Chapter 2 - Markets and Society Flashcards

(29 cards)

1
Q

Core sphere

A

Households, families and informal community groups

  • intrinsic motivated
  • not financially rewarded
  • makes up at least 25% of the GDP (statistic is rare)
  • mostly performed by women
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2
Q

Wie hoch ist der Anteil an unbezahlter Care Arbeit im Vergleich zu bezahlter? (GER)

A

1,7 x so hoch

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3
Q

Wieviel Minuten arbeiten Frauen in Deutschland mehr in unbezahlter care Arbeit?

A

Täglich 87 min

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4
Q

Wie hoch ist der Anteil der Arbeit die Frauen in der Privaten Pflege leisten?

A

2/3 der Arbeit

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5
Q

Wie hoch ist der Anteil Global an unbezahlter care Arbeit von Frauen?

A

2,5 x soviel wie von Männern

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6
Q

Puplic sphere

A

Governments and other local, national and international organizations established for some puplic purpose beyond individual or family self- interests, operating without the goal of profit making

-dependend on paid workers (smaller salery than buisness sphere)

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7
Q

Puplic good

A

A good whose benefits are freely available to anyone, and whose use by one person does not diminish its usefulness to others

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8
Q

Anteil von Government am german gdp

A

28%

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9
Q

In General Puplic sphere for development country’s in GDP

A

1/3 Of GDP

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10
Q

Critic of the Puplic sphere

A
  • too bureaucratic
  • inefficiency
  • inpersonal

WHO decides the agenda?

  • private donors ( ngo)
  • majority, minority’s ? (Governments)
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11
Q

Buisness Sphere:

A

Firms that produce goods and services for profitable sale (profit for owner)

Possible other goals:
- Corporate Citizen
(Responsible for employees and community)
- goals of individuals in the form ( fe CEO)

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12
Q

Strength of the buisness sphere ?

A
  • one clear goal
  • innovation (motivation financial reward)
  • efficiency (?)
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13
Q

Weakpoints of the buisness sphere

A
  • don’t care about externalities
  • pervers forms of innovation
  • consumers might not be aware and informed about the quality of their products
  • Monopol tendenzies
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14
Q

The informal sphere?

A

Buisness normally small in scale, operating outside government oversight and regulations
(Fe: Prostitution, Schwarzarbeit)

Anteil besonders hoch on developing countries

  • more work for women and undocumented migrants
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15
Q

Three definitions of markets

A

1) a Place to buy and sell
2) defined by product categories
3) „The market“ as economic System

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16
Q

Laisser-faire Economy

A

An economy with Little government regulations

17
Q

Strengths of the market as economic system

A

Economic growth

Prosperity

18
Q

Weakness of market economy

A

Poverty
Inequality
environmental degradation
Erosion of Social ethics

19
Q

Institutions ?

A

A way of structuring human activities based on customs, infrastructure and laws

20
Q

4 Classes of institutions

A

1) Individualist Institutions related to property and decision making
2) Social institutions of trust
3) infrastructure for the smooth flow of goods and information
4) money as a medium of exchange

21
Q

Property:

A

Ownership of assets by non-government economic actors

22
Q

What kind of institutions take care of ideas as property, ownership, markets, law and so on?

A

Individualist Institutions

23
Q

How is social trust as a institution managed?

A
  • in direct 1-1 relationships
  • reputation
  • cultural or religious norms
  • contracts
24
Q

Explicit Contract?

A

A formal, often written agreement about the terms of a exchange and may be enforced through a legal system

25
Implicit contract?
An informal agreement about the terms of a market exchange, based on a verbal discussion or on traditions and normal expectations
26
Physical Infrastructure
Roads, ports, railroads, warehouses, and other tangible structures that provide the foundation for economic activity
27
Infrastructure for information flow?
Internet, newspaper, Radio, Books
28
3 conditions of money as a medium of exchange
1) social Institution of trust ( money is what is accepted as money) 2) durable store of value, minimal handling and storage costs 3) Units of Account (Rechnungseinheit)
29
Time banking?
1 hour=1 credit -all services have equal value -social relationships and community spirit rises - especially valuable in times of crisis when it’s hard to find a paying job 500 Time Banks in USA: 50.000 Members