ADMN 3400H Lecture Notes - Lecture 1: Corporate Capitalism, Mci Inc., Social Ownership
30 Mar 2020
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Document Summary
Current state of debate on democratic corporate capitalism. Distribution of the wealth: people that have it hold it, not putting it back into the economy, falling into a small percentage of the population"s hands. Dramatic increase in debt: how to deal with it. Corporate and financial corruption, financial industry out of control (example: worldcom, enron) Huge imbalances in global trade (especially us with china) Democracy: a form of government in which the people rule, either directly or through elected representatives. Capitalism: an economic and political system in which a country"s trade and industry are controlled by private owners for profit, rather than by the state. Corporate capitalism: corporate capitalism is a capitalist market economy dominated by hierarchical and bureaucratic corporation that control the factors of production and the amount of profits they generate, a few large corporations control the market. Salary, wages, consulting; example: people who have to earn a living.
