Etc market factors and negative externalities pg 126

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Etc.-Market Factors and Negative Externalities, Pg. 126Market FactorsPossible Market ExternalityLabour costsLower Wages, slavery, poverty,disease, hungerExtraction of raw materialsHabitat devastation, pollution,military expansionTransportation & DistributionInfrastructurecreation,pollution, etc. Disposal costsManufacturing & productioncostsAdvertisement&marketexpansionPollution, disease, habitatdestructionEnvironmentalpollution,resource depletionExploitationofchildren,conversion of relations ofreciprocityintomarketrelations, etc. Maintaining market-friendlylaws and regulationsCorruptions,militaryexpansion, distortion of thepolitical process, etc. -The explicit goal of Wal-Martis to sell things at the lowest cost. oIt even has a policy that a commodity that is unchanged from one yearto next be sold at a lower cost. oIn the US, it is the largest grocer, toy seller, and furniture retailer.
oIt is the largest private employers in MexicooWal-Mart is acting as Adam Smith’s “invisible hand”oPolanyi’s Paradox:In addition to the direct cost of an item (sticker price) there isan externalized costIn order to provide the lowest price, Wal-Mart forces thosecompanies that supply their goods to reduce production andlabour costs.In the US, this has resulted in the shutting down of hundreds offactories and the loss of thousands of jobs as companies shiftoperations to countries with cheaper labour costs. E.G. Hoover, vacuum company, has been selling vacuumsfor 100 years. Reported a 20% drop in sales because ofcheaper models being made in China for Wal-MartAs the sticker price goes down, the externalized costs go up. To produce goods at the cheapest costs, we must use up moreenvironmental and social capitaloWal-Mart donated over 3 million to favoured politician candidatesExerting political influence that dwarfs the normal democraticcitizen.Chapter 5: The Problems of Population Growth (pg.129)-Some modern research on the genetic structure of human populationssuggest that we are all descended from a relatively small number ofindividuals, and no more than few families, who lived in Central Africa.o15,000 years ago: 15 millionoTime of Christ: 250 millionoIndustrial Revolution: 700 milliono1950s: 2.5 billiono2000s: 6 billionoEven though it’s slowing down – 8 to 10 billion by 2030-Ideology of culture of capitalismoThe problem with population growth is a problem of the periphery.oThis ideology drives not only public perceptionof the issue ofpopulation growth but also the policies of governments andinternational agencies– U.N. oThese assumptions are legitimized by scientific theories oThis ideology leads us to blame the victimTo assume the people who suffer from the supposed evils ofpopulation growth – hunger, poverty, environmentaldevastation, and political unrest - are the ones who havecaused the problem.
The Malthusian vs. The Revisionists-Reverend Thomas Malthus, Essay on the Principle of Population (1798)o

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