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Sociology Lec 6

Sociology Lec 6 - Sociology 155w Lecture 6 Dual Economies...

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Sociology 155w: Lecture 6 Dual Economies o Formal economy Ex of job: professor, any job that pays taxes o Informal aka “underground economy” Black market Drug dealers Garage sales Flea markets Two types of production o Capital intensive Typically situated in the “core” or in the “core’ segments of a transnational corporation Highly stable and well-educated labor force o Labor intensive Typically located in “periphery” sectors but also found in the periphery segments w/in a “core” industry Export industries Highly flexible labor force Globalization o A process in which peoples and nations are becoming more interconnected: Economically Culturally o Technological innovations and systems of communication key Economic globalization
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o A global economic system in which firms and financial institutions operate transnationally and where global economic interdependence influences both national and foreign policy o
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