Global Business and Society Flashcards
John Maynard Keynes
- Advocated using fiscal and monetary policies to mitigate effect of recessions- government intervention
- Policy of pump priming
- Thought by some as the savior of capitalism
Herbert Spencer
Social Darwinism (natural selection- survival of the fittest) Herbert Spencer
Max Weber
He wrote the “The protestant Ethic and The Spirit of Capitalism
Thomas Malthus
- English, Known by students as “Pop” for population
- Population grows exponentially while food supply grows arithmetically
- Shouldn’t interfere with natural checks on population growth; sickness, poverty, etc.
- Recommended abstinence for lower classes
- Majority of Humanity fated to subsistence level
John Stewart Mills
- British Political Philosopher
- Classic liberalism
- Child prodigy Greek at 3, Latin at 8/ nervous breakdown at 21
- Utilitarianism from Godfather Bentham
- The “no harm” principle/ theory of liberty
- Free exchange of ideas as an obligation
- Advocate of woman’s rights.
Robert Owen
- Welsh
- Believed in communal or cooperative movement
- philanthropist
- People are formed by nature and early experiences
- Utopian socialism
- New Harmony in Indiana
Karl Marx
- German
- “Das Kapital” “Communist Manifesto”
- thesis, anti-thesis and synthesis; every system contains seeds of its own destruction
- History is the story of Class struggle
- Philosopher, sociologist, economist and activist
- Laws of society- Product of forces/ inevitability/economic Darwinism
John Maynard Keynes
- Advocated using fiscal and monetary policies to mitigate effect of recessions- government intervention
- Policy of pump priming
- Thought by some as the savior of capitalism
John Kenneth Galbraith
Canadian born and educated
Taught at Harvard; part of FDR brain trust; advisor to Kennedy
Proponent of American liberalism and progressivism
Favored big government to balance big business and big unions
Advocated public spending to offset private spending- opposed “private wealth and public squalor”
Milton Friedman
- Economist- “the most influential economist of the second half of the 20th century…possibly of all of it.”
- advocated minimizing the role of government in a free market as a means of creating political and social freedom…including developing countries.
- Libertarian in approach- Favored school vouchers, privatization, legalization of marijuana, prostitution, etc.
Wall Street Reform Act of 2010-
Dodd-Frank will prevent the excessive risk-taking that led to the financial crisis. The law also provides common-sense protections for American families, creating new consumer watchdog to prevent mortgage companies and pay-day lenders from exploiting consumers. These new rules will build a safer, more stable financial system—one that provides a robust foundation for lasting economic growth and job creation.
Citizens United v. Federal Election Commission
The United States Supreme Court held that the First Amendment prohibited the government from restricting independent political expenditures by a nonprofit corporation.
Burwell v.Hobby Lobby
allowing closely held for-profit corporations to be exempt from a law its owners religiously object to if there is a less restrictive means of furthering the law’s interest. It is the first time that the court has recognized a for-profit corporation’s claim of religious belief,
Civil Rights Act of 1964)
The Civil Rights Act of 1964 is a landmark piece of civil rights legislation in the United States that outlawed discrimination based on race, color, religion, sex, or national origin.
Sarbanes-Oxley Act of 2002
The Sarbanes-Oxley Act (SOX) mandated strict reforms to improve financial disclosures from corporations and prevent accounting fraud.
Albert Einstein
come back
Federal Communications Commission
an independent agency of the United States government, created by Congressional statute to regulate interstate communications by radio, television, wire, satellite, and cable in all 50 states,
Food and Drug Agency
An agency within the US Public Health Service that provides a number of health-related services.
Federal Reserve Board
The governing body of the Federal Reserve System. The seven members of the board of governors are appointed by the president, subject to confirmation by the Senate.
Securities and Exchange Commission
A government commission created by Congress to regulate the securities markets and protect investors. In addition to regulation and protection, it also monitors the corporate takeovers in the U.S.
Administrative Procedure Act
is the United States federal statute that governs the way in which administrative agencies of the federal government of the United States may propose and establish regulations
Freedom of Information Act
The FOIA generally provides that any person has a right, enforceable in court, of access to federal agency records, except to the extent that such records (or portions thereof) are protected from disclosure by one of nine exemptions.
Sunshine Act of 1976
Open for public observation except Deals with litigation or future rule making Issues of personnel
Emma Lazarus
Her poet is inscribed on the statue of liberty
Universal Declaration of Human Rights
The Universal Declaration of Human Rights (Universal Declaration) is an international document that states basic rights and fundamental freedoms to which all human beings are entitled.
Bernie Madoff
The former chairman of the Nasdaq and founder of the market-making firm Bernard L. Madoff Investment Securities. Madoff, who also ran a hedge fund, was arrested on December 11, 2008, for running an alleged Ponzi scheme; his hedge fund lost about $50 billion, but kept it hidden by paying out earlier investors with money from later investors.
Foreign Corrupt Practices Act
A United States law passed in 1977 which prohibits U.S. firms and individuals from paying bribes to foreign officials in furtherance of a business deal and against the foreign official’s duties. The FCPA places no minimum amount for a punishment of a bribery payment.
Jeffrey Skilling
CEO of Enron
Milgram experiment
A series of social psychology experiments conducted by Yale psychologist Stanley Milgram, which measured the willingness of study participants to obey an authority figure who instructed them to perform acts that conflicted with their personal conscience.
“Just following orders.”
International Law against Torture
General principles based on so called “ Natural Law” -torture, cannibalism
Good Samaritan experiment
Forty students took part in an experiment which was ostensibly a study on religious education and vocations. In one building, they completed a questionnaire, then they were instructed to go to another building to give either a talk on jobs.
First the researchers found that it didn’t matter whether the participants were going to talk about vocations or about the parable of the Good Samaritan. Second, the “hurry variable” was significantly correlated to the helping behavior, that is, the more the participants were in a hurry, the less helping behavior they demonstrated. “Got to look out for number 1.”
Paul Tillich
Situational Ethics- Paul Tillich and “Love is the ultimate law.”
Immanuel Kant
“Always recognize that human individuals are ends, and do not use them as means to your end.”
Doris Lessing
Female Nobel Prize winner
Sharia
is the basic Islamic legal system derived from the religious precepts of Islam, particularly the Quran and the Hadith.
Common Law
the part of English law that is derived from custom and judicial precedent rather than statutes. Often contrasted with statutory law.
Civil Law
body of rules that delineate private rights and remedies, and govern disputes between individuals in such areas as contracts, property, and Family Law; distinct from criminal or public law.
Ban-Ki moon
The eighth and current Secretary-General of the United Nations.
International Court of Justice
a/k/a World Court (jurisdiction of disputes between countries and advisory opinions- 15 judges)
International Criminal Court
crimes against humanity, genocide, war crimes, crimes of agression
International Monetary Fund
184 members184 member countries comprise Board of Governors
24 person Executive Board
Permanent members: US, Great Britain, Japan, Germany, France, China, Russia, and Saudi Arabia
16 others elected for two year terms to regional groups
2,800 employees
Query: How is voting power determined?–BY country size!
World Bank
Composition of World Bank: US Japan Great Britain Germany France Voting rights weighted by annual contributions US has greatest say President traditionally from the US (Jim Yong Kim- naturalized US citizen)
Michio Kaku
He wrote Physics of the Future! and was in the video displayed in class about the future of technological growth.
Alvin Toffler
is an American writer and futurist, known for his works discussing the digital revolution, communication revolution and technological singularity.he focused on technology and its impact through effects like information overload.
Moore’s Law
is the observation that, over the history of computing hardware, the number of transistors in a dense integrated circuit has doubled approximately every two years.
employment at will
U.S. labor law for contractual relationships in which an employee can be dismissed by an employer for any reason (that is, without having to establish “just cause” for termination), and without warning.
pump priming
The action taken to stimulate an economy, usually during a recessionary period, through government spending, and interest rate and tax reductions.
tragedy of the commons
The tragedy of the commons occurs when a resource held in common by all, but owned by no one, is overused by individuals resulting in its degradation
categorical imperative
“Act only according to that maxim whereby you can at the same time will that it should become a universal law.”
by Immanuel Kant
GDP PPP
PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States.
median
The middle of a set of numbers, not the average
