Sociology 323

Economy & Society

January 31 – Economics For Everyone Part 3

Cooperation

The unstoppable rise of a collaborative economy: Shane Hughes

Employment

Full Employment - The condition in which virtually all who are able and willing to work are employed.

Employment – How many people in the labour force are employed?

Unemployment – How many people want to work but cannot find work? The count as unemployed, a person must be actively seeking work.

Participation Rate – The proportion of work-age population that participates in the labour market by working or looking for work.

Unemployment rate – The proportion of the labour force that can't find a job, despite looking for one.

Employment rate – The proportion of the working age population that is employed.

Employment

Non-Accelerating Inflation Rate of Unemployment (NAIRU)

If unemployment falls too low, wage pressures will be passed on by companies in the form of inflation.

Wages and Employment

Demographics and labour supply

Dividing the Pie

Transfer payment – Money or benefits given by the government.

Gini Coefficient 0 Figure that varies between 0 and 1 where 0 refers to perfect equality in a society and 1 is perfect inequality.

Richest People in the world

OECD Report on Wealth Inequality

Wage Levels

Job specific wage levels depend on the following factors:– Productivity of each industry– Profitability in each industry– Unionization and other industry-specific institutions

and practices– The specific skill of the particular worker.

Poverty

In most countries, poverty has grown notably because of neoliberal policies.

Absolute poverty – Measures whether an individual’s concrete material standards of living is lower than some arbitrary, fixed level.

Relative Poverty – Measures of poverty are based on a level of income that is enjoyed by the rest of society.

Environment

Environment: The Big Picture

Good vs Bad Growth

Responsible Investments

Socially Responsible Investing

Socially Responsible Investing StrandbergUN Principles of Responsible InvestmentsEducation and Training for Canadian EndowmentsResponsible Investment Association in CanadaESG Screening PossibilitiesResources: Community Foundations & Responsible Investing