Race and Social Problems: Restructuring Inequality
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This isolates poor, inner city residents from the labor market compounding the concentration of poverty, welfare dependency , rise of unemployment, and physical isolation in these areas. City youth are also affected such as in New York City. The declines in education, health care, and social services and the dearth of jobs for those with limited education and training along with the decay of public environments for outdoor play and recreation have all contributed to fewer autonomous outdoor play or "hanging out" places for young people.
This in turn affects their gross motor development, cultural build-up, and identity construction. Children become prisoners of home relying on television and other outlets for companionship. Contemporary urban environments restricts the opportunities for children to forge and negotiate peer culture or acquire necessary social skills.
Overall, their ecologies have eroded in recent years brought about by global restructuring. When the oil crisis affected the world capitalist economy, economic restructuring was used to remedy the situation by geographically redistributing production, consumption, and residences. City economies across the globe moved from goods-producing to service-producing outlets.
Breakthroughs in transportation and communications made industrial capital much more mobile.
Soon, producer services emerged as a fourth basic economic sector where routine low-wage service employment moved to low-cost sites and advanced corporate services centralized in cities. Global cities such as New York and London become centers for international finance and headquarters for multinational corporations offering cross currency exchange services as well as buildup of foreign banking and trading.
Other cities become regional headquarters centers of low-wage manufacturing. In all these urban areas the corporate complex grows offering banking, insurance, advertising, legal council, and other service functions.
Economic Restructuring and Social Exclusion
Economic restructuring allows markets to expand in size and capacity from regional to national to international scopes. Altogether, these institutional arrangements buttressed by improved technology reflect the interconnectedness and internationalization of firms and economic processes. Consequently, capital, goods, and people rapidly flow across borders. Global economic changes and technological improvements in communications and information systems encouraged competitive organizations to specialize in production easily and assemble temporary workers quickly for specific projects.
Inequality and Politics in Thailand
Thus, the norm of standard, steady employment unravels beginning in the mids. Another shift in institutional arrangement involves public resources. As economic restructuring encourages high-technology service and knowledge-based economies, massive public de-investment results. Across many parts of the U. To remedy these cutbacks, privatization is installed as a suitable measure.
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Though it leads to some improvements in service production, privatization leads to less public accountability and greater unevenness in the distribution of resources. Soon free trade, flexible labor, and capital flight are used from Washington D.
Where the federal government focuses on mainly warfare-welfare concerns, local governments focus on productivity. Become an FT subscriber to read: Nissan eyes 10, job cuts in restructuring Explore the new agenda We live in a time of disruption but where others see difficulty, we see opportunity - not just to survive but to thrive.
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Economic restructuring - Wikipedia
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