Video Summaries - Video Summaries 7:41 PM Module 2...

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Video Summaries December 11, 2013 7:41 PM Module 2: Globalization Globalization's Effects on the Global Poor Is globalization good or bad for the poor? C.K. Prahalad’s opinion: both good and bad good: helped people get away from jobs that only pay $1 a day ex. China and India; more than 300 million people got out of poverty bad: tremendous split of inequality; income inequalities. Become dangerous because it creates division The richer you are, the more unequal distribution of wealth is If gini coefficient (one measure of distribution of wealth) is low when everybody had the same If you get to 50 or 60, then there are some very rich and very poor people Brazil, South Africa → very unequal society What happens in 20 years when income inequalities become so pronounce in China and India, or in South Africa? China’s big debate: ecology and harmonious society. Should we increase income (so that # of people in poverty get reduced) or income inequalities (so more social cohesion, but not reduction of poverty) or income mobility (poor people have chance/hope to get out of poverty trap)? If you work on 2, you will get socialism back again Module 3 : Impact of Government on Business Short Documentary on Listeriosis Outbreak * Maple Leaf food Listeriosis Outbreak * Major debate on the breakout and if it could have been preventable * Current government policies contributed to public health safeguards * Did the government do their job in inspecting? Critics say no *Maple leaf products contained listeriosis which is disease capable of taking away lives *it took more 3 weeks to discover the disease clusters of the germ suggesting an outbreak, should have been a signal and word put out that something could be up testing should have been done right away *companies use self-inspection system (government allowed) with low standards and no follow up procedures *no independent public health officer to watch over, government decision *changes in the industry which gave business more control have made it near impossible to do the job thoroughly, not finding time needed to do all inspection task
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Fight of the Century: Keynes vs Hayek - Round 2 Keynes’ Approach: -Government is doing a good job, helped reduce chances of a recession through data and research. -Thinks government should have spent more on war. Believes war is good and helps the country economically and financially. -Spending provides services and helps economy going. -Over-sight is needed in order to stay competitive. -Free markets are more prone to fail (against globalization). -Spend when times are bad. -Faster money velocity (money moving quicker in the economy. Just spend) Basically this gangster keeps rapping about how we have to spend more in order to keep the economy going. Keyne’s approach is also known as the top-down. We need the government to be involved as free markets are fragile and future is uncertain.
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  • Fall '11
  • smith
  • Management, bargaining power, Leadership Brand, sum competition, Keyne

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