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Sociology Section III
pancakes
38
Social Studies
12th Grade
04/28/2016

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Term
Power Elite (Mills)
Definition
controllers of political, economical, and military
Term
Interlocking directorate (Mills)
Definition
guy sits on a board for more than one company.
Term
mass society (mills)
Definition
society in which prosperity and bureaucracy have weakened traditional social ties."
Term
Policy Planning Network (Dom)
Definition
The upper class influence this primarily through the policy formation process: the means by which general policies of interest to the ruling class as a whole are developed and implemented.
Term
Power (Dom)
Definition
ability to cause unseen effects on others.
Term
Think Tanks (Dom)
Definition
Wealthy hire experts to find results that support wealthy people.
Term
Foundations (Dom)
Definition
Wealthy people use these to fund think tanks.
Term
Business roundtable
Definition
conservative group of chief executive officers of major U.S. corporations formed to promote pro-business public policy
Term
deindustrialization
Definition
the shift from a manufacturing base to a service based economy
Term
Neoliberalism
Definition
New liberalism.expand markets, reduce government, reduce taxes
Term
OSHA
Definition
standards for working conditions.
Term
PATCO
Definition
airway people got fired. he talked about this.
Term
NLRB
Definition
Designed to fairly solve disputes between workers and businesses. during u-turn, pro-business people were elected.
Term
Political embeddedness
Definition
Corporate Political embeddedness: Making activities legal that were previously illegal. think endogenous institutions.
Term
Federal Commission Act
Definition
Made political contributions to corporations illegal.
Term
PAC
Definition
an organization that raises money privately to influence elections or legislation, especially at the federal level.
Term
Federal Election Commission
Definition
regulate the campaign finance legislation in the United States.
Term
SUN-PAC ruling
Definition
ask
Term
Economic recovery tax act of 1981
Definition
Reagan tax cuts. Helped businesses and the wealthy. also reduced social programs and reduced social and economic regulation.
Term
stock option
Definition
contract between two parties in which the stock option buyer (holder) purchases the right (but not the obligation) to buy/sell 100 shares of an underlying stock at a predetermined price from/to the option seller (writer) within a fixed period of time.
Term
managerial class
Definition
fuck, dude, i don't know.
Term
tax reform act of 1986
Definition
second reagan tax cut. broadened tax base, eliminated tax shelters, and simplified tax base into three classes.
Term
Multilayer subsidiary form. Details are honestly kinda sketchy.
Definition
create opportunities to engage in financial malfeasance
Term
Gramm-Leach-Bailey Act
Definition
federal law enacted in the United States to control the ways that financial institutions deal with the private information of individuals.
Term
Glass Steagall Act
Definition
prohibits commercial banks from engaging in the investment business. It was enacted as an emergency response to the failure of nearly 5,000 banks during the Great Depression.
Term
Commodity Futures Modernization Act of 2000
Definition
officially ensured modernized regulation of financial products known as over-the-counter derivatives.
Term
Enron loophole
Definition
Loophole in the Commodity Futures Modernization Act of 2000 exempted many high-risk derivative trades from regulation
Term
Great Recession
Definition
culmination of financial crisis of 2008 and subprime mortgage crisis of 2007
Term
Enron bankruptcy
Definition
accountants entered deficits as surpluses. this information resulted in enron's subsidiary actually losing money.
Term
subprime mortgage
Definition
type of loan granted to individuals with poor credit histories
mom talked about this.
Term
derivative
Definition
security with a price that is dependent upon or derived from one or more underlying assets. The derivative itself is a contract between two or more parties based upon the asset or assets.
Term
Troubled Asset Relief Program
Definition
program of the United States government to purchase assets and equity from financial institutions to strengthen its financial sector
Term
Capital gains tax
Definition
Tax. On. Capital. Gains.
Term
investment income
Definition
income coming from interest payments, dividends, capital gains collected upon the sale of a security or other assets, and any other profit that is made through an investment vehicle
Term
economic/financial capital
Definition
economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products
Term
cultural capital
Definition
non-financial social assets that promote social mobility beyond economic means
Term
human capital
Definition
attainment of skills, knowledge, and expertise people acquire
Term
social capital
Definition
mutual obligations embodied in social networks such as kinship, friendship, and group membership.
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