This document discusses different economic systems and models of work. It covers capitalism, socialism, and mixed economic systems. It also addresses the industrial revolution, information revolution, globalization, and problems in the modern workplace like dual labor markets and workplace alienation. New forms of work have emerged with technology and include telecommuting, part-time and temporary work, and "McJobs" characterized by predictability, efficiency and lack of satisfaction.

1. Economy and Work

2. The
Capitalist
Model
• Capitalism: An economic system in which the
means of producing goods and services are
privately owned
• Pursuit of self-interest
• Market competition
• Private property

3. The Socialist Model
• Socialism: An economic system in which the means of
producing goods and services are collectively owned
• Limits to the right of private property
• Interest of the people over the individual
• Economy operates to benefit everyone

4. Mixed
Systems
• A combination of capitalist and
socialist principles
• Most countries have a
mixture of the two
• Two types:
• State capitalism – close
relationship between
government and private
business
• Welfare capitalism-privately
owned businesses a long
with extensive government
welfare programs

5. The
Economy
and
Politics
Types of political
systems:
Democracy:
Political system
in which power
is exercised by
people as a
whole
Authoritarian:
Political system
that denies
popular
participation in
government
Monarchy:
Political system
in which a single
family rules from
one generation
to the next

6. The Power of
Corporations
• Political economy: Economic and
political life of a nation or a region of
the world
• Corporations: Businesses with a legal
existence, including rights and
liabilities apart from those of their
members
• The largest 100 corporations
have more than $35 billion in
assets
• Three-fourths of all
corporate production
• Government and business
relationship

7. Monopoly
and
Oligopoly
Monopoly:
Domination of an
entire market by a
single producer
Monopolies emerged
at the end of the
nineteenth century
Sherman Anti-Trust
Act (1890)
Oligopoly: Domination
of a market by a few
companies

8. Conglomerates
• Conglomerate: A giant
corporation composed of many
smaller corporations
• Size=power
• Interlocking directorates:
Networks of people who
serve as directorates of
several corporations at
the same time

9. The
Importance
of Work
Source of income
Source of pride and accomplishment
Source of identity and self esteem
Provides meaning to life and and is a
major part of our adult identity

10. The
Industrial
Revolution
The first transformation at the
beginning of the nineteenth century
Rural and small towns
Most were employed in the primary
sector producing raw materials
Farming
Fishing
Forestry
Mining

11. The Industrial
Revolution
The Industrial revolution shifted jobs from
the primary sector of the economy to the
secondary sector
Transforming raw goods into products
Automobiles
Sewing machines
Furniture

12. The
Industrial
Revolution
Impact of the industrial revolution
Shift to factory work
Shift of jobs from rural to urban
Immigrants and factory work
Industrialization and prosperity

13. The
Information
Revolution
The 1950 and the emergence
of the tertiary sector
From factory to service work
Not all workers benefited
from this shift
Invention of the microchip and
the computer
White collar jobs

14. Deindustrialzation
Deindustrialization: The decline of industrial production
(after 1950)
Plant closings
Decline in factory jobs
Job displacement
Decline in pay and benefits

15. Globalization
Globalization of the economy: The expansion of economic
activity around the world with little regard for national borders
Multi-national corporations
Shifting jobs to low wage countries

16. Problems of
the U.S.
Workplace
The Dual Labor Market
Two separate labor markets
Primary labor market:
Occupations that provide
good pay and extensive
benefits to workers
Secondary labor market:
Provides low pay and few
benefits to workers

17. Problems
of the U.S.
Workplace
The Dual Labor Market
Primary labor market jobs tend
to be:
• Challenging
• Good pay and benefits
• More secure
• Room for advancement in one’s career

18. Problems of the
U.S. Workplace
The Dual Labor Market
Examples of primary labor market
job categories:
Professionals
Managers and executives
Some high skilled jobs in
factories

19. Problems of the
U.S. Workplace
The Dual Labor Market
 Secondary labor market-jobs:
Boring and routine
Low pay and few benefits
Less secure

20. Problems of
the U.S.
Workplace
The Dual Labor Market
Examples of secondary labor
market job categories:
Retail sales
Laborers
Telemarketing
Building maintenance

21. Workplace
Alienation:
Marx’s
View
Alienation-The experience of
isolation and misery from
powerlessness in the workplace
Work as a natural act
Alienation stems from the social
nature of work under capitalism
Capitalism distorts the social
nature of work

22. Workplace
Alienation:
Weber’s
View
Alienation: The
depersonalization of the
workplace and of society in
general due to modern society’s
rational focus on efficiency
Weber believes the cause of
alienation is the rational nature
of the organization of work
• Individuals have become detached from
the social and creative aspect of work
• Work has become highly impersonal

23. Workplace
Alienation:
Weber’s
View
Rationalization of society led to the
industrial revolution
Rational modes of action have
replaced tradition and custom

24. McDonaldization
and the
Rise of “McJobs”
George Ritzer and
McDonaldization
McDonaldization- defining
work in four principles:
Efficiency
Predictability
Uniformity
Automation
Workers become
automatons

25. McDonaldization
and the
Rise of “McJobs”
Characteristics of the McJobs
Work that involves simple tasks
Work that provides little satisfaction
Work that is predicable and
repetitive
Work that has become machine
driven
Work that is dehumanizing to the
worker

26. The “Temping”of the Workplace
Deindustrialization and the growth in part-time workers
Low pay
No benefits
Little control over their work

27. The Brave
New
Workplace
Telecommuting: Linking employees
to the office using information
technology, including phones and
computers
Function of the information
revolution
Telecommuting blurs the distinction
between home and work
Worker isolation