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32 Cards in this Set
- Front
- Back
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The Dominant institution of our time |
Corporation |
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What is a corporation? |
It's a group of individuals working together to serve a variety of objectives the principal one of which is earning large, growing, sustained, legal returns for the people who own the business |
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What is the dominant role of corporations in our lives? |
Productivity. By producing more sophisticated products. |
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The original purpose of corporations? |
I In both law and the culture, the corporation was considered a subordinate entity that was a gift from the people in order to serve the public good. |
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What gave an enormous growth to corporations? |
The Civil War and The Industrial Revolution |
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How does the 14th Amendment relate to corporations? |
By exploiting a loophole in the 14th amendment, stating that the "corporation is a person that can't be deprived of life,liberty or property |
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What is Incorporation? |
Incorporating would give companies limited liability. By applying for a charter as a corporation to the government, a corporation could operate ,under law, as a legal person |
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What legal rights does a corporation have? |
It can buy and sell property. It can borrow money. It can sue in court, and be sued. |
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What kind of person is the corporation? |
Corporations were given the rights, of immortal persons. Persons who had no moral conscience, designed by law, to be concerned only for their stockholders. |
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The bottom line of a corporation |
How to make as much money as they can in any given quarter |
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Incentive that makes capitalism work |
Profit |
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What does "externalities" mean in economic terms? |
An externality is the effect of a transaction between two individuals on a third party who has not consented to, or played any role in, the carrying out of that transaction |
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Why is a corporation considered as an externalizing machine? |
Because it is designed in a very efficient way, to accomplish particular objectives |
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Harms that a corporation may inflict on workers |
Layoffs Union Busting Factory Fires Sweatshops |
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How do corporations take advantage of workers? |
By offering work in exchange of low cost labor |
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How do countries benefit in the idea of being a export processing zone? |
Through the investment that's attracted to these countries there will be a trickle down effect |
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Demerit of a country being an export processing zone for corporations |
so many countries are now in the game of creating these free trade enclaves they have to keep providing more and more incentives for companies to come to their little denationalized pocket. And the tax holidays get longer. So the workers rarely make enough money to buy three meals a days let alone feed their local economy |
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Harm that corporations may inflict to human health |
Dangerous Products Toxic waste Pollution Synthetic chemicals |
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How does the petrochemical era relate to corporations? |
With the efficiency of being able to create any chemical by taking apart a petroleum chemical and rearranging it, corporations could create synthetic chemicals for any purpose at virtually no cost. |
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Demerit of the petrochemical era |
It posed hazards at our workplace, our consumer products, our air, our water, produced cancer, and also birth defects and some other toxic effects |
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Harms that corporations may inflict to animals |
Habitat Destruction Factory farming Experimentation rBGH/rBST Posilac |
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Harms that the corporation may inflict to the biosphere |
Clearcuts CO2 emmissions Nuclear waste Corporate paradigm |
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Why do corporations exhibit unlawful behaviors? |
If the chance of getting caught and the penalty are less than it costs to comply, people think of it as being just a business decision. |
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Why are corporations considered psychopaths? |
-Callous unconcern for the feelings of others -Incapacity to maintain enduring relationships -Reckless disregard for the safety of others -Deceitfulness: repeated lying and conning others for profit -Incapacity to experience guilt -Failure to conform to social norms with respect to lawful behavior |
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What forces a CEO to make tough decisions? |
A consequence of modern capitalism |
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Who creates wealth in enclosing the great commons? |
That wealth is only created when it's owned privately |
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Why are Public institutions better compared to private ones? |
Public institutions can have a counter cyclic property. So that means that they can maintain employment in periods of recession, which increases demand, which helps you get out of a recession. |
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In what way the people can represent as a tremendous force? |
Consumer power |
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Goal of corporations? |
Maximize profit and market share |
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A corporations goal for their target? |
They want the population to be turned into completely mindless consumers of goods that they do not want through developing "created wants" by imposing the philosophy of futility |
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How do corporations advertise? |
They produced brand meaning. The dissemination of the idea of themselves is their act of production. |
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How do corporations make a brand idea real? |
by building a three dimensional manifestation of your brand |
