PRESENTED BY: JAKE, JUDY, DANIEL, AND GAGE Economy & Politics

Global Economic Systems

Capitalism Private ownership of property Competition in producing and selling Businesses rely on supply and demand Makes for a more creative and driven society

Socialism Public ownership of the production of goods and services Collective ownership of property Cooperation No profit motive Collective goals

Communism Political and economic system in which property is communally owned and all people are considered equal. (LOL look at North Korea) This is like socialism but it is forced on the people unlike socialism which is chosen

Mixed Economies Welfare Capitalism- combines private ownership of property, market competition, and a government’s regulation of many programs Crony Capitalism- based on close relationships between business people and government

Corporations and the Economy

Corporations Organization that has legal rights, privileges, and liabilities apart from its members Conglomerates- corporation that owns a collection of companies in different industries Interlocking Directorates- the same people serve on the board of directors of different companies

Work in US Society Today

Deindustrialization and Globalization The reduction of industrial activity resulting in social and economic change Basically its cheaper for robots and Asians to work so companies outsource jobs

Offshoring and Labor Unions Offshoring- AKA out sourcing, when companies hire workers in other countries so they can pay them less money. This normally results in a lack of openings in the job market causing times of economic distress. Its pretty bad for the working class but rich people don’t care. Labor Unions- some people argue that Unions are no longer needed in society and others believe they are needed now more than ever in order to protect workers and their job security

How Americans’ Work has Changed By the year % of all US employees are expected to be replaced by computers Many people are working part time jobs involuntarily because they cannot find suitable employment Through the unemployment rate surged but now seems to be getting back under control (depending on who you ask) because some research doesn't count those on disability.

Sociological Explanations of Work and the Economy in US

Functionalist Capitalism benefits society; work provides income, structures peoples lives, and gives them a sense of accomplishment

Conflict Theory Capitalism enables the rich to exploit other groups; most jobs are low paying, monotonous, and alienating; productivity isn't always rewarded

Feminist Theory Gender roles structure women’s and men’s work experiences differently and inequitably

Symbolic Interactionist How people defines and experience work in their everyday life affects their workplace behavior and relationship with coworkers and employees

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