Capitalism
What is the primary goal of capitalism?
Profit and private ownership of the means of production.
Define “work” in sociological terms.
The link between individuals and society through production, distribution, and consumption of goods/services.
Define globalization.
Economic, cultural, and political interconnection across national borders.
What major transformation occurred during the Agricultural Revolution?
Domestication of plants and animals, creation of food surplus.
What is a labor union?
A collective resistance strategy where workers advocate for better pay and conditions.
Name the four conditions necessary for pure capitalism.
Private ownership, personal profit, competition, or laissez-faire government.
What is Marx’s term for the separation workers feel from their labor and products?
Alienation.
What is outsourcing?
Contracting labor overseas to reduce costs.
What did the Industrial Revolution introduce?
Factories, wage labor, urbanization, and mass production.
What has happened to the contingent workforce in recent decades?
It has grown exponentially.
According to your slides, what social issue does capitalism tend to increase?
Class stratification and social inequality.
What type of worker primarily deals with information and innovation?
Knowledge worker.
What is a sweatshop?
A workplace with extreme exploitation, poor conditions, and low wages.
What era followed the Industrial Revolution?
The Information Revolution.
What theoretical perspective emphasizes worker power and inequality?
Conflict theory.
What is “Rainbow Capitalism”?
When corporations market LGBTQ+ inclusion while still operating for profit and mixing activism with profit motives.
Define “service work.”
Providing services to clients, customers, or consumers rather than manufacturing goods.
What is “capital flight”?
Movement of capital from one nation to another for cheaper labor and lower taxes.
What caused the shift from manufacturing to service economies?
Automation, outsourcing, and technological change.
What does “collective resistance” mean?
Workers organizing together to challenge power structures.
How do capitalist ideologies shape other institutions like education or healthcare?
They promote competition, efficiency, and privatization within those systems.
How has the Information Revolution changed work?
Shifted from manufacturing to service and knowledge work, increasing telecommuting and long work hours.
What is the cost of globalization to U.S. workers?
Loss of manufacturing jobs and increased economic inequality.
Define “postindustrial economy.”
An economy based primarily on services, knowledge, and technology rather than manufacturing.
What is “corporate social responsibility”?
Efforts by corporations to appear socially or ethically responsible while still prioritizing profit.