Hurley
SYG 2000

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I. The Economy: Historical Overview
.....A. The Agricultural Revolution
.....B. The Industrial Revolution
..........1. New Forms of Energy
..........2. The Spread of Factories
..........3. Manufacturing and Mass Production
..........4. Specialization
..........5. Wage Labor
..........6. Women in the Mills of Lowell, Massachusetts
.....C. The Information Revolution and the Postindustrial Society
..........1. Service Work
..........2. High Technology
..........3. Information Revolution
..........4. Characteristics of the Information Revolution:
...............a. From Tangible products to ideas.
...............b. From mechanical skills to literary skills.
...............c. The decnetralization of work away from factories.
.....D. Sectors of the Economy
..........1. Primary Sector
..........2. Secondary Sector
..........3. Tertiary Sector
.....E. The Global Economy

II. Comparative Economic Systems
.....A. Capitalism
..........1. Private Ownership of Porperty
..........2. Pursuit of personal profit
..........3. Free competition
..........4. Consumer sovreignty
.....B. Socialism
..........1. Collective ownership of property
..........2. Pursuit of collective goals
..........3. Government control of the economy
.....C. Communism
..........1. All of Socialism plus:
..........2. Social and Political Equality
.....D. Democratic Socialism
..........1. Government Control of the economy
..........2. Free Elections
.....E. State Capitalism
..........1. Companies are privately owned but cooperate closely with the government
..........2. Limited Elections
.....F. Relative Advantages of Capitalism and Socialism
..........1. Capitalism has the highest rates of Economic Productivity
..........2. Capitalism and Socialism have the highest rates of Civil Liberties
..........3. Socialism has the highest rate of economic equality
.....G. Current Changes In Socialist Countries
..........1. Unproductive Economies
..........2. Unresponsive Bureaucracies
..........3. Free market Reforms

III. Work in the Postindustrial Economy
.....A. The Decline of Agricultural Work
.....B. From Factory to Service Work
.....C. The Dual Labor Market
...........1. Primary Labor Market - jobs that provide extensive benefits
...........2. Secondary labor Market - jobs that provide minimal benefits
.....D. Labor Unions - organizations of workers seeking to improve wages and
...............working conditions
.....E. Professionals
...........1. Theoretical Knowledge
...........2. Self-regulated training/practice
...........3. Authority over clients
...........4. Orientation to community rather than to self-interests
.....F. Self-Employment
...........1. Professionals: Lawyers, Physicians, etc.
...........2. Service Trades: Plumbers, Carpenters, Painters, etc.
.....G. The Postinductrial Economy
...........1. The "Temping" of the U.S.
...........2. Unemployment:
.................a. Ethnicity
.................b. Age
.....H. Unemployment Policy is set at national level by Government and Corporate Policy
..........................Control of the Unemployment Rate
............................Employer's Labor Market
..................------------------------------------------- 6%
......................Cross Over Point
..................------------------------------------------- 5%
..................
......................Employee's Labor Market
..................
..................------------------------------------------- 2%
.................. Full Employment
..................------------------------------------------- 0%
......I. The Underground Economy
.....J. Social Diversity in the Workplace
.....K. John M. Keynes' formula for controling the Boom-Bust Cycle of Capitalism:
............. GNP = P + I + G
..............GNP = Gross National Product (now Gross Domestic Product)
...................P = Personal Consumption
................... I = Interest and investment
...................G = Government Spending and Taxing
..............The Boom-Bust Cycle of Capitalism produces differential results ONLY during
..............BUSTS of -1% to -5% per year for poor and Working Class families to a +2%
..............gain for Upper Class Families

IV. The Workplace of the Twenty-First Century
.....A. New Jobs, primarily for Hispanics
.....B. Technology and Future Work
...........1. Deskilling employees
...........2. Displacement of labor force
...........3. Increased supervision
.....C. Technology and Computer Work
..........1. Computers are deskilling workers
..........2. Computers make work more abstract
..........3. Computers limit interaction
..........4. Computers enhance employer's control over workers
.....D. Corporations
..........1. Economic Concentration
..........2. Conglomerates and Corporate Linkages
..........3. 15 largest U.S. Corporations
..............Name..................Sales ($ Bil) Assets... # Employees
............General Motors.....132.4............190.0...........750,000
............Exxon....................103.2.............85.0.............98,000
............Ford.......................100.1...........180.5...........325,300
............AT&T.......................64.9.............57.2...........314,900
............IBM..........................64.5.............86.7...........357,300
............General Electric.......57.1............192.9...........276,000
............Mobil.......................56.9..............40.6.............65,600
...........Wal-Mart.................55.5..............20.6...........398,000
...........Sears......................52.3..............83.5...........403,000
...........Philip Morris............50.1..............50.0...........163.500
...........K-Mart.....................38.0..............18.9...........353,500
...........Chevron..................37.5..............34.0.............52,200
...........duPont....................37.2..............38.9...........129,000
...........Chrysler..................36.9..............40.7...........126,000
...........Texaco....................36.8..............26.0.............38,900
.........4. McDonalds operates more than 15,000 restaurants around the World
.....E. Corporations and Competition
.....F. Corporations and the Global Economy
.....G. Does the Market Serve the Public Interest?

V. Looking Ahead: The Economy of the Twenty-First Century

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