New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Intro to Sociology: Work and Economy

by: Michelle Chang

Intro to Sociology: Work and Economy Introduction to Sociology

Michelle Chang

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Notes from class lecture
Introduction to Sociology
Jeremiah Bohr
Class Notes
Introduction to Sociology
25 ?




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.

Similar to Introduction to Sociology at UWO


Reviews for Intro to Sociology: Work and Economy


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

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”


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Kyle Maynard Purdue

"When you're taking detailed notes and trying to help everyone else out in the class, it really helps you learn and understand the I made $280 on my first study guide!"

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.