Lec1_1_10

Lec1_1_10 - how that change occurred. Course Themes 1) Firm...

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Lecture 1: History of American Business Fundamental Questions What is business? 1) Trade and commercial activity 2) Both an activity and a group of people What affects how businesses operate? 1) Expectations 2) Personalities of leaders in the business 3) Technology 4) Laws and regulations What is capitalism? 1) Freedom of economic activity 2) System in which people (capitalists) hold assets (capital) used to produce more goods and services 3) One primary feature: competition (multiple firms exist) Where does capitalism come from? 1) Individualist philosophy fostered by western philosophical trends 2) A legal system in which private property is protected It is important to note that these concept are not immutable; they are products of history. They have changed over time. Also, these concepts are influenced by human behavior and vice versa. The task of history is to recognize that there is change over time and then ask
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Unformatted text preview: how that change occurred. Course Themes 1) Firm Structure a. Understanding the structure of firms and businesses and how they evolve throughout history 2) Law and Business (Legal Regimes) a. What is the role of law in the world of business? 3) State and Business a. What is the role of the state (American Government) in business? How does government affect business? 4) Business and Society a. How does economic activity affect social structure? 5) Business Accountability a. To whom is business accountable? Shareholders? Perhaps, but in history this question is more complicated. b. Second, who benefits from economic activity? The many or the few? What about the social good? What about the environment? Structure of Course: 1) 1789-1865 2) 1865-1929 3) 1929-1973 4) 1973-2010...
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