Exam 13: The Economy and Work in Global Perspective

Professions are high-status,knowledge-based occupations that have five major characteristics: abstract,specialized knowledge;autonomy;self-regulation;authority;and altruism.

Which of the following does NOT occur in industrial economies?

Identify the occupational categories considered to be marginal jobs and explain why they are considered to be marginal.

______________ is the wealth (money or property)that is owned or used in business by a person or corporation.

Political sociologist Michael Parenti believes that political leaders treat the health of the capitalist economy as a necessary condition for the health of the nation and that the goals of big business (rapid growth,high profits,and secure markets)become the goals of government.This is reflective of the______________perspective.

All of the following are characteristics of professions EXCEPT:

______________ is an economic system characterized by public ownership of the means of production,the pursuit of collective goals,and centralized decision making.

Industrialization brings sweeping changes to the system of production and distribution of goods and services.______________refers to the processing of raw materials into finished goods.

Summarize secondary sector production and the typical characteristics of industrial economies.

Describe worker resistance and activism in the United States.

______________ refers to the group of people who contribute their physical and intellectual services to the production process in return for wages paid to them by firms.

Conflict theorists view the economy as a vital social institution because it is the means by which needed goods and services are produced and distributed.When the economy runs smoothly,other parts of society function more effectively.However,if the system becomes unbalanced,such as when demand does not keep up with production,maladjustment occurs (in this case a surplus).

Competition is reduced over the long run by______________,where members of the board of directors of one corporation also sit on the board(s)of other corporations.

______________ is the social institution that ensures the maintenance of society through the production,distribution,and consumption of goods and services.

Private ownership of the means of production-capitalist economies are based on the right of individuals to______________own income-producing property,such as land,water,mines,and factories.In the early stages of industrial capitalism (1850-1890),virtually all the capital for investment in the U.S.was individually owned.As workers______________ grew tired of toiling for the benefit of capitalists instead of for themselves,some of them banded together to____________________________ form a labor union-a group of employees who join together to bargain with an employer or a group of____________________________employers over wages,benefits,and working conditions.Under early monopoly capitalism (1890-1940),most ownership rapidly shifted from individuals to huge corporations-large­scale organizations that have legal______________ powers,such as the ability to enter into contracts and buy and sell property,separate from their individual______________ owners.Major industries,including oil,sugar,and grain,came under the control of a few corporations owned by shareholders.In advanced monopoly capitalism (1940-present),ownership and control of major industrial and business sectors have become increasingly concentrated.Economic concentration-is the degree to which a relatively small number of corporations control a disproportionately large share of a nation's economic____________________________resources.Today,many corporations are global in scope;transnational corporations are large corporations__________________________________________that are headquartered in one country but sell and produce goods and services in many countries.

Contingent work is part-time work,temporary work,or subcontracted work that offers advantages to employers but that can be detrimental to the welfare of workers.

Define contingent work and identify the role subcontracting often plays in contingent work.Also describe the three major types of unemployment.

Portions of contemporary sub-Saharan Africa have a relatively high rate of exports in commodities,and foreign direct investment is concentrated in mineral extraction.This is an example of production.

Symbolic interactionists suggest that______________factors include such things as vacation and holiday policies,parking privileges,on-site day-care centers,and other amenities that contribute to workers' overall perception that their employer cares about them.

According to sociologist______________,those who got wealthy from industrialization often engaged in conspicuous consumption and conspicuous leisure.