SOC207H1 Lecture Notes - Lecture 4: Social Protection, Capitalism, Mass Production
Document Summary
Work for one company and stay there for life, don"t need college degree for jobs, North america had basically the only industrial economy intact after wwii. Managers had control and firm size predicted wages. Factories were outline to make lots of only one thing. Making other things required more flexibility in production. The social contract between labor and capital. You get hired by a company and that company will have some obligation to you - mutual respect for workers and employment relationships and all of this is upheld by unions. Workers got good pay and job security, employers got labor peace (not strikes) and productivity. Government intervened on the side of workers to establish safety net and equity (equal pay act and civil rights act) Firm internal labor markets [film]: exchange security for loyalty. Career ladders moved up from entry level inside the company. Abstention by the government from intervening in markets. Free enterprise, market capitalism, free trade, non-intervention.
