business week 5
business week 5
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- How doe these relate to Aristotl'es teachings?
- Could relate the use value to the art of houshold management which is natural. then on the other hand could relate Value to the art of making money which is un-natural
- What three things does he feel you should do once you are rich?
- left to the familes of the decendents. bequefied for pulic purposes. or could be administered by its professors during his life.
- How does labor relate to the value of a commodity?
- the amount of time(labor) put into the commonidy ups the value of it.
- Kyosei's 5 points
- 1. trade must be beneficial for both parties 2. chating cannot be justified-trust is essential-respect each other 3. all people share the same hear, "we are all in the same boat" we shoud rescue those in trouble. 4. storms are to be feared less than human greed 5. keep a journal and write about affairs daily
- What is the duty of a rich person?
- to be responsibile with his money
- How does Ruskin feel wealth relates to power? and what where the three points he wanted us to consider?
- 1. wealth provieds power. 2. nominal wealth doesnt work 3. wealth proportional to number it provides power over
- Rockefeller, Jr.
- Added the 4th element of business includes...1. land 2. labor 3. capital 4. community
- What where Carnegies views of the advantages and disadvantages of competition?
- Law of competition alows for cheaper goods but with a price 1. inequities 2. industry in the hand of a few 3. law of competition is essential
- What are Carnegies view towards the accumalation of wealth?
- Says that getting rich is good because it allows the poor to have more, but if you are rich you have to be responsible with your money.
- What is the differenese betweeen use value and value?
- The use value is the value of the utility of which it is made for while the Value is the labor component of vlaue
- Kyosei
- Japanese business code of conduct. part of what rockefeller was saying companies and people in harmony for good of the community. core principles 1. respect for environment 2. respect for quality of peoples lives
- Carnegie
- In charge of US steel. Wrote the gospel of wealth wich states 1. the process of getting rich 2. responsibilities if rich. CREATED MASS PRODUCTION. Law of competition alows for cheaper goods but with a price 1. inequities 2. industry in the hand of a few 3. law of competition is essential
- Tawney
- Criticsm of the Catholic Church. Said that church can take 4 positions on changing economy and profits 1. Deny it's a problem; hope man escapes from the clutches of profits. 2. take it for granted and ignore-as religion has not business in such matters. 3. become agitated and force reform 4. accept it, criticize it, tolerate it and try to amend it
- Weber
- Says that hard work is glory and will get you to heaven. money becomes the metric-indicator of heaven and guage of hard work. this idea leads to the ultimate american capitalist values.
- Suptuary Laws
- Limitations on spending led to savings. this earned interest when put in banks and created investment capital that fueld americas industrial groth (e.g. steel, oil, R.R) that led to its might in the world.
- What were rockefellers view towards the involvement of business with the community?
- beleived that the comunity and business should be in harmony (Kyosei)
- Waht did Rockefeller believe were the purposes of business (industry)?
- to keep in mind the welfare of the employees as well as the making of profits. to be a form of soicial service.
- Ruskin
- Says that 1. wealth provies power 2. nominal wealth desn't work 3. wealth proportional to number it provides power over. Business can be legal but unjust (ex. Delta Airlines.) Lastly syas there there are tow economies 1. Political 2. Mercantile
- Why did Ruskin feel that "rich was a realativ term?
- Because your wealth depends on someone else being poor. Rich is only comprehensible in terms of its opposite.
- What does rockefeller believe are the four things needed to run a business?
- 1. land 2. labor 3. capital 4. community
- Marx
- Almost complete opposite of Emerson. thinks that abundance is a good thing and that scarcity is bad. Believes in four types of values 1. Use value 2. Exchange value 3. Price 4. Value (labor component)
- Friedman
- advoate of laissez faire. stated that managers should make as much money as possible for shareholders. companies fulfill social responsibility throught 1. production of goods and services 2. creation of jobs. in a sense agrees with rockefeller.
- what were friedman's views about business involvemnt with the community?
- beleived that companies should fulfill social respnsibilites by 1. production of goods and servies 2. creation of jobs