Class notes for final
Class notes for final SOCI 120 - 012
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SOCI 120 - 012
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This 2 page Class Notes was uploaded by Michaela Humby on Tuesday December 1, 2015. The Class Notes belongs to SOCI 120 - 012 at University of Tennessee - Knoxville taught by Tobin N Walton in Fall 2015. Since its upload, it has received 78 views. For similar materials see Introduction to Sociology in Sociology at University of Tennessee - Knoxville.
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Date Created: 12/01/15
Deindustrialization trend in manufacturing jobs in developing countries that begin to disappear and those jobs are no longer based in 1St world countries and are shifting to other developing countries like Mexico and areas in Southeast and East Asia Mass shift in the manufacturing of goods from 1960 to present happens alongside inequality Mainly bluecollar jobs Leads to deterioration of lower classes Impacts loss of jobs opportunities so an increase of poverty mainly cities the rust belt Why does it happen Correlating variables the elimination of tariffs throughout the world could How would this relate to commitment to get government out of economic matter 111815 overall since the mid 1970s the US has increasingly become a two tiered society the shrinking middle class income wealth economic and health security for those in the middle classes and below has stagnated or declined while increasing for the upper classes the reemergence of economic liberalism economic freedom has not worked to the benefit of most Americans but has worked for the few wealthiest top 20 Alternative explanation shift high paying jobs to locations where wages and benefits are drastically lower to increase profits As the us middle class shrinks so too does its purchasing power Without middle class consumption declining rates of profits problem for the upperclass because they cant spend money on their stuff Shrinking middle class means capital credit increases drastically The extension of credit to the American middle class restored profitability to corporate interests Big bank and financial firms pushed for deregulation to increase their profitability largely off of buying and selling of DEBT Makes inequality even larger Free trade allowed for deindustrialization to happed neo liberalism economic philosophy