GLOBALZN 1A03 Study Guide - Midterm Guide: Consumerism, World Social Forum, Indigenous Rights

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raspberryseal185

17 Oct 2018

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However, what people fail to acknowledge is that the images of drowned immigrants are not inevitable, but rather the result of decisions and actions of many different actors globally. These event are in fact the consequences of the actions that we take, but they just come through in very complex and wide-ranging ways. This conclusion leads us to the two main points of the course: connections across the globe are greater than ever before, this isn"t just connections in terms of people. But things like goods, technology, and information as well. Well, since globalization is such a large and encompassing term, it has been difficult to pin down exactly what globalization is at its core. Everyone has their own opinion on what the term can mean, some examples being: diversity, consumerism, community, culture, communication, international business, social activism, modernization, innovation, sovereignty.

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Economics is nothing more than the study of scarcity and choice. It's called the Economizing Problem.

Economics is also the study of human action---why people make the choices they do.

We have finite (limited) resources and infinite (unlimited) demand for goods and services. We must, therefore, use rational decisions as to how to allocate these resources so that we can produce the goods and services that satisfy as many needs and wants as possible.

Needs are those things that make life possible---food, clothing, shelter, etc. Wants are the things that make life easier---glass in windows, carpet on the floor, a refrigerator to keep your beer cold, etc.

The resources we are trying to use wisely are not confined to money. We are talking about talent, ability, drive, ambition, etc. We can't all be brain surgeons. Nor would most of us want to be. We have different needs and wants that drive our ambitions. I have 5 grandchildren. The oldest two are twins---a boy and a girl. My granddaughter graduated from Idaho University with a bachelor's and a master's degree in accounting in 5 years. She passed the CPA exam on the first try. She now lives in Panama and works for BMW. She speaks, reads, and writes 4 languages, including English. Her brother finally graduated from the University of Arkansas in May 2016 after 8 years! Why did it happen this way?? They were raised the same way by the same parents. Why was my granddaughter drove to succeed and my grandson so listless?

Then there is subjective valuation and opportunity cost. Opportunity cost is nothing more than what you have to give up to do something else. Some of you might have to roll out of the bar or the party a little before you wanted to leave just to be able to attend my class. You might also have to give up some precious sleep. In any event, you had to give up something to attend my class. That's the opportunity cost. Remember, everything you do has a price (opportunity cost) that must be paid according to Harry Browne who wrote, How I Found Freedom in an Unfree World.) To do one thing you must give up the opportunity to do something else.

When people decide to buy a product or service they must decide if it will satisfy a need or want at a price they are willing to pay. The number one reason that people buy the products or services they do is called Personal Tastes or Preferences (Subjective valuation). Everyone has a different price they are willing to pay for the same product or service. Something is only worth what someone is willing to pay for it. That's a subjective valuation. Each of us has a different intensity of demand for the same products. Things you want I may not care for at all, and the opposite may also be true. This is why there is such a variety of goods and services offered on the market.

Subjective valuation is also fluid. As your income goes either up or down it changes your valuation of products and services. Have you ever wanted something so bad you would do almost anything to get it---an i phone or I pad?---but once you get the money you think, "do I really want this?' and you don't buy it. This is common. If it were not for a subjective valuation we would all be wearing the same style and color clothes and living in similar houses, etc. Wouldn't that be a wonderful world! I'd find the tallest building in downtown Orlando and see if I could fly! It is not the similarity in people that interests me. It's the differences. It's my desire not to be like everyone else that has driven my life. Don't strive to be someone else. Strive to find and be yourself. God save me from a terminal case of conventional wisdom!

There are 5 embedded questions.

Give me an example of subjective valuation.

salmoneel837

Please answer the question after reading the paragraph.

We have a global health challenge in our hands today, and that is that the way we currently discover and develop new drugs is too costly, takes far too long, and it fails more often than it succeeds. It really just isn't working, and that means that patients that badly need new therapies are not getting them, and diseases are going untreated. We seem to be spending more and more money. So for every billion dollars we spend in R&D, we're getting less drugs approved into the market. More money, less drugs. Now we have a whole pipeline of different organ chips that we are currently working on in our labs. Now, the true power of this technology, however, really comes from the fact that we can fluidically link them. There's fluid flowing across these cells, so we can begin to interconnect multiple different chips together to form what we call a virtual human on a chip. Now we're really getting excited.We're not going to ever recreate a whole human in these chips, but what our goal is is to be able to recreate sufficient functionality so that we can make better predictions of what's going to happen in humans. For example, now we can begin to explore what happens when we put a drug like an aerosol drug. Those of you like me who have asthma, when you take your inhaler, we can explore how that drug comes into your lungs, how it enters the body, how it might affect, say, your heart. Does it change the beating of your heart? Does it have a toxicity? Does it get cleared by the liver? Is it metabolized in the liver? Is it excreted in your kidneys? We can begin to study the dynamic response of the body to a drug. Organs on chips could also change the way we do clinical trials in the future. Right now, the average participant in a clinical trial is that: average. Tends to be middle aged, tends to be female. You won't find many clinical trials in which children are involved, yet every day, we give children medications, and the only safety data we have on that drug is one that we obtained from adults. Children are not adults. They may not respond in the same way adults do. There are other things like genetic differences in populations that may lead to at-risk populations that are at risk of having an adverse drug reaction. Now imagine if we could take cells from all those different populations, put them on chips, and create populations on a chip. This could really change the way we do clinical trials. And this is the team and the people that are doing this. We have engineers, we have cell biologists, we have clinicians, all working together. We're really seeing something quite incredible at the Wyss Institute. It's really a convergence of disciplines, where biology is influencing the way we design, the way we engineer, the way we build. It's pretty exciting.

Question: For years, technology and medicine have joined together to pave the way or even solve some of the worldâs greatest issues in healthcare. These issues include but are not limited to incurable diseases and disorders like AIDS and cancer. According to Geraldine Hamilton however, we as a population are spending too much money to develop drugs and solutions to these issues, only to be at a deficit with the drugs actually produced. She believes that one of the keys is how we test these drugs and finding more efficient ways to do so. As a result, she suggests the use of organs on chips, an innovation created and pioneered by her lab. The use of organs on chips could change the way new drugs are released and tested, thus possibly furthering the process of creating solutions to healthcareâs problems. Where is the fine line between technology and human innovation? Is human innovation gradually becoming depending on technology? (At least two paragraphs, a paragraph is at least 5 sentences long.)

Assignment Instructions: The founder of On-Time Technology Products is being pressured by their biggest investor to use cheaper parts that will not last more than one year. Based on your reading of ethics in this PowerPointÂ©presentation, apply ethical reasoning to respond to this big investor regarding your companyâs ethical position on using these cheaper parts.

Checklist:

â¢Review the PowerPoint presentation on consequential, non-consequential, and virtue ethics. below copied in word

â¢Then using an ethical perspective from the above presentation, and apply it to respond to the big investor.

â¢Discuss how your ethical response also complies with providing exceptional customer service. Scenario Background:

On-Time Technology Products (OTTP) sells products relating to time. Their product line consists of a huge assortment of clocks, watches, daytime planner books, and software. Many of their products are unique and innovative. They have been frequently compared to other high-end retailers.. Their products are sold in retail stores, via the Internet, and via catalogs. Their call center is presently in Dayton, Ohio. Mark MacGibson is the new President for On-Time Technology Products. Mr. MacGibson is a graduate from Kaplan Universityâs MBA program. Mary Graff has a Bachelorâs degree in Business from Kaplan University and is the supervisor for the Customer Service Representatives. Mr. MacGibson and Ms. Graffâs plans are to take On-Time Technology Products to a new level of exceptional customer service.

PowelPoint below in word..

An Overview of Consequential, Nonconsequential and Virtue Ethics Theories

What is Ethics?

Ethics is the study of those values that relate to our moral conduct, including questions of good and evil, right and wrong, and moral responsibility.

Consequentialist Theories:

Consequentialist theories claim that the morality of an action depends only on its consequences.

It only considers the result of actions and not principles or rules in determining morality.

Types of Consequentialist Theories:

Ethical Egoism argues that each person should act in their own self interests.

Act Utilitarianism argues that each person should act in a way that produces the greatest happiness for everyone.

Rule Utilitarianism argues that each person should follow rules that tend to produce the greatest happiness for everyone.

Weaknesses of Consequentialist Theories:

Requires person to predict the future and all possible outcomes.

Can easily be used to justify questionable actions (the end justifies the means).

Nonconsequentialist Theories:

Nonconsequentialist theories claim that the morality of an action depends on principles or other factors that are not related to consequences.

Types of Nonconsequentialist Theories:

Divine command theory argues that we should obey the laws of God.

Kantâs Categorical Imperative states that we should always act in a way that is based on reason, duty, and would be considered ethical if everyone acted in the exact same way. Also, people should be treated as an ends and not as a means.

Weaknesses of Nonconsequentialist Theories:

Divine Command requires a high degree of interpretation skills.

Variety of religions makes standards hard to develop for all.

Can be rigid and ignore outcomes

Virtue Ethics:

Virtue ethics seeks to identify character traits of a moral person and develop those with the idea that the virtuous person will act in a virtuous manner. It does not look to principles or consequences.

Virtue ethics was developed among the ancient Greek philosophers such as Aristotle and Confucius.

Virtue ethics enjoys modern support as an approach that avoids many of the problems with Consequential and Nonconsequential ethical theories.

Weaknesses of Virtue Theory:

Difficulty in determining just which characteristics are virtues

Justification for respecting a virtue usually brings one back to either consequences or principles.

Difficulty in applying to specific situations.

Conclusion:

One theory is not enough to cover all possible choices.

Theories can be synthesized to fit oneâs philosophy of life.

One theoryâs weakness is anotherâs strength.

ivorytermite127

GLOBALZN 1A03 Study Guide - Midterm Guide: Consumerism, World Social Forum, Indigenous Rights

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