from sectors of all aspects of the economy • The council has a Board of Directors who decides Governance and the directive of the organization • they meet three times a year • Yet in order for policy to be decided the entire council must be involved • The purpose of the council is to decide what the best policy should be on issues such as; taxation, environment, and monetary policy • The council also has interests with Canada/ US relations on economic policies such as NAFTA and an international aspect that entails foreign investments, and trade • Essentially their purview is with anything that entails Canadian financial interests 5. Capitalism / Capitalist society • An economic and political system in which a country's trade and industry are controlled by private owners for profit • Began to emerge in the early 1700’s • The productions of goods by artisans, or by the home based putting out system in which merchant • It began with landlords demanding more rent which forced people off the land and into the cities • Started making workshops that made metal, cloth, and glass • Growth in trade and transportation, the construction of rail ways and the demand for the weapons by the army increased which encouraged new techniques for processing iron • Bad working conditions due to a single energy source (industrial mill) • Children, men and women were all working at first but eventually it was only men • A capitalist society has private property, wage labour, market relations, a few own the means of production, and most are paid a wage to work for the owners 6. CUFTA • Canada-US Free Trade Agreement • the agreement phased out a wide range of trade restrictions in stages over a ten year period, and resulted in a great increase in cross-border trade • eliminate barriers to trade in goods and services between Canada and the United States • facilitate conditions of fair competition within the free-trade area established by the Agreement • significantly liberalize conditions for investment within that free-trade area • establish effective procedures for the joint administration of the Agreement and the resolution of disputes • lay the foundation for further bilateral and multilateral cooperation to expand and enhance the benefits of the Agreement • After the agreement came into effect, trade between Canada and the U.S. began to increase rapidly • some criticized the agreement as a cause of capital flight and job insecurity due to international outsourcing 7. Cyclical changes • Type of unemployment – due to recessions • Describes any large imbalance in economic factors that occur due to purely cyclical reactions by a market or nation • This can include employment rates, debt retention, interest rates,bond strengths, or stock market imbalances • A form of nonlinear economics and, as such, its effects can be widely varied • Depended on the overall business cycle 8. Discrimination • treatment or consideration of, or making a distinction in favor of or against, a person or thing based on the group, class, or category to which that person or thing belongs rather than on individual merit 9. Division of labour • The division of labour is the way that different tasks are given to different people in a given society each operation is carried out by a different worker or group of workers • Each worker then becomes an expert in one area which increase efficiency assembly lines made it necessary for workers to focus on a small part of the production process 10. Double day / second shift • There has definitely been a lot of changes made in women’s paid work but we are also noticing a shift in the gender division of household work many working women come home and start doing household work, which they are calling a second shift • they come home to cook, clean, shop, and look after children, something their mothers and grandmothers used to do full- time • this has created a 13.5 hour decrease of leisure time for women, however the husbands do not experience any loss of leisure time • recent studies show that women devote much more time on average to housework however the men are spending somewhat more time than before 11. Employment • A situation in which all available labour resources are being used in the most economically efficient way. • Full employment embodies the highest amount of skilled and unskilled labor that could be employed within an economy at any given time • The remaining unemployment is frictional 12. Employment equity • Employment equity is defined as a strategy to eliminate the effects of discrimination and to fully open the competition for job opportunities to those who have been excluded historically • Women, visible minorities, aboriginal people, and persons with disabilities are the four groups that are identified as disadvantaged • If you are a woman and also fit into one of the other groups, you are facing a double disadvantage • You need to take women seriously as workers and you shouldn’t assume that their primary interests lie away from their work place • It means you should provide the education and training to permit women the chance to compete for the widest possible range of job options • Establishes targets and timetable to achieve a workforce that better represents labour pool (come up with a schedule of when you’re going to do what) • Human resources practices are improved, more women are hired and promoted, and narrows the wage gaps • Highers the cost of the employers • Complaints about lower productivity (of the visible minorities) • Male backlash (they are mad because people are hiring the visible minorities) we don’t have employment equity in Ont
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