Chapter 4: ECONOMY

BRITISH: 

Earning money:

-          Traditional:

ü      A major sign of Middle class  has been that you do non – manual work

-          Several  decades:  skilled manual ( blue- collar) workers paid more highly than lower grades of white – collar

-          Now :  > ½ workforce does non- manual work & majority describe themselves as working class

(Weaken connection btw class distinctions & types of work)

ü       Working day: start 8a.m (manual workers) -> 5p.m (+overtime)

                              start  9a.m (non-manual works)

ü       Normal lunch break   ≤ 1hours

ü       retire age: 65 (60 for women)

ü       Find work by:

Ø      newspaper

Ø      local  job centre ( run as government services)

Ø      privately run employment agencies ( take a commission from employees)

ü       Level of Unemployment has gradually risen ; most jobs opportunities are in service sector

ü       Heavy industry decrease

Ø      Less job 4 man, more 4 women ( law against sex discrimination in employment: passed in 1975 )

Ø      The average fulltime male employee earn more 50% > female

Work organization:

-          CBI ( The confederation of British Industry ):

ü       Represent: employers in private industry

ü       Give advices to trade unisons & government is quite influential

-          TUC ( The trade Union Congress )

ü       Voluntary association of country’s trade unions

ü       Represent: employees in all types of business

ü       The leader: most powerful in country & consulted by P.M

ü       Members: > ½ employed in country

è    1979: low restrict its power

-          NUF ( The National Union of Farmers )

ü       Represent: agricultural employers & independent farmers

ü       Many members, wealthy.

-          Most B. unions connected with particular occupation & belong to labor party.

-          There only 1 union 4 each group of employees (  no 1 4 each political party because it not form along party lines )

-          Unions have branches called  “ chapels”

The structure of trade & industry

-          “ Modernization” of business & industry happened later in 1960s when large corporations start to dominate and a “management class” begin to emerge

-          1980s: graduate business qualifications become newly hired managers

-          The decades following World War II: British industry performed poorly, British agriculture successes

-          Economic system: mix of private and public enterprise

ü      1945-1980: state had more and more control

ü      Since 1980:   “market forces” rules (restrict the freedom of business as little as possible) => state-owned companies turned into companies owned by individuals

ü      1988: More shareholders > members of Union in country

Privatization of services = “watchdog” organizations

Finance and investment

-          British: 1 of the wealthiest place in the world

Reasons:

ü      The preference for continuity and tradition > change

ü      The emphasis on personal contacts as opposed to demonstrated ability when deciding who gets important jobs => personal trust

ü      Stability and square mile of old City of London (concentrations of Insurance Companies, merchant banks, JS Bank, stockholders)

ü      Habit of secretary of Britain

-          Money: matter of cash in pockets and account in 1 of high street banks

Spending money: shopping

-          British: not very adventurous shoppers

ü      Like reliability: buy brand name goods anf prefer price clearly marked

ü      High proportion of country’ shops/ branches of chain stores

-          British: not demand art in shop window

-          In last quarter of 20th century: supermarket move out of town (to where have lots o free parking space) => turn into “hypermarkets”  (wider variety of items)

-          In town: local shops concentrated in “high street” (main street) => many are  for pedestrians (phố đi bộ)

ü      Specialize/ sell  especially cheap goods

ü      Charity shops/ discount stores

ü      Always have ≥1 food shop

ü      Some small high streets sell more expensive luxury items (even middle class use supermarket, it is not smart and fashionable places to shop)

-          Department stores slow to move out of town => 1 large town/suburb has ≥ 1 high street

ð      Each company run maximum branches in same region