AmstLectureNotes5

AmstLectureNotes5 - L.A. Economic Changes o Dropping...

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Economic Changes o Dropping Profits International Competition Economic Restructuring o Subcontracting o Globalization of the production process o Outsourcing Deindustrialization Bifurcated economy Economic Restructuring Control costs o Price of labor Subcontracting o Moving companies/support stations oversee due to cheaper labor o Cheaper to have factories overseas where labor is cheaper and ship back then pay US labor laws Deindustrialization 1970’2 – 1980’s o Loss of manufacturing jobs Deindustrialization o Rise of aerospace/high tech jobs Reindustrialization 1991 o Break up of soviet union o Berlin wall fell Bifurcated Economy Shrinking of middle o Loss of manufacturing jobs Due to globalization (plants being moved to other countries) Growth of the top o High power o High levels of education, skill, talent Growth at bottom o Low paying jobs o No benefit jobs Textiles Janitorial Service jobs Work in big buildings that powerful work at
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AmstLectureNotes5 - L.A. Economic Changes o Dropping...

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