...Does the capitalist free enterprise system improve justice in society? In what way does it do so? In what ways does it not? Explain and defend your overall conclusion? “Capitalism can be defined ideally as an economic system in which the major portion of production and distribution is in private hands, operating under what is termed a profit or market system (Shaw, Barry, & Sansbury, 2009, p.127).” Over the many centuries, capitalism has evolved from the emergence of capitalism during fifteenth and sixteenth centuries, mercantile capitalism, financial capitalism with the increased industrialisation and the intensified competition, to today’s globalised capitalism. Although, the names used to describe capitalism have been changed over the time, the dynamic nature of laissez-faire (to let people do as they choose) (Shaw et al., pp.131) in capitalism has never been changed. We have to admit that the free enterprise system has created the greatest productive power in all of our history and become the most influential socioeconomic system in the world. It is important that we understand the characters of the capitalist free enterprise system and how does this system work for our economy and society. Therefore, we are able to judge whether the capitalist free enterprise system improves justice in our society based on the moral principles. In the following paragraphs, it lists out important features within the capitalist free enterprise system and analyzes its strengths and...
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...Does the Capitalist system, overall, improve justice in our society? Discuss ways in which it does and ways in which it does not, then explain and defend your general conclusion. What is a capitalist system? According to Sansbury (2009). Capitalism Capitalism according to Sansbury (Pg 128, 2009) didn’t emerge until the renaissance in Europe during the fifteenth and sixteenth centuries. Capitalism can be defined ideally as an economic system in which the major portion of production and distribution is in private hands, operating under what is termed a profit or market system (Barry, V,. Sansbury, G,. and Shaw, W.H. (2009) Moral Issues in Business, 1st ed. Cengage Australia, Melbourne). Most businesses in Australia, New Zealand and the United States are privately owned. The State doesn’t control these private businesses nor does it tell the owners how much to produce or caps their earnings. These Countries are examples of Capitalism at work amongst the many businesses. Capitalism didn’t wholly arrive until the renaissance in Europe till the 15th and 16th centuries. Capitalism that emerged around that time was called ‘Mercantile capitalism’, as Industrialization increased so did the size and power of business. As competition intensified an industry’s survival came to depend on its financial strength to reduce prices and either eliminate competition or absorb them. To shore up their assets, industries engaged in ‘financial capitalism’, characterized by pools, trusts...
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...may argue that capitalism is a cruel economic system that has been known for the corruption, exploitation of poor people and where greed overcomes anything good. However, the majority will agree that capitalist system is best system in the world of economics. It drives people to do better, as the certain amount of effort will bring the same level of result. There are examples in the history where individual’s wealth was affected by the corporate greed, but with the government regulations history will not repeat itself the same way. Capitalism is all about choices and these choices are made based on the amount of economic benefit we receive at the end of the trade. The connection between the right to own property and the individual liberty has always been emphasized by classical liberalism. Whatever man produces through his honest work, through his own efforts, or what he acquires through voluntary trade with others must be considered rightfully his. The idea behind the free markets is to allow each individual to use his own knowledge and his abilities to improve financial freedom, and based on the knowledge and ability some men may generate more wealth then the others. When the founding fathers agreed that all men are created equal, the liberty, they thought, would come before the equality. The capitalism may not deliver equal earnings for everybody; it does provide an equal opportunity to earn higher income (EBeling p.607). In “A Capitalist Conception of Justice”, Irving Kristol...
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...Capitalism is an economic system based on the private ownership of the means of production, with the goal of making a profit.[1][2][3] Central elements of capitalism include capital accumulation, competitive markets, and a price system.[4] There are, however, multiple variants of capitalism, including laissez-faire, welfare capitalism, and state capitalism. Capitalism is considered to have been applied in a variety of historical cases, varying in time, geography, politics, and culture. Discussing the impact of capitalism on culture can be difficult. In what way is “capitalism” responsible for a given aspect of culture, indeed can any aspect of culture be said to be a product of “capitalism”? Yes, certain aspects of culture and society can be said to be a product of “capitalism”, but defining how and why something is said to be a product of capitalism is very important. Some of the key concepts relating to an analysis of the effects of capitalism on culture are profit motive, commodity, human desire, and the market economy. The capitalist system is based on private ownership and consolidation of the means of production, where the production of commodities is guided by profit motive to satisfy human desires Definition: Materialism is the importance placed on material possessions. Someone with a high level of materialism, described as "materialistic," considers material possessions to be central to their life and their identity, and focuses a good deal of their energy on acquiring...
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...BUSINESS ETHICS BY SHAW TEST BANK A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=business-ethics-by-shaw-test-bank Visit Our website: http://hwsoloutions.com/ Product Description PRODUCT DESCRIPTION Business Ethics by Shaw Test Bank, Business Ethics by Shaw – Test Bank A+ Graded Chapter 1—The Nature of Morality MULTIPLE CHOICE 1. Which of the following characteristics distinguishes moral standards from other sorts of standards? a. moral standards are purely optional b. moral standards take priority over other standards, including self-interest c. moral standards cannot be justified by reasons d. moral standards must be set or validated by some authoritative body 2. Choose the statement that gives the most accurate description of etiquette: a. the rules of etiquette are a fundamental branch of morality b. conformity with the rules of etiquette is sufficient for moral conduct c. etiquette refers to a special code of social behavior or courtesy d. the rules of etiquette are backed by statutory law 3. Our relationship with the law is best described by which of the following? a. To a significant extent, law codifies a society’s customs, norms, and moral values. b. The law is a completely adequate guide to the moral standards that we should follow. c. The law makes all immoral conduct illegal. d. Violating the law is always immoral. 4. Which of the following is not one of the four basic kinds of law? a. statutes b. constitutional...
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...In order to begin to understand and analyze Dr. Peffer’s Theory of Social Justice, we want to first look at the five main principles. These principles are a Modified look at John Rawls’s “Two Principles” of Social Justice (1971). These five modified principles include The Basic Rights Principle, The Maximum Equal Basic Liberties Principle, The Fair Equality of Opportunity Principle, The Modified Difference Principle, The Social and Economic Democracy Principle. First of all, The Basic Rights Principle addresses the very fundamental issues of Security and Subsistence Rights. The Security Rights are described as the institutional responsibility to uphold the physical integrity and protection against threats such as murder torture. Psychological threats are also included which I believe is a great and underestimated point since that is often the more detrimental kind of abuse. The concept of Psychological threats is very hard to apply internationally due to the fact that proof of harm becomes completely subjective. This subjective nature makes it hard to be universally applied. In terms of these states and societal groups not engaging in these ‘extra-juridical’ activities, I cannot say I fully agree. I believe that in certain circumstances where the Security Rights of one person who is has violated that of others, can and should be sacrificed to ensure the security rights of others. A common example would be the interrogation of a known suspect with information pertaining...
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...theory Functionalism – society based on value consensus. Members of society sharing common culture. In order to achieve this, two things needed: - Socialisation – helps ensure individuals share the same norms and values. Shows the way to act. - Social control – rewards for conformity and punishment for deviance. Controls behaviour. Inevitability of crime – functionalists see crime as inevitable and universal. Every society has crime. Two reasons why crime and deviance are in all societies: - No everyone is equally socialized into norms and values. Some are likely to be deviant. - Diversity of lifestyle and values. Different groups have their own subcultures with distinctive norms and values. Some may see deviant acts as normal. > Durkheim says in modern societies there is tendency towards anomie. The rules for behaviour become weaker and less clear-cut. This is because modern societies have a complex division of labour meaning individuals become more different from each other. Crime is more likely. Positive functions of crime – it also performs two positive functions Boundary maintenance - produces a reaction from society, uniting members in disapproval of criminals and reinforcing their commitment to shared norms and values. Adaptation and change – all change starts with an act of deviance. There must be scope to challenge existing norms and values and this will seem deviant in the short run. Criticisms - Durkheim says society requires deviance to function...
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...controversial issue in 1989. No doubt, fascism and communism had both lost their appeal after the collapse of the communism in east Europe. In the postwar period, the three ideologies-liberalism, socialism and conservation –came to accept the common goal of capitalism. ( Lee, 1990) However, it does not mean that capitalism is a triumph of the world. Jacques mentions that there are many types of Marxism. For instance, orthodox Marxism is produced by the unique history tradition. Therefore, when one specific communism is collapsed, it does not mean that the communism is collapsed. In fact, there still are states that pursue other types of communism. People reflect and become interested in Marxist if capitalism cannot bring them into utopian era. There is no way to say that ideologies are becoming irrelevant to the discussion of politics. Also, All human are political thinkers. We all have difficult thoughts and diverse perceptions when the things happen around us. Modern ideologies such as feminism and ecologism are witnessed. From the observations and judgments, we can find out our own belief of what our world is and what we ought to be. ‘equality , ’rights’ ,’freedom’ ,’justice’ are the expression that always appear in our life. Of course, different ideologists have different point of view. Simply, where people are congregate, there are ideologies. Ideology is definitely a dynamic tool to guide followers’ behaviors to achieve individual and community goals. Also...
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...Dependency Theory: An Introduction 1. Vincent Ferraro, Mount Holyoke College South Hadley, MA July 1996 Background Dependency Theory developed in the late 1950s under the guidance of the Director of the United Nations Economic Commission for Latin America, Raul Prebisch. Prebisch and his colleagues were troubled by the fact that economic growth in the advanced industrialized countries did not necessarily lead to growth in the poorer countries. Indeed, their studies suggested that economic activity in the richer countries often led to serious economic problems in the poorer countries. Such a possibility was not predicted by neoclassical theory, which had assumed that economic growth was beneficial to all (Pareto optimal) even if the benefits were not always equally shared. Prebisch's initial explanation for the phenomenon was very straightforward: poor countries exported primary commodities to the rich countries who then manufactured products out of those commodities and sold them back to the poorer countries. The "Value Added" by manufacturing a usable product always cost more than the primary products used to create those products. Therefore, poorer countries would never be earning enough from their export earnings to pay for their imports. Prebisch's solution was similarly straightforward: poorer countries should embark on programs of import substitution so that they need not purchase the manufactured products from the richer countries. The poorer countries would still sell...
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...ideology is totally opposite and against capitalist views. There is no competition in communism and wages and salaries are equal across all carers and work. In Communist theory, government leaders should only be temporary and used only to gear the population towards true order and then step down and let the work cycle continued. Many of the communist ideology is predominantly theory and is highly criticized by many nations. In today's day and age many countries have decided to opt out of the communist social structure because it is unpractical and does not provide true equality as theorized. Communism was a fairly modern ideology founded only about 120 years ago but has lingered throughout history. The majour man honoured with the creation of communism is Karl Marx who lived between 1818-1883 and was born in Germany but then fled to the United Kingdom. Marx was a major activist during the time period he lived in witch was the boom of capitalism. Marx joined a communist political party and was a newspaper journalist. He also wrote many books on his views most of which were considered communist. Marx's detested the capitalist ideology and saw many flaws...
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...Islamic world-view comprises religious values, cultural values, and universal values which can be accepted and respected universally and can visualize a consumer oriented marketing culture which can ensure a balanced synthesis of both the material and the spiritual dimensions of life which emphasize to maximize the welfare of the world and the world hereafter and can establish fraternity and socio economic justice. This descriptive study will attempt to provide a brief review of conventional marketing literature at the same time it will formulate and develop a definition of Islamic Marketing and its framework based on The Holy Quran, ×adÊth and Islamic Literature. Field of Research: Marketing Keywords: Islam, Falah, Marketing, Hikmah, Need, Mutual Consent, Tayyibat etc. 1. Introduction A proper historical account of ‗Marketing‘ began with early capitalism and sociological theories of the growth of consumerist culture. Although capitalistic society comprises three forms of capitalism—commercial capitalism, financial capitalism, and industrial capitalism the latest one is...
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...PM, you have to lead a political party and win the most seats in the HofC * The cabinet is chosen by the PM and they come from his political party * Makes most laws and goes through the process to enact them * Basically runs the government through the days * Cabinet ministers are given portfolios that they are responsible for * They research issues and help to propose laws from their portfolio * Ex. Agriculture, justice, foreign affairs are types of portfolios * Each cabinet runs their own affairs which is the day to day activity of the government. * Each cabinet minister has their own staff to help them Political Parties * Whoever has the most seats leads the government * Candidates run for election, party with most votes form government * Are considered organizations, anyone can join a party… even you! * Are a group of people who would solve problems of society in similar ways * Develop policies and platforms that represent their views * We can contact our MP who is part of a political party about any issues we have Legislative Branch * Has the House of Commons (HofC), the Senate, and the governor general * Debates, researches,...
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...“The American Dream” as defined by James Truslow Adams in 1931 is a national ethos of the United States in which freedom includes the opportunity for prosperity and success, and an upward social mobility achieved through hard work. Truslow states "life should be worse and poorer and fuller for everyone, with opportunity for each according to ability or achievement" regardless of social class or circumstances of birth. The idea of the American Dream is rooted in the United States Declaration of Independence which proclaims that "all men are created equal" and that they are "endowed by their Creator with certain inalienable Rights" including "Life, Liberty and the pursuit of Happiness." The American Dream is viewed by many Americans as not only an American pursuit, but also many Americans, most especially those citizens that identify themselves as Christians see this pursuit as a Christian right of passage. In the catechesis of Christian language the American dream has become synonymous with the being a Christian. In the minds of many Americans the American Dream is a Christian reward to faithfulness. The proliferation of the American dream through the vehicle of the “Prosperity Gospel” is a cause for the continuance of poverty in America. In this writing I plan to discuss the origins of the American, the canonizing of the American dream in scripture, and the growth of the Prosperity Gospel as an answer to the rising poverty rate in this country. ORIGINS OF THE AMERICAN...
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...the claims were unjustified. The exchange comes as Nike and Gap have recently produced social and environmental reports giving new levels of frank disclosure around problems in the companies' supply chains. Posts Tagged ‘reebok’ Nike Just Did It. What Are Timberland, Adidas, Reebok and Clarks Waiting For? Friday, August 7th, 2009 Soon after we released our “Slaughtering the Amazon” report, Nike got in touch with us. The report showed that demand for shoe leather is one of the key drivers of deforestation in the Amazon, as rainforest is cleared to make room for the expanding cattle ranching industry. So Nike was keen to make sure that their business wasn’t contributing to Amazon destruction. Over the last few weeks we’ve been working with the company, and the good news is that today Nike announced new standards that will keep leather from the Amazon out of their shoes. Equally importantly, they’re going to stick to those standards until there are guarantees that no leather or other cattle products from Brazil are coming from deforested Amazon land. The announcement from Nike is a very positive development, and our supporters have been vital to making it happen....
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...labour, yet the most famous are found in the teachings of Plato, Karl Marx and Adam Smith. The division of labour for Plato stems from the natural capacity of human beings. Plato believes people are naturally suited for specific jobs, it is not through the acquired skill that they chose what they will do in life. He states “…we must infer that all things are produced more plentiful and easily and of a better quality when one man does one thing which is natural to him and does it at the right time and leaves other things”(McNulty, 1975). Simply stating this indicates that one should not gravitate towards another job, as the result would be all but optimal for society. He states that division of labour is formed due to the diversity of human talent (McNulty, 1975). Simply put, not everyone is made out to be a basket weaver, blacksmith or baker, yet when society calls upon its members to meet its demand people while naturally do what they are naturally good at. Plato puts heavy focus on nature’s ability to decide what is best for the state or society. Plato adapts this philosophy from Socrates, whose prime example of the division of labour comes in his definition of a state. He states that in order for a community to exist they require a husbandmen, builder, weaver and a shoemaker (McNulty, 1975). The...
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