ISS 215 1st Edition Lecture 8 Outline of Last Lecture I Social Institutions II Economical Institutions Outline of Current Lecture III Globalization of Economy IV Socioeconomic Consequences of Capitalism Current Lecture Globalization of Economy Globalization refers to economic and political interdependence of nations around the globe After war nations around the world alternate political and economic dominance because of dependence on one another as a result of the outcome of war World Bank IMF creating policies and imposing them onto poor nations World Trade Organization deals with international trade NAFTA North American Fair Trade Arraignment between USA Canada and Mexico anyone in this arraignment are free to do business with each other Cooperation among industrial nations Industrial nations are generally very rich rich nations using another rich nation as their market Third world debt Money that poor nations owe to rich nations is increasing dramatically Socioeconomic Consequences of Capitalism Environment Degradation deforestation for development Economic Insecurity jobs are not in individual control easy to be hired and fired Social Inequality o Inheritance of property o Inheritance of occupations Politics of Inequality Politics rules by rich and powerful These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Education and Economic Inequality If you have money you can go to school and get an education Legal systems and Economic Inequality Advertising and Consumerism advertising is based on manipulation of the consumer o Create perceived desire or needs for products that are not necessary o Planned artificial obsolescence o Influence on the contents of mass media o Over emphasis on consumer goods and services Strengths of Capitalism Social Darwinism
View Full Document
Unlocking...