Economic Transformations

Economic Transformations - free market without the...

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Economic Transformations “Post-industrial” Economy – Based on service work and high-tech positions From the tangible to the intangible – the creation and manipulation of symbols Mechanical to literacy skills – Speaking, writing, and computer knowledge Decline of labor unions , organized labor seeking better wages and benefits for members, resulting from the loss of highly unionized jobs and concessions that have included the dissolution of unions Increase in the contingent, temporary workforce – Manpower is now the largest employer Major Modern Economic Systems Capitalism: • Private ownership of the means of production • Pursuit of personal profit • Competition in a
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Unformatted text preview: free market, without the interference of government • Greater income disparity • Personal freedom from government regulations Som: • Public ownership of the means of production • Pursuit of collective goals • Centralized decision making • Democracy • Less income disparity • Personal freedom from basic needs- A mixed economy combines elements of both capitalism and som. Sweden, Great Britain, and France have an economic and political system known as democratic som, in which private ownership of some of the means of production is combined with governmental distribution of some essential goods and services....
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