Transcript Economy - WordPress.com

Economic Social Institution
In 2012, futurist Thomas Frey predicted that by 2030, 2 billion jobs will
disappear globally. “The more technology we rely on, the more breaking points
we’ll have in our lives. We are not well-equipped culturally and emotionally to
have this much technology entering into our lives. There will be backlashes,
‘destroy the robots’ or ‘damn the driverless car’ campaigns with proposed
legislation attempting to limit its influence. At the same time, most of the jobs
getting displaced are the low-level, low-skilled labor positions. Our challenge
will be to upgrade our workforce to match the labor demand of the coming era.
Although it won’t be an easy road ahead it will be one filled with amazing
technology and huge potentials as the industries shift” (Futurist Speaker).
Social Structure in a Gesellschaft Society
Culture, Race, Ethnicity, Gender, Sexuality
Social Class (SES = OIE), Religion, etc.
• Statuses and Roles
• Groups
• Institutions and Formal Organizations
• Society
Types of Jobs 1972 (Source: NPR)
Types of Jobs 2012 (Source: NPR)
Capitalism
1.) private ownership of companies
2.) profit driven
3.) market competition
Socialism
1.) public ownership (government)
2.) profit immoral
3.) competition immoral
Types of Capitalism
•
•
•
•
Laissez-Faire Capitalism
State or Welfare Capitalism http://www.heritage.org/index/
Convergence Theory/Mixed Economic System
Globalization of Capitalism
• Functionalist Theory
• Conflict Theory
• Corporate Capitalism
• Multinational Corporations
• Oligarchies
Where Do You Stand?
1. Should porno actors be required by law to
wear condoms?
Pro
Consideration for sexually transmitted diseases
Con
Loss of jobs in San Fernando Valley
Where Do You Stand?
2. Should it be illegal for fast food restaurants to
include toys in children’s “happy meals?”
Pro
Consideration for childhood obesity by linking
toys with processed foods
Con
Targeting certain industries while ignoring
others such as cereal boxes with toys
Where Do You Stand?
3. Should the government control gas prices by
subsidizing oil companies?
Pro
Consideration for economic dependence on oil
Con
Favoritism to oil corporations
Where Do You Stand?
4. Should the government require that everyone
purchase health insurance from private
insurance companies that exist to make a profit?
Pro
Uninsured contribute to increased medical costs
Con
Mandate creates unfair competition advantages
and no need to compete for customers
Where Do You Stand?
5. Should the government restrict the size of
soft drinks in restaurants, theatres, and other
public venues to 16 ounces?
Pro
Consideration for obesity
Con
Unfairly targets a specific industry, limits
freedom to make individual choices
Where Do You Stand?
6. Should government require Wal-Mart to pay
$12.50 per hour minimum wage while other
companies are not subjected to such a law?
Pro
Consideration for living wage
Con
Unfairly targets Wal-Mart
(600 jobs/11k applicants)
Corporate Capitalism
Multinational Corporations
Oligopolies
Jobs: Consumption over Production
Conspicuous Consumption
McDonaldization of Society
Planned Obsolescence
What Meaning Do You Assign to This Toilet Tissue?
Cuba
• Sense of self
revolves
around
creativity
• Thrift
orientated
culture
• Resource
poor country
U.S.A.
• Sense of self
revolves around
consumption
• Consumer
Orientated
Culture
• Resource rich
country
• Ability to Access
Resources from
Foreign
Countries
Consumption
• Meaning of life is in
things we possess
• Does not to satisfy
real needs
• Buying things will
allow one to
become something
they could not
otherwise be
• Satisfies artificially
created desires
Health of the Economy
What Does a Trillion Dollars Look Like?
http://www.pagetutor.com/trillion/index.html
Gross Domestic Product (GDP)
https://www.cia.gov/library/publications/the-worldfactbook/rankorder/2001rank.html?countryname=United%20States&countrycode=us&regionCode=noa&ra
nk=2#us
Federal Debt and the Federal Budget
http://www.brillig.com/debt_clock/
Who Owns the Debt?
http://www.washingtonpost.com/blogs/worldviews/wp/2013/10/10/this-surprising-chart-shows-which-countries-own-the-most-us-debt/
Is there a Problem?
http://www.youtube.com/watch?v=SgQ3WG7myY4
Bureau of Labor Statistics (BLS)
http://www.bls.gov/
3.9 Trillion Outlay and 563 Billion Deficit
(Source: Federal Spending)
Poverty U.S. Census – 2013
Married-couple families
Male householder
Female householder
5.8%
15.9%
30.6%
Males
Females
13.1%
15.8%