The Structural Transformation of Economy
An example that has many components for its popular iPhone and iPad made in low-wage countries
What is Apple?
The new transformation of the economy, including marginalizing millions, building in securement toward families and workers regarding their jobs, health care, and retirement.
What is the prelude to the economic crisis?
Formally known as food-stamps, this helped feed children living in poverty.
What is the Supplemental Nutrition Assistance Program? (SNAP)
They build ___, real and imaginary, to create separate spaces for each in the same place
What is walls?
The movement of people, goods, services, capital, and culture across national boundaries
What is globalization?
Magnified the new connections among all people across the world
What is new technologies?
Over a million SRO’S along with other low-cost rental housing have disappeared due to relatable trends. One which has to do with the process of converting low-income housing to upscale condos for the middle and upper-middle class.
What is gentrification?
Birth rates in states experiencing great economic declined between 2007-2010 because of this time in history
What was the Great Recession?
____could not afford ___ because of legal costs
What is Couples; divorce?
To engage in work activities not regulated by the government or reported to the Internal Revenue Service.
What is the Underground economy?
Has worldwide consequences
What is Debt Crisis?
In 2007 unemployment rates were rising dramatically, debt was rising and housing situations everywhere were bursting.
What is The Great Recession?
For couples, this is a common response to an economic crisis
What is Delaying Marriage?
Women are now liberated from needing men the way they once did
What is the decline of marriage?
Examples of ________:
investment in plants located in other nations, plant relocation within the United States, and mergers.
What is capital flight?
Independent Contractors that make wages but pay their own health care, retirement, and equipment
What is Homeshoring?
The numbers involving poverty will continue to drastically increase due to high unemployment because of this there are state and federal level policy decisions to reduce the aid to the poor
What is the safety net?
Couples cohabitated more and got married later on because of this sad historical time period
What was the Great Depression?
Estimated to be around a trillion, keeping individuals barely afloat
What is underground economy?
Joseph Schumpeter described a process inherent to capitalism; as the economic structure of capitalism matures, some sectors will lose out while others gain.
What is “creative destruction?”
Several forces depress the wages of workers
What is union membership, cooperations, and cooperate management?
In 2007 11% of households, a total of 13 million people lacked resources and dramatically struggled to get enough food.
What is food insecurity?
This term describes a decline in birth rates during the Great Depression
What is known as the “Birth Dearth”?
It forced families to adjust to a new lifestyle
What is shrinking consumption?
An indicator of _________ during difficult economic times: Consumers purchase products to do activities personally that they once paid others to do.
What is shrinking consumption/contraction of consumption?