Intro to Sociology: Work and Economy
Intro to Sociology: Work and Economy Introduction to Sociology
Popular in Introduction to Sociology
Popular in Social Sciences
This 3 page Class Notes was uploaded by Michelle Chang on Monday May 2, 2016. The Class Notes belongs to Introduction to Sociology at University of Wisconsin - Oshkosh taught by Jeremiah Bohr in Winter 2016. Since its upload, it has received 13 views. For similar materials see Introduction to Sociology in Social Sciences at University of Wisconsin - Oshkosh.
Reviews for Intro to Sociology: Work and Economy
Report this Material
What is Karma?
Karma is the currency of StudySoup.
Date Created: 05/02/16
1 Introduction to Sociology SOC 101 (Section 002C) *** Notes from class lectures Work and Economy Basic terms o Economy How societies are organized to meet individuals’ needs through production, distribution, and exchanges Composed of a series of institutions o Markets An area of exchange where individuals attempt to maximize their own advantage Subject to regulation o Monopoly Market situations in which there is no competition o Informal economy Reference to unregulated, “underground” organization of exchange Labor Markets o Labor market segmentation Division of market for labor distinct settings, with little change of movement between them o Primary labor market Highly skilled, well-educated labor High earnings, benefits Good job security o Secondary labor market Less skilled, less formal education Lower earnings, benefits More likely to exhibit unemployment/underemployment o Internal labor markets When levels of employment and wages within a firm are determined by internal administrative rules Positions filled through internal promotion Ex. salary scales o External labor markets When levels of employment and wages within a firm are determined by competitive factors Labor Market Signaling o Market signaling 2 Interpretation of manipulable characteristics as signs of unobservable traits Ex. how a person dresses as a sign of their work ethic Career Types o Bureaucratic Spending life moving up the ladder of an internal labor market for a single organization o Professional Spending life in some occupation but moving between different organizations Unemployment o Unemployment Share of the working-age, able-bodied population who are actively looking for work but cannot find it o Underemployment Share of the population Working fewer hours than they are willing, and/or Working jobs for which they are overqualified o Structural unemployment Occurs when total job seekers exceed jobs available Why is your boss stupid? o Peter Principle Employees tend to be promoted to a level above the point at which they are competent/efficient This process eventually creates incompetent management in any organizations The rich get richer… o The “Matthew Effect” The effect of cumulative advantage Applied to labor markets, the idea that accumulated wealth leads to opportunities to gain further income/wealth not available to others In other words, “the rich get richer and the poor get poorer” Theoretical perspectives on the economy o Functional The economy is efficient, eventually meets all needs Societal/economic health tied together o Conflict Structure of the economy is a reflection of class conflict o Symbolic interaction The economy reflects socialization 3 Individuals “inherit” their career paths through primary socialization Economic Systems o Capitalism Ownership by private individuals Wealth accumulates to owners, investors Prices generally set by market supply/demand Laissez-faire capitalism – the state does not intervene in market activity Regulatory capitalism – the state intervenes in market activity via regulation Economic Systems o Socialism State or worker-owned production Wealth distributed to everyone involved in production State may set prices for goods/services Market socialism – allowing markets to set prices for some consumer goods/services In practice… o Often difficult to find any society that is purely “capitalist” or purely “socialist” In the capitalist United States, we have… Public libraries Public education Medicare Green Bay Packers Convergence Theory o CT argues that as economic structure change, societal structures eventually mirror the economy o Examples in the U.S. Agricultural economy – competitive individualism, constitution and individual rights Industrial economy – “the career man,” suburban development Post – industrial economy – job/career switching, changing of “the American Dream”