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Darryn D'Souza
Darryn D'SouzaLv10
28 Sep 2019

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Related textbook solutions

Principles of Economics
2nd Edition, 2017
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ISBN: 9781947172364
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ISBN: 9781947172388
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Related questions

1. Punishment and obedience

2. Instrument and volatility

3. Interpersonal concordance

4. Law and order

5. The social contract

6. Universal ethical principles

a) Erin: This business violates every principle our country stands for! This is not what America is about. The government is wrong to allow companies like this exist. We are going to stand up for what America believes in and protest until the government passes laws to make this kind of business illegal!

Erin is at stage ________ because

b) Danielle: I'm really sorry about what happened, but it's not my fault. The leader of this group is vicious and dangerous. I had to go along with him, or I would have gotten into trouble. He might have hurt me.

Danielle is at stage ________ because

c) Jquaan: Look, all my friends belong to this protest group. I couldnâ' let them down. What kind of person would they think I am if I didn't climb the fence with them? I don't want my friends thinking I'm a coward!

Jquaan is at stage ________ because

d) Olivia: I'm not really one of the protesters. Some guy paid us $50 each if we would make the crowd look bigger for the television cameras. I'm just out for myself here. I'll even testify against them if you drop the charges against me and pay me a little something for my trouble.

Olivia is stage __________ because

e) Christopher: I cannot stand by silently while a company violates important principles that I believe in deeply. Human life is at stake. Prosecute me if you have to, but I'm standing by my principles.

Christopher is at stage ______ because

For questions 1, 2, 3, and 6 you are welcome to use Wikipedia. However, you should cite at least two other sources in each question. Your sources should be identified at the end of each answer. As you can see by now many of the assignments are very important to our understanding of the topics, but they have not been integrated as well into the course as I would like. This assignment is very different. Much of the discussion here is to better understand Latin America, a region of the world that we will need to skip because of time constraints. Some of you will be writing a country report about one that uses ISI. Some of this information may be useful to include in your report. Other sources you could consult are in the reference section of the library or you can ask a librarian for help. 1. What is Import Substitution Industrialization? (between 200-400 words) 2. Raul Prebisch was one of the prominent proponents of ISI, write a short biography of him (between 200-400 words) 3. Explain why Prebisch and others proposed ISI (up to 250 words). 4. Visit the site EconoMonitor and once there search for the article On Populism in Argentina (and other Latin American Countries) by Nicholas Magud published June 25th, 2008. Summarize it. 5. Brazil, Argentina, Peru, Mexico, and Bolivia among many countries followed both ISI and Economic populism. Visit the IMF site at www.imf.org and click on Data and Statistics, then click on World Economic Outlook Databases, select the October 2014 database,and select By Countries, next Latin America and the Caribbean. Find inflation in percent change for Argentina, since 1980 to date and graph the data in several sub-periods so it can show the different inflation rates better. In a couple paragraphs describe what you see. 6. Brazil, Chile, Peru, Bolivia, Argentina, and India followed ISI and different levels of Economic Populism, choose one of these five countries and explain when your selected country followed ISI and when it stopped following ISI? Why did your country stop using ISI? What were the consequences of ISI and Economic Populism in your country? (no less than 250 words and up to 700 words)

Case Study #3

TO WAL-MART OR NOT TO WAL-MART?

Wal-Mart is a $250-billion-a-year retailer. Eighty two percent of U.S. households made a

Wal-Mart purchase in 2002. It is the largest company in the world with a global

workforce of 1.4 million. Where Wal-Mart competes the average grocery prices are 14%

lower. In the past it was General Motors, IBM and other companies that were considered

to be the leaders in industry and the ones to watch. Now it is Wal-Mart that is being

studied in universities around the world.

At Wal-Mart, cost is king. Costs are kept low and this translates into goods being sold

for less. The entire organization is focused on reducing costs and passing those savings

on to the consumer. This allows poor people to buy food and other necessities that they

otherwise might not be able to afford. In the U.S. it dominates sales in a number of

categories : 32% of disposable diapers, 30% of hair products, 26% of toothpaste, 20% of

pet food and 13% of textiles.

Wal-Mart simply has developed the most efficient methods for operating their business.

Their inventory management, through a network of scanners, computers, and at-the-ready

suppliers, makes it the leader in successful turnover of inventory. How can we blame

Wal-Mart for being the efficient cost conscious giant that it is?

The Wal-Mart phenomenon has occurred at the same time that high-paying skilled jobs

are being lost in the manufacturing sector. When these jobs are lost, the alternative often

means being employed at Wal-Mart at a much lower pay scale with reduced benefits

such as medical insurance. Its labor costs are twenty percent less than those at

unionized supermarkets, and sales clerks make less, on average, than the federal poverty

level ($8.50 an hour).

Barbara Ehrenreich* has described the problems faced by the under class, such

as waitresses and Wal-Mart employees. They barely survive on a day-to-day basis, living

from hand to mouth, with no reserves, no safety net, no medical insurance and almost no

prospect of improving their positions in life.

The loss of manufacturing jobs has affected the lifestyles of many people. What they see

is the reality of reduced opportunity with a permanent reduction in wages and standards

of living. They are trapped in a new marketplace, with diminishing expectations and few

alternatives to shopping at Wal-Mart. This is a change in our American culture--the

dreams have now been down-sized.

Is Wal-Mart the hero or the culprit? After all, low prices, competition, and growth have

all been mantras that Americans have been chanting all of our lives. We were

told that if you built a better mouse trap, everyone would come to you. Well, Wal-Mart

has built a better mouse trap. Is there any logic in our looking at Wal-Mart as a

contributor to the loss of some our middle class or is it just jealousy and sour grapes?

For one thing, its hard line on costs has forced many factories to move overseas.

Wal-Mart imported most of the items it sells. Environmental standards

are lower in these countries where these goods are manufactured than they are in the

U.S. This probably results in increased health issues and costs. In addition, shipment of

goods many thousands of miles to their ultimate destinations, involve utilizing the

world’s limited oil resources. When you add up all this, the cost of the goods may be

greater than if they were produced in this country.

Another issue is that Wal-Mart is a non-union employer paying wages that are below the

poverty level, with minimal health insurance coverage. As many employees cannot

afford the co-payment required for doctors office visits, when a medical crisis occurs they

are forced to use the emergency room facilities of local hospitals. The result is that the

community bears the direct cost of their medical treatment and the indirect, as well as

ancillary costs such as diminished work capacity, child care, etc.

There are other economic ramifications to the Wal-Mart explosion. When Wal-Mart

arrives in a town, “main street” erodes. Neighborhood stores that used to provide goods,

services and paid their workers well, are eliminated, uprooting families and ways of life

in the process. The Wal-Mart decision to saturate Oklahoma City, resulted in the closure

of 30 supermarkets.

If Americans shop with price being the only factor that determines where they

purchase their goods, doesn’t this mean the permanent down-sizing of our standard of

living? How can the local retail establishment survive when they can’t compete with a

Wal-Mart? Look at what has happened to the local supermarket, bookstore, hardware

and clothing store. The demise of these small business constitutes the loss of a middle

class of society in a community. We need to think: As consumers are we better off

paying a little more to enable the local merchants and their families to survive in order to

preserve the character of our communities and society or should we concern ourselves

with price only?

HERE IS YOUR DILEMMA:

You are the mayor of a small city in the West. You can’t worry about the 4,700 workers

at IBM and the other workers at technology companies who lost their jobs. Your problem

is a more local one.

A Wal-Mart representative has approached you about the possibility of building a super-

store within your city limits. The store would serve communities within a twenty-five mile

radius. The land that they intend to build upon would require new zoning. Wal-Mart

would expect a certain amount of property tax and other relief. If your city does not

want a super-store, you are certain that one of the other towns close-by would be happy

to accommodate their needs.

What studies would you require before deciding which way to vote? What ramifications

do you foresee with this new super-store? What would you ask of Wal-Mart before

agreeing to their request? How much input would you seek from the residents of your

city

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