Sociology: Economy and Work

Flashcards covering the overview of the economy, types of economic systems (capitalism, socialism, and democratic socialism), U.S. labor force demographics, and sociological perspectives on work (functionalism, conflict theory, and symbolic interactionism).

How do sociologists define the economy?

As the social institution that organizes the production, distribution, and consumption of a society's goods and services.

How is the economy conceptually distinct from the government?

The economy organizes the production, distribution, and consumption of goods and services, whereas government is the social institution through which power is distributed and exercised.

What are the three sectors of the economy?

The primary sector, the secondary sector, and the tertiary sector.

What is the primary sector of the economy, and what activities does it include?

It is the part of the economy that takes and uses raw materials directly from the natural environment; activities include agriculture, fishing, forestry, and mining.

What is the secondary sector of the economy?

It is the part of the economy that transforms raw materials into finished products and is essentially the manufacturing industry.

What is the tertiary sector of the economy, and what are examples of its activities?

It is the part of the economy that provides services rather than products; activities include clerical work, health care, teaching, and information technology services.

How does a society's level of economic development correlate with the importance of its economic sectors?

The less developed a society's economy, the more important its primary sector; the more developed a society's economy, the more important its tertiary sector.

What is capitalism, and according to Adam Smith, what is its most important goal?

Capitalism is an economic system in which the means of production are privately owned; according to Adam Smith, its most important goal is the pursuit of personal profit.

Why is capitalism often referred to as laissez-faire capitalism?

Because Adam Smith argued that the market competition characterizing capitalism should be left to operate on its own, free of government intervention or control (from the French for 'leave alone').

What are the four defining hallmarks of capitalism?

Private ownership of the means of production, the pursuit of profit, competition for profit, and the lack of government intervention in this competition.

What is socialism, and what is its primary goal?

Socialism is an economic system in which the means of production are collectively owned (usually by the government); its primary goal is work for the collective good rather than the pursuit of personal profit.

According to Karl Marx, what was the ideal outcome of socialism?

A truly classless or communist society in which all members are equal and stratification does not exist.

What are the two major advantages of capitalism compared to socialism?

It produces greater economic growth and productivity (due to profit incentives for innovation) and is typically characterized by greater political freedom in the form of civil rights and liberties.

What are two major drawbacks of capitalism identified by critics?

It generates significant economic inequality between rich and poor, and it encourages selfish and greedy behavior where maximizing profit comes at the expense of others.

What is democratic socialism?

An economic and political system combining capitalism and socialism, where the government owns several important industries and provides extensive social programs, but private property and political freedom remain widespread.

Which five Scandinavian nations operate as social democracies, and what is the underlying commitment of their social welfare model?

Denmark, Finland, Iceland, Norway, and Sweden; their model is based on universalism, where all citizens receive free or heavily subsidized services such as child care and universal health care supported by high taxes.

What constitutes the civilian labor force in the United States, and approximately how many people belong to it?

It consists of all noninstitutionalized civilians $16\text{ years}$ of age or older who work for pay or are looking for work, totaling about $154\text{ million}$ people (about two-thirds of the population).

How did the labor force participation rate of married women with children under $6\text{ years}$ of age change between $1960$ and $2009$?

It rose from less than $19\%$ in $1960$ to almost $62\%$ in $2009$, representing a threefold difference.

According to functionalism, what essential functions do work and the economy serve for society?

The economy provides the goods and services that make society possible, while work provides an income, self-fulfillment, identity, and coworker friendships.

What proportion of workers in the $2010$ General Social Survey (GSS) stated they would continue working even if they had enough money to live comfortably for life?

More than two-thirds ($68.7\%$) of respondents indicated they would continue working, reflecting the nonmaterial benefits of employment.

What is conflict theory's critique of the economy and work under capitalism?

The ruling class (bourgeoisie) owns the means of production to oppress and exploit the working class (proletariat); work is often alienating, workplaces can be dangerous, and they can be sites of sexual harassment.

Why did Karl Marx argue that work in a capitalist society is inherently alienating?

Because workers do not design the products they build, workplace tasks are boring and repetitive, and workers are treated as mere commodities to be hired and fired at will.

In Joan Emerson's ($1970$) symbolic interactionist study, how did medical staff define the situation of gynecological exams as nonsexual?

They acted in a matter-of-fact, nonchalant manner, maintained a professional demeanor, had a female nurse present, and treated the pelvic area strictly as a nonsexual medical region.

In Jonathan Rubinstein's ($1993$) symbolic interactionist study of Philadelphia police officers, how did officers maintain the respect of their peers?

By going to considerable lengths to avoid any appearance of incompetency or error, such as recording dispatchers' information promptly and accurately and avoiding remarks that question colleagues' competence.