DSOC 1101 Lecture Notes - Lecture 1: Protestant Work Ethic, 18 Months, Radiography
12 Jun 2016
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Document Summary
General employment increased from 1970s to 2007, but since then general employment has decreased. Great recession (2007-2008) represented a substantial drop in economic demand. High unemployment due to lack of demand for goods & services. Gdp=consumption + investment + government + (exports-imports) Smith: if we increased gdp, unemployment will decrease. Smith: lack of innovation, failure to increase productivity. The economy is more about new ideas that create jobs. But this dynamism has been in decline over the past decade (p5) Variant on stagnation: other nations (china & india) have caught up with the us: great density of population more innovation. There is too much innovation, workers & firms can"t keep up. More sophisticated software technologies are going to bring civilization even closer to a near-workerless world forcing millions onto the unemployment rolls 6. Second half of the chess board based on moore"s law that microcomputers double in power every 18 months.
