SOCI 1 Study Guide - Fall 2018, Comprehensive Midterm Notes - Nave, Inrō, Standard Operating Procedure

• School: UCSD
• Department: Sociology
• Course: SOCI 1
• Professor: John Skrentny

Document Summary

Theories we already talked about: marriage and education among high earners. #3: product market size increasing- the number of potential consumers for products in major corporations. Manufacturers and producers in the past used to target their services to their consumers locally, but now they target globally. Ex: movies used to be produced and markets within the united states but now they"re marketed globally. Financial products are also bought from around the world ex:stocks and bonds. When product market size goes up, wealthy people earn more income. The problem: only works for certain organizations, and does not explain why ceo salaries were so constrained before globalization. #4: changes corporate governance- make as much profit as possible, expand the market, and beat out competitors. 1990s: corporations were not governed by managers but by shareholders and the purpose of the managers was not to make profits but to bring value to the shareholders. Corporations want to make the stocks more valuable.