... * Flight from conversation * Plasticity of Brains * Relationship between capitalism and democracy * Three main approaches to the political economy of the media Lecture 2: * Four great communication revolutions * Evolution and history of early Homo Saipan species * Common ancestor * Eight major developments in evolution * Third chimpanzee * Importance of Fire * Great Leap Forward * Surplus definition and importance to civilizations * Pre-Capitalist society surplus * C-M-C * Important developments of the Age of Kleptocracy * Second great communication revolution * Where it did and didn’t develop and why * Importance to society * Greek philosophers * Feudalism * Importance of 1492 and new world discovery * Third great communication revolution * Products of the revolution Lecture 3: * The catechism of capitalism * Change in the economic equation from feudalism to capitalism * Mindsets of society under feudalism * Mercantilism * Industrial capitalism equation * M-C…p…C1-M1 * Characteristics of the equation * Three Iron laws of Capitalism * Externalities * Role of banking and views of major economists on finance * Importance of a global system * Effect on policy * Who was the original leader in capitalism and whom were its successors * Owner-operated businesses * Role of slavery in...
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...by 2014. Such moves pose major risks for a multinational company like Pfizer: Lower prices create disincentives for quality control, and China’s hospitals, which rely on drug sales for profits, are pushing inexpensive locally made products. Until 2008 going global seemed to make sense for just about every company in the world. Western markets were extremely competitive, population expansion had slowed and incomes had flattened, and corporate operating costs were rising. Developing nations, by contrast, boasted population growth, rising salaries, relatively low wages, and a welcoming climate for foreign January–February 2014 Harvard Business Review 103 THE GLOBE Map Your Industry The Rise of State Capitalism in Emerging Markets State capitalism, which distorts the workings of free markets and...
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...So, the businessmen must give a regular supply of good quality goods and services at reasonable prices to their consumers. They must avoid indulging in unfair trade practices like adulteration, promoting misleading advertisements, cheating in weights and measures, black marketing, etc. They must give fair wages and provide good working conditions to their workers. They must not exploit the workers. They must encourage competition in the market. They must protect the interest of small businessmen. They must avoid unfair competition. They must avoid monopolies. They must pay all their taxes regularly to the government. In short, business ethics means to conduct business with a human touch in order to give welfare to the society. Need or Importance of Business Ethics Stop business malpractices : Some unscrupulous businessmen do business malpractices by indulging in unfair trade practices like black-marketing, artificial high pricing, adulteration, cheating in weights and measures, selling of duplicate and harmful products, hoarding, etc. These business malpractices are harmful to the consumers. Business ethics help to stop these business malpractices. Improve customers' confidence : Business ethics are needed to improve the customers' confidence about the quality, quantity, price, etc. of the products. The customers have more trust and confidence in the businessmen who follow ethical rules. They feel that such businessmen will not cheat them. Survival of...
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...Imperialism is the monopoly stage of capitalism | Lenin’s assertion | | Kimani, Tabitha Wangari –X74/3507/2011 | XEA 102:INTRODUCTION TO POLITICAL ECONOMYLecturer Fred NjonyoBachelor of EconomicsUniversity of Nairobi | 27-May-12 | Thesis describes the function of financial capital in generating profits from imperial colonialism, as the final stage of capitalist development to ensure greater profits. | INTRODUCTION In order for capitalism to generate greater profits than the home market can yield, the merging of banks and industrial cartels produces finance capitalism, the exportation and investment of capital to countries with under-developed economies. Then, such financial behaviour leads to the division of the world among monopolist business companies and the great powers. Moreover, in the course of colonizing undeveloped countries, Business and Government eventually will engage in geopolitical conflict over the economic exploitation of large portions of the geographic world and its populaces. Therefore, imperialism is the highest stage of capitalism, requiring monopolies (of labour and natural-resource exploitation) and the exportation of finance capital to sustain colonialism, which is an integral function of said economic model. Furthermore, in the capitalist homeland, the super-profits yielded by the colonial exploitation of a people and their economy, permit businessmen to bribe native politicians: labour leaders and the labour aristocracy : to politically...
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...1. Unrestricted Capitalism in America Determining the overall importance of the Homestead Strike in the American Civil Labor Movement requires the investigation to examine the reasons for which the common laborer moved towards unionism and, later, full-fledged strikes. The overarching structure of American capitalist society which grew significantly in the Progressive era which extended from post reconstruction into the early 20th century and consisted of the laborers of which was the most significant portion of the population; and the management which included a very select, miniscule percentage of the population. During this period agrarian work declined and did not have a large effect on the Labor Movement and the corresponding events...
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...Capitalism vs. Communism Throughout history, there have been many systems developed in order to have a better society. Two of the most analyzed, and debated systems that have tired to change an economy for the best are communism, and capitalism. Communism, and capitalism have been compared on many levels, such as why they will or will not work, and which one works better. Throughout this essay I will concentrate on the differences, and similarities of how each operates, along with the benefits, and problems that each of them produces. Both of these economic systems theories came about around the same time, in the late 17th to mid18th centuries. One of the main contributor for capitalism was Adam Smith, writing The Wealth of a Nation in 1776, and Karl Marx for communism publishing the Communist Manifesto in 1848. These both were looked as a manual or guide for achieving such advancements. Communism called for the people to not be selfish and work for the benefits of the community rather for their well being. It asks them to see that what benefits the whole, benefits themselves. Capitalism on the other hand is focused on working for individual growth, and personal ownership to provide wealth for one's self. Communism plans to have a higher power or government control the economy to create a better way of living, by which all goods are equally distributed. As capitalism wants the government to not play a big role in the system, but instead wants it to be up to private ownership...
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...role of corporation in society and its ethical influence on social responsibility. There have been arguments that capitalism and corporations are responsible for economic ills of the society. It is therefore necessary to understand the role of corporation and ethical influence if any. In other to address the problem stated above it is necessary to define what capitalism and corporation are, and give background insight through meaningful literature reviews. According to dictionary.com capitalism is an economic system in which investments, ownership and means of production, distribution, and exchange of wealth is driven and maintained mainly by private individuals or corporations, in contrast to cooperatively or state-owned means of wealth. A corporation on the other hand is a business organization created by its owners known as stockholders under authority of the law to exist continuously independent of its members; powers and liabilities (limited liability) separated from those of its members.(American Heritage Dictionary). The answer to the problem stated above may be embedded in the "not a cold mete or fallen from the sky" statement of Dr. Novak (Jennings, 2012, p.108). Role of Corporation In Society The problem to be investigated is the role of corporation in society and its ethical influence on social responsibility. There have been arguments that capitalism and corporations are responsible for economic ills of the society It is therefore necessary to understand the role...
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...Future Life (Library of the Mystic Arts)". Citadel Press. August 1, 1991. Wrote, “Most scholars have concluded that, in later times at least, there was no close personal tie between the individual Egyptian and the gods, that the gods remained aloof, that their relationship to humans was indirect, communicated to him by means of the king”. We must remember that there was no established book or set of teachings, as the Bible or the Qur'an, and few prescribed conditions of behavior or conduct. Humans were guided essentially by human wisdom and trusted in their belief in the goodness of the gods and of their divine son, the king. An important concept in Egyptian life was the idea of justice. Although the Egyptian was entirely subservient to the state, the king had the duty of translating the will of the gods. The universe had been created by bringing order and justice to replace chaos, and only through the continuance of order and justice could the universe survive. The law of nature, of society, and of the gods was all one whole, and it was the duty of the king to administer that law, which was guided by the...
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...Michael Hargrove Soc 4010/5010 Instructor Montez de Oca 10/19/12 Beyond Capitalism America Beyond Capitalism: Reclaiming Our Wealth, Our Liberty, and Our Democracy, by Gar Alperovitz claim’s that our political/economic system can no longer sustain equality liberty, and democracy to the American working class. Alperovitz argues that a radical change to our political-economic system is needed. He also believes that it is at the lower or grassroots level that this change has to take place, but that it is going to take some time and a lot of commitment on their part. An analysis of Alperovitz’s book America Beyond Capitalism provides a unique but radical perspective on overhauling our political/economical system. However, his perspective depends on the American working class people to create a new political/economic system in order to restore equality, liberty, and democracy. This idea is plausible, but reducing the federal government down to the city and state level is highly unlikely. Alperovitz claims that our political/economic system can no longer sustain our equality, liberty, and democracy for working class Americans. Alperovitz’s first argument is on equality. His concern is that globalization, changing technologies, and sectoral balances are creating a widening gap of inequality. The decline of labor unions has enabled the corporations to lead a number of campaigns that have challenged redistribution programs. Globalization has increased the influence of large...
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...companies that fail to pursue global opportunities risk being pushed aside by competitors. A firm’s global marketing strategy (GMS) can enhance its worldwide performance. The GMS addresses several issues. First is nature of the marketing program in terms of the balance between a standardization (extension) approach to the marketing mix and a localization (adaptation) approach that is responsive to country or regional differences. Second is the concentration of marketing activities in a few countries or the dispersal of such activities across many countries. Companies that engage in global marketing can also engage in coordination of marketing activities. Finally, a firm’s GMS will address the issue of global market participation. The importance of global marketing today can be seen in the company rankings compiled by the Wall Street Journal, Fortune magazine, Financial Times, and other publications. Whether ranked by revenues, market capitalization, or some other measure, most of the world’s major corporations are active regionally or globally. The...
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...Chapter 1 Introduction to Business & Economics Lecture Notes A. LEARNING OBJECTIVES After studying this chapter, students should be able to: 1. Discuss what you must do to be successful in the world of business. 2. Define business and identify potential risks and rewards. 3. Define economics and describe the two types of economic systems: capitalism and command economy. 4. Identify the ways to measure economic performance. 5. Examine the four different phases in the typical business cycle. 6. Outline the four types of competition. B. BRIEF CHAPTER OUTLINE I. Business: A Definition A. The Organized Effort of Individuals B. Satisfying Needs C. Business Profit II. Types of Economic Systems A. Capitalism B. Capitalism in the United States 1. Households 2. Businesses 3. Governments C. Command Economies 1. Socialism 2. Communism III. Measuring Economic Performance A. The Importance of Productivity in the Global Marketplace B. Important Economic Indicators that Measure a Nation’s Economy IV. The Business Cycle V. Types of Competition A. Perfect Competition 1. The Basics of Supply and Demand 2. The Equilibrium, or Market, Price B. Monopolistic Competition C. Oligopoly D. Monopoly C. COMPREHENSIVE LECTURE OUTLINE I. BUSINESS: A DEFINITION Business is the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy...
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...Boeing and Capitalism in the United States of America Abstract This study investigates American capitalism in a historic perspective. The paper then proceeds to examine the issue on a meso-level with its relation to the company Boeing. Finally it discusses the various entrepreneurial decisions and their impact on the success and failures of the corporation. The approach has been reading relevant historical books, finding articles on the Internet and interpreting different views and opinions such as the theories of Schumpeter and Fligstein. The research shows that the American capitalism has changed towards a greater use of intervention that differs from the very laissez fare conditions that were dominating in the beginning of American capitalism, though it is still not comparable with the European conditions. The company Boeing is being subsidized by the government, which can be characterized as crony capitalism, since the cooperation between these organizations helped Boeing develop a monopoly in the market of aircraft manufacturing. The entrepreneurial decisions in corporate strategy and structure have led Boeing to both peaks and disappointments. Table of Contents Introduction 3 Phases of American capitalism 3 Characteristics of the American capitalism 4 The Corporation and the State 5 Globalization 6 The 1992 EU-US Agreement 7 The technological development 8 Analysis of the abovementioned development and its reflection on American capitalism 9 Boeing...
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...uncoupled from employment, and capitalism has vanquished communism. Based on patterns of resource allocation and ownership, the world's economies can be categorized as market capitalism, centrally-planned capitalism, centrally-planned socialism, and market socialism. The final years of the twentieth century were marked by transitions toward market capitalism in many countries that had been centrally controlled. However, great disparity still exists among the nations of the world in terms of economic freedom. B. Countries can be categorized in terms of their stage of economic development: low income, lower middle income, upper middle income, and high income. Gross domestic product (GDP) and gross national income (GNI) are commonly used measures of economic development. The 50 poorest countries in the low-income category are sometimes referred to as least-developed countries (LDCs). Upper middle-income countries with high growth are often called newly industrializing economies (NIEs). Several of the world’s economies are notable for their fast growth; the BRIC nations include Brazil, Russia, India, and China. The Group of Seven (G7), Group of Eight (G-8), and Organization for Economic Cooperation and Development (OECD) represent efforts by high-income nations to promote democratic ideals and free-market policies throughout the rest of the world. Most of the world's income is located in the Triad, which is comprised of Japan, the United States, and Western Europe. Companies...
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...Society Of The Spectacle | Guy Debord Modernity and Post-Modernity | Reading Report By Maeve Lejeune Guy Debord’s book Society Of The Spectacle, published in 1967, explores the social control that capitalism and the media has on society (Jenkins, 2013). Debord was a French Marxist theorist (The European Graduate School, nd) who observed how society was affected by the decisions made by people in powerful positions. During Debord’s life and writing, social upheaval was deeply prevalent in the world. He wrote Society Of The Spectacle after WWII, the death of Adolf Hitler, and in the midst of the Cold War and Vietnam War. The book, Society Of The Spectacle, discusses modernity and post-modernity by identifying key influences that shape society and the way that people consume products and interact with each other. This report will discuss the book by highlighting the dominant themes of Capitalism, mass-production and consumption, and the influence of the media on society. The report will also use examples from the Holocaust to compare and contrast with the theories of modernity discussed in the Society Of The Spectacle. Society Of The Spectacle demonstrates Debord’s understanding of the divisions between classes and discusses the downfalls of Capitalism. Throughout the 221 theses, which make up the book, Debord suggests that the relationship people have with the world is not necessarily with the ‘real’ world. Society’s relationship with the world is based on the...
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...His concept of the community, while admirable, seems largely unrealistic in a large society. Although he believes society only lacks the institutions to foster this community, Friedman and Smith refute this view by showing the inherent self-interest individuals possess. Still, people do have some sense of selflessness and community, but capitalism, a proven structure, has allowed channeled self-interest to lead to a more prosperous and opulent society. Believing in the equality of opportunity, Cohen presents a valid criteria for any economic system. Milton Friedman’s view of capitalism can in fact lead to a lack of opportunity due to racial and socioeconomic differences. Smith, however, shows an alternative vision of capitalism by including some governmental involvement; specifically, he mentions the establishment of public schooling. With Smith’s view, he combines the efficiency of capitalism while minimizing some of its social costs; consequently, society as a whole should strive to emulate Smith’s...
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