Soc 203 Chapter 11

global economy
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Terms in this set (32)
global economy
an interconnected network of economic activity that transcends national borders and spans the world
Economic Institution
the structure and means by which a society produces, distributes, and consumes goods and services
capitalism
an economic system in which private individuals or groups invest capital to produce goods and services for profit, in a competitive market
socialism
an economic ideology that emphasizes public rather than private ownership. Theoretically, goods and services are equitably distributed according to the needs of the citizen
convergence hypothesis
The argument that capitalist countries will adopt elements of socialism and socialist countries will adopt elements of capitalism; that is, they will converge.
corporate multinationalism
The practice of corporations having their home base in one country and branches, or affiliates, in other countries.
Industrial Revolution
The period between the mid-eighteenth and the early nineteenth centuries when machines and factories became the primary means for producing goods
postindustrialization
The shift from an industrial economy dominated by manufacturing jobs to an economy dominated by service-oriented, information-intensive occupation
work sectors
The division of the labour force into distinct categories (primary, secondary, and tertiary) based on the types
of goods or services produced
Brain Drain
the phenomenon whereby many individuals with the highest level of skill and education leave the country in search of work abroad
technostressStress that arises specifically from having too many tasks to perform simultaneously, while keeping up with perpetually changing demands to operate new and emerging technologies with easdiscrimination managementIndividual efforts to prevent being targeted for discriminatory behaviours in the workplacechild labourChildren performing work that is hazardous, that interferes with their education, or that harms their health or physical, mental, spiritual, or moral developmentSweatshopsWork environments characterized by less than minimum wage pay, excessively long hours of work often without overtime pay, unsafe or inhumane working conditions, abusive treatment of workers by employers, or the lack of worker organizations aimed at negotiating better work conditions.bonded labourthe repayment of a debt through labourcumulative trauma disordersThe most common type of workplace injury; it includes muscle, tendon, vascular, and nerve injuries that result from repeated or sustained actions or exertions of different body parts. Jobs that are associated with high rates of upper body cumulative stress disorders include computer programming, manufacturing, meat packing, poultry processing, and clerical or office work.repetitive strain disorders (repeated trauma disorders)The most common types of workplace illnesses include muscle, tendon, vascular, and nerve injuries that result from repeated or sustained actions or exertions of different body parts. Jobs that are associated with high rates of upper body repeated trauma disorders include computer programming, manufacturing, meat packaging, poultry processing, and clerical/ office work.shift workThe use of a 24-hour schedule to create workdays of three eight- hour shifts. Some workers have "split shifts" in which their eight hours are interrupted by unpaid periods of over an hour, effectively extending the workers' days to 10 hours or more. Split shifts are common in the hospitality sectoralienationThe concept used by Karl Marx to describe the condition when workers feel powerlessness and meaninglessness as a result of performing repetitive, isolated work tasks. Alienation involves becoming estranged from one's work, the products one creates, other human beings, or one's self; it also refers to powerlessness and meaninglessness experienced by students in traditional, restrictive educational institutions.unemploymentthe unemployed are those who want and are able to work, but who have no work at present. For statistical purposes, Statistics Canada defines the unemployed in these ways: (1) as people who did not work in the labour market during the survey reference week (but may have done housework, etc.); (2) as people who were available for work and actively looked for it in the past four weeks; (3) as people laid off for 26 weeks or fewer and expecting to be recalled by their employer; or (4) as people who were waiting for new jobs to begin within four weeks.underemploymentEmployment in a job that is underpaid; is not commensurate with one's skills, experience, or education; or involves working fewer hours than desired.discriminatory unemploymentHigh rates of unemployment among particular social groups, such as racial and ethnic minorities and women.Structural unemploymentExists when there are not enough jobs available for those who want them; unemployment that results from structural variables, such as government and business downsizing, job exportation, automation, a reduction in the number of new and existing businesses, an increase in the number of people looking for jobs, and a recessionary economy where fewer goods are purchased and, therefore, fewer employees are needed.Corporate downsizingThe corporate practice of discharging large numbers of employees. Simply put, the term downsizing is a euphemism for mass firing of employees.Job exportationThe relocation of jobs to other countries where products can be produced more cheaply.automationA type of technology in which self-operated machines accomplish tasks formerly done by workers; develops as a society moves toward industrialization and becomes more concerned with the mass production of goods.split labour marketthe existence of primary and secondary labour markets. A primary labour market refers to jobs that are stable and economically rewarding and have many benefits; a secondary labour market refers to jobs that offer little pay, no security, few benefits, and little chance for advancementbehaviour-based safety programsA controversial health and safety strategy used by business management in which health and safety problems in the workplace are attributed to workers' behaviour rather than to work processes and conditions.flextimean option in work scheduling that allows employees to begin and end the workday at different times as long as they perform a given numbers of hours of work per weekjob sharingA work option in which two people share and are paid for one jobcompressed workweekWorkplace option in which employees work a full week, full time, but in four rather than five days.telecommutingA work option in which workers complete all or part of their work at home with the use of information technology