SOCI 1251 Lecture Notes - Lecture 3: Pareto Efficiency, Anglo-Irish Big House, Fokker E.Ii
Document Summary
Disagreements: what is meant by these values, actual performance of our institutions, prioritizing different values, how much things could really be improved. Things are produced to be sold, rather than for free. These large corporations constitute to a lot of america"s gdp. Small corporations also exist and play an important role in economy: extremely weak labor unions. Labor union = organization of workers formed to protect their rights of interest: weak public regulation of the economy, not as much government regulation compared to other capitalist countries. Percentage of government employees in the labor force in the u. s. is less compared to other capitalist countries: nonmilitary spending is much less compared to other countries. Taxation is incredibly low: globalization (overall increase) Production - decreased: ownership, economic inequality in a wealth economy, high poverty rates, either very rich or very poor, political institutions: liberal democracy, winner -take-all, single-member-district elections. Each representative is elected from district in which only 1 candidate wins.
