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Economic Social Institution

Economic Social Institution. Social Structure in a Gesellschaft Society. Culture, Race/Ethnicity, Gender, Sexuality Social Class (SES = OIE), Religion, etc. Statuses Roles Groups Institutions. Social Structure. John Black, Male, AA degree, Auto Mechanic, 48 years old Lisa

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Economic Social Institution

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  1. Economic Social Institution

  2. Social Structure in a Gesellschaft Society Culture, Race/Ethnicity, Gender, Sexuality Social Class (SES = OIE), Religion, etc. • Statuses • Roles • Groups • Institutions

  3. Social Structure • John • Black, Male, AA degree, Auto Mechanic, 48 years old • Lisa • Black, Female, MA degree, Social Worker, 29 years old • Joe • White, Male, HS drop out, Single, No Children • Mary • Latina, Female, HS drop out, Single, Two Children

  4. Capitalism 1.) private ownership of companies 2.) profit driven 3.) market competition

  5. CapitalismFree Enterprise or Free Market • Laissez-Faire Capitalism • Unrestricted (anything goes) http://www.youtube.com/watch?v=bFH6fpxzTBU&feature=related • State or Welfare Capitalism • Regulated by government • Economic Freedom Index

  6. Capitalism & Modern Societies • Marx • Alienation • Weber • Iron Cage • Ritzer • McDonaldization of Society

  7. CapitalismSocialism Private ownership Gov’t controlled Profit Driven Profit immoral Market competition Competition immoral Good Good Individual Rights Greater Equality Not So Good Not So Good Greater Inequality Less Personal Freedom Culture: what does a country value more? Freedom (capitalism) or Equality (socialism)? Meritocracy tied to Capitalism Anyone can be successful if they work hard enough.

  8. Mixed Economic System or Convergence Theory Expansion of capitalism depends on creating consumers

  9. Globalization of Capitalism Structural Functionalism Variety and selection of inexpensive products Creates employment in developing countries Creates greater global interconnection Conflict Outsourcing of industries and jobs Abuse of environment and workers Global superclass (multinational corporations) http://www.screencast.com/users/rpsoc/folders/Jing/media/5130f8be-8dc7-418c-81c2-6c4a29073fda

  10. Corporate Capitalism Multinational Corporations Monopolies and Oligopolies

  11. University of Zurich (Switzerland, 2011) “Concentration of power is not good or bad in itself but the core's tight interconnections could be. As the world learned in 2008, such networks are unstable. If one [corporation]suffers distress this propagates.” http://www.screencast.com/users/rpsoc/folders/Jing/media/c06ff27a-0dd5-4f15-8f31-8f5613e6550c

  12. Jobs: Consumption Over Production http://www.pagetutor.com/trillion/index.html http://brillig.com/debt_clock/ Federal Budget: http://www.washingtonpost.com/wp-srv/special/politics/presidential-budget-2014/ Conspicuous Consumption andPlanned Obsolescence Latent Function: employment Latent Dysfunction: debt http://www.npr.org/blogs/money/2012/03/20/149015363/what-america-does-for-work Health of the Economy GDP and Budget, Employment, Median Income, Poverty World Fact Book (GDP) https://www.cia.gov/library/publications/the-world-factbook/rankorder/2001rank.html?countryname=United%20States&countrycode=us&regionCode=noa&rank=2#us

  13. 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

  14. Bureau of Labor Statistics, Unemployment: March 2014 All 6.7 Males 6.2 Females 6.2 By Race/Ethnicity Only By Education Only Asian 5.4 Less H.S. 9.6 White 5.8 H.S. 6.3 Hispanic 7.9 A.A. 6.1 Black 12.4 B.A. + 3.4 Over Time Unemployment: http://data.bls.gov/pdq/SurveyOutputServlet Labor Participation Rate Over Time: http://data.bls.gov/timeseries/LNS11300000 State: http://www.bls.gov/web/laus/laumstrk.htm

  15. Poverty: U.S. Census – 2012 Poverty Line Family (4) $23,492. Federal Minimum wage $7.25/hr. Overall Poverty 15%or 46.5 million Race/Ethnicity Asian 12.3 White 9.9 Hispanic 25.3 Black 26.7 http://www.census.gov/newsroom/releases/archives/income_wealth/cb13-165.html

  16. Poverty: U.S. Census – 2012 Households Married-couple families 6.3 Male householder 16.4 Female householder 30.9 Age Children 21.8 Seniors 9.1 For every $1 earned by men women earn .77 http://www.census.gov/newsroom/releases/archives/income_wealth/cb13-165.html

  17. Median Income: U.S. Census - 2012 1999: $55, 627. 2011: $51, 100. 2012: $51, 017. Asian $68, 636. White $57, 009. Hispanic $39, 005. Black $33, 321. http://www.census.gov/newsroom/releases/archives/income_wealth/cb13-165.html

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