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lecture 11-1 - Lecture 11-1 DIAMONDS MOVIE Multinational...

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Lecture 11-1 DIAMONDS MOVIE: Multinational corporation (MC) Actions reflect corporate goals Conflict theorists: multi-nationals exploit local workers and communities Conditions and wages would not be tolerated on such a large scale in US Environmental regulations not as strict as US US owned (MC) employ over 24 million people worldwide Their total assests = $14 trillion During 1980-99- 500 largest US corporations tripled their assets but at the same time: eliminated 5 million jobs Conflict perspective- Exploit local worker/communities Money that is earned- is rarely reinvested in the host countries 80% of the profit-ends up in the hands of MC, bankers, traders, and distributors MC perpetuate global inequality: Decision on when to develop certain products / where to market them Functionalism- host countries benefits from the creation of new jobs/better standard of living Corporations benefit from paying lower prices Capitalism—organizing economic life based on : Private ownership of the means of production
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