He says technology is eliminating the need for them because you can make chips much simpler with a computer than a human worker. So yes, it seems that the more technology we are creating the less highly educated workers we will need. Section 2 is where he goes on to talk about the working classes and how since 1990 the U.S job market is “hollowing” out. The high and low paying jobs are increasing while the middle wage jobs are all disappearing. The reason for the job market turning this way is the fact that technology hurts those who do physical work and helps those who work with their mind.
A firm’s performance is negatively impacted because it hires fewer employees, which decreases output and profit. Consumers and taxpayers end up paying for such costs through higher prices. The ability of the United States to stay globally competitive is diminished, thus efforts to cut costs push many companies to send jobs abroad. In the long-term, members of a union also become affected due to changes in the market environment—e.g. new entrants, including foreign competition within the domestic boundaries, so they may have to adapt to such changes by accepting lower wage rates.
The next stage is Depression, this is where there is a lengthy period of declining Gross Domestic Product (GDP) – this is where there is little to no customer spending (there is some increase in the rise of employment). The last stage is Recovery, this is where the business starts to get better; the customers increase their spending, the business starts to feel more confident in their products and profits & unemployment is still continuing. b) Describe what influence the recession stage would have on your chosen business. If Tesco go into the recession stage of the business cycle that would influence them to cut back on hiring new employees when their revenues and profits start to go down, and also the business might chose to stop buying new equipment and stop new
A more polite title for outsourcing has been called “transformational outsourcing” (Moyers). Large businesses are aware that the outcome of offshoring is “harsh and deep” and “without doubt, big layoffs often accompany big outsourcing deals” (Bloomberg). Transformational outsourcing takes the interest of corporate growth and begins “making better use of skilled U.S. staff and even jobs creation in the US, not just cheap wages abroad” (Bloomberg). These jobs created in the U.S., by outsourcing, cannot possibly equal or surpass the number of jobs lost or the number of families’ impacted by the amount of individuals the inevitable layoffs will ultimately touch. The business and foreign countries are the only benefactors in offshoring, our unemployment rate and economic status provide the obvious
Taven Parker Sociology 142 ID# 005350798 They stole our jobs! “‘Let’s make sure people are educated so they can fill the jobs of the 21st century’” (President Bush, “That Good Education Might Not Be Enough”, Gosselin, pg 1). To a young, naïve individual that doesn’t understand the ways of the world quite yet, this might sound like a promising statement. Let us forget about the fact that companies and corporations want to make more money, so they outsource their working positions to other countries so they can pay them less for the same job. Let us forget about billions of dollars that American companies save by paying foreign wages rather than our minimum wage.
This fact is the main drive for the statement “The World Is Flat.” The book is divided up into 17 chapters. The author talks in the first chapter about how the world has experienced 3 globalizations. The first one was brought on by countries globalizing the world as they explored and expanded their empires. According to the author, this lasted from 1492 until 1800, and during this time the main focuses were how countries could fit into the global competition and opportunities. The other main focus was for countries to go global and collaborate with other countries.
To a certain extent that is true and we give the employees many benefits as well as a portion of the sales of the month. The better and more sales we make, the more money goes into the employee’s pocket on top of that the benefits we offer. Interest groups such as self-proclaimed Maoists, Marxist, red neck revolt, New Anticapitalistic party, Roots of resistance believe that the lower class is being eliminated and treated unfairly. Many newspapers such as “the guardian” report that robots will eventually take over these menial jobs by 2030. NBC reports that the middle class is disappearing and will cause a mass shift of people from the middle class to the lower class by 60% in 2021.
“Discuss the extent to which multinational corporations are to blame for the problems associated with globalisation” (30 marks) Globalisation is the closer integration of countries due to a reduction of costs of transportation, communication and goods, services, money, capital, people and knowledge flowing more evenly. Globalisation has resulted in the formation and growth of large multinational corporations. Multinational corporations are companies that produce goods or services in two or more countries. One problem with globalisation is that when multinational corporations outsource a factory to an LEDC they are sometimes accused of exploiting workers. An example of this is Nike in Vietnam, in 2005 they were accused of running sweatshops and massively underpaying their workers, they were also accused of using children to also work in the factories.
In Inequality for All, Robert Reich’s central claim is that the middle class of America has rapidly declined, and that this middle class is crucial to a stable economy because it generates the real job creators. He describes how a large middle class launches the economy into a “virtuous cycle,” defining it in steps: productivity increases, wages go up, workers buy more, companies hire more, tax revenues increase, government invests more, workers are better educated, and so on. When this middle class diminishes in presence, the cycle goes in reverse. Wages stagnates, workers buy less, companies downsize, tax revenues decrease, government cuts programs, workers are less educated, and finally, unemployment rises. Reich believes that not only is the widening inequality gap—the absence of the middle class, that is––a threat to the economy, it is what is undermining the very core of American democracy.
Over the course of the last few decades globalization has turned the world into an integrated economy instead of what it has been for most of its history, a series of relatively isolated economies. The more trading that takes place, the more wealth is created, and global trade across international frontiers has created more wealth than ever before in human history, and had helped lift more people out of poverty than ever before. Because of globalization, democracy has become an international norm. With the ‘international norm’, democracy brings values that are very important for the welfare of the people and the economy. In poorer countries, globalization brings the chance to sell their relatively low cost labor onto world markets.