BUS682 ALL CHAPTER NOTES.pdf - BUS682 CHAPTER 3 February 3 2016 CASE STUDY REVIEW It would not be okay to judge Rockefeller based on todays standards

BUS682 ALL CHAPTER NOTES.pdf - BUS682 CHAPTER 3 February 3...

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BUS682 CHAPTER 3: February 3, 2016 CASE STUDY REVIEW It would not be okay to judge Rockefeller based on today’s standards because laws and social norm was different in his time. It was okay to be a monopoly because he STANDARDIZED the industry, created jobs. Bill Gates had the same argument. Monopolies are bad today because they do not allow for competition. Utilitarian Theory- Its okay to harm some as long as it benefits most people. Ex. Taxes. Standard oil was a net plus to society because as a whole society benefited from his standardizing of oil. Rockefeller justified his actions “ He had a divine roll to make money and give it back” Business Power pg 55. FINAL QUESTIONS -What is the dominance theory? What is the pluralist theory? What is the difference between the both? Pg. 64 Dominance theory- That corporations dominate society as a whole. Pluralist theory- That government, consumer, non for profit organizations dominate society as a whole. -Please summarize JAMES DUKE as discussed in the chapter. PG. 55-57 -What is POWER? Pg.58 . -Levels of corporate power? Does a corporation have powers to act a certain way? Pg 59 -There are seven corporate power sphere, of the 7 spheres of corporate power please list 2 of them. Pg.59 Economic, technological, environmental, legal, etc. - What did the rail roads change in America. pg 61 What does the story of the rail roads tell us about what changed because of the rail roads. ANWER: They standardized time zones. - Read “The rise and decline of corporate giants” then summarize the section as discussed in chapter pg.68 -NOT IN FINAL, BUT RECOMMENDED TO READ. Book: Democracy in America by Alexis T. - Please summarize “JP Morgan and Panic of 1907” as discussed in chapter. Pg.72 CHAPTER 4 February 10, 2016 Chapter 4 page 83 - Please summarize Mary Mother Jones case as discussed in the text. pages 83-86 -What is just price? What is market price? Know the difference of the two.
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- Usury : Lending of money for interest. What are usury laws? Makes it illegal for someone to let you borrow for an interest rate that is too high.
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