SOCL 2001 Study Guide - Midterm Guide: Toyota Electronic Modulated Suspension, Informa, Glass Ceiling
Document Summary
Boom and bust cycles economy is either going full blast and then you blink your eyes and your in the middle of a depression: employers without government regulations will exploit their workers to the farthest extent they can, always a tendency for a monopoly big business always want to control cost, reduce competition, production, and maximum their business (control prices, they can make more money), socialism. Our education system does a wide variety of other things besides teach people knowledge and skills (many other latent functions): longer we keep people in school, longer they are out of labor market (reduces unemployment, learn social skills (how to get along with and work with other people, use it as a babysitting function, teaching students cultural values, being taught number of things responsibility, discipline, learning how to complete given tasks over time (teaching good work ethic)
