SOC100 - Labor Markets and Tech

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ONE reason for high suicide rates in apple sweatshops

no hope

SECOND reason for high suicide rates in apple sweatshops

alienation

THIRD REASON for high suicide rates in apple sweat shops. estrangement from human’s essential nature

special economic zones

designated area in a country declared “outside” of the country, where the laws customs, taxes, etc do not apply

well documented and publicized violation of human rights

ONE main change globalization did for global inequality

growing power and wealth of multi-national corporations

SECOND change globalization did for global inequality

power

the ability to achieve one’s goals when others are trying to prevent them from being realized

gross domestic product (GDP)

value of economic activity within a country, sum of all final goods and services produced in a given period of time

globalization

increased daily interaction that the average actor has with culture, products, and people from anywhere. more interconnectedness globally

colonization

action of appropriating a place or domain for one’s own use

economic globalization

global trade in goods, services, diversity of trade partnerships, international reserves

social globalization

international phone calls, money transfer, tourism, immigration, trademarks

political globalization

embassies, UN peacekeeping missions, international NGOs present

Bretton Woods Conference

conference to make international trade easier. increased global economic activity means less likely to go to war with each other (theory of economic interdependence and peace)

Uruguay Rounds

second economic conference, to protect the interests of multi-national corporations since economies relied on them

jobs

ONE way we rely on the economy

pensions

SECOND way we rely on the economy

maintaining home value

THIRD way we rely on the economy

laissez-faire economics

unregulated system of economic exchange with minimal government interventions about taxes, tariffs, quality control, etc

supply and demand

as demand increases, supply decreases. as demand decreases, supply increases

progressive tax rates

tax based on salary, better for redistributing wealth into society

proportional/flat tax rate

everyone pays the same tax rate, regardless of income

tariffs

tax on imported goods

non-tariff barriers

way to restrict using trade barriers in a form other than sanctions

quota

government imposed trade restriction that limits the number/monetary value of goods that a country can import/export during a particular period

embargo

a ban on trade/commercial activity with a particular country, usually the result of unfavorable political/economic circumstances

sanctions

laws passed to partially restrict/abolish trade with certain countries, more strategic and less all-encompassing than embargos

levies

legal means by which a taxing authority/bank can seize property for the payment of debt

bourgeoisie

owners of means of production (factories), rich

proletariat

sell labor to make a living, working class

surplus value

workers produced more value through products than they were paid in wages

labor unions

activists within a job that negotiate with employers for wages or other concerns

race to the bottom

workers offer labor for cheap, work longer hours, and/or to work under worse conditions for employment