How do the theories of Marable and Reich argue that racism is helpful (Reich) and even essential (Marable) to capitalism?
According to Manning Marable the society that we live in is divided according to social, ethnic, political and religious groups. This division is further dramatized due to the economic facets and needs of society. Racism thus furthers the divide of economy and capitalists structures in a competitive society require racism to ensure high profits. [Marable, 2003] Racism allows low wages to be paid and hence promotes growth for less capital.
According to Michael Reich's Segmentation Theory or the Divide and Rule, the ultimate goal for any firm in the society is to increase profits by any means whether exploiting a certain class, weakening...
As a result there is a difference in wages that creates a 'corporate ladder' which allows a disunity to grow and breeds competition so that employers see workers working harder and being more productive. [Reich, 1981]
Labor Economics Labor is a commodity that needs to be purchased for business activity. In the uncivilized world of the past labor could be exploited to the extreme, but in modern times trade union movement, increased public consciousness, health, safety and environmental regulations and labor regulations have meant that the near slavery condition of the past are totally unacceptable. Nevertheless, labor remains a commodity requiring efficient, humane and cost effective management to
Mock Qualitative Interview Questions and Answers What are your perceptions on employers hiring people with disabilities? Participant One: A majority of employers are skeptical about hiring people with disabilities. The type and severity of disability have a huge effect on the person been hired. While some employers are willing to give people with disabilities a chance to demonstrate their work capabilities, most feel it is burdensome and they would prefer to avoid
Economic Globalization Has the 2008 financial meltdown in the U.S. And the ongoing economic crisis in Europe have practically ended the era of economic globalization? Following the financial crisis that marred the U.S. economy along with other global economies as well as the ongoing Eurozone debt crisis, there have been projected concerns that this predicament would end economic globalization. The purpose of this paper is to assess this claim. Going by Immanuel
Economic Systems: An economic system is basically described as specific set of principles that addresses the production, distribution, and consumption of products and services. The involved parties in the production, distribution, and consumptions processes are usually determined by or dependent on the economic system. Throughout the history of humanity, different types of economic systems have evolved because different societies have placed varying emphasis on distinctive goals and priorities as part of
Labor, GDP and the Firm Labor is an important factor of production for all firms. The most recent unemployment rate is estimated at 9% (January 2011). Economists have identified three types of unemployment. Which type would affect Wal Mart? Explain. Fractional unemployment would have a major impact on Wal Mart. This is because the majority of Wal Mart's employees will receive salaries at minimum wage levels. In the event that someone quits,
Economics: Application of Concepts An Analysis of the Economic Situation in the U.S. In the last five years, we have seen the U.S. economy expand but at a pace that is seen as being relatively moderate. In conducting an analysis of the current economic situation in the U.S., I will largely limit myself to inflation, interest rates, and unemployment. Although the current economic situation is better than it was five years ago, there