Economy//Society is an accessible introduction to the ways in which economic exchanges are embedded in social relationships. Bruce Carruthers and Sarah Babb tackle big issues and real problems with analytical power and lively ideas. They offer rich and novel insights into such topics as advertising, consumer behaviour, the diffusion of innovations, conflicts in the work place, social inequality and the economic development of nations.
Chapter 7: Globalization
Have you ever looked at the labels on your jeans, your T-shirt, or your athletic shoes? If you do, you know that most of the clothes we wear in the United States are manufactured someplace else—usually in a less developed country where labor costs are cheaper. Although the headquarters of companies such as “the Gap,” “Nike,” or “DKNY” are in the United States, their factories are located in countries such as Malaysia, Vietnam, El Salvador, and Macao. This kind of international production can cause political controversy, because companies often move their production offshore to benefit from lower wages, lower taxes, and lax labor safety and environmental regulations.
While international production is bringing Third World labor to First World consumers, international consumption is spreading First World ...