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213.32 6 Winter 2013

EM. 213.32 6 Winter 2013. ch 5 text. your thoughts. The Corporation limited-liability moral agency corporate responsibility broadening responsibility institutionalizing ethics. Limited Liability. What is it? Why does this exist? What effect does it have?. enthusiasm. reluctance.

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213.32 6 Winter 2013

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  1. EM 213.32 6 Winter 2013

  2. ch 5 text your thoughts • The Corporation • limited-liability • moral agency • corporate responsibility • broadening responsibility • institutionalizing ethics

  3. Limited Liability • What is it? • Why does this exist? • What effect does it have? enthusiasm reluctance

  4. Moral Agency • What does this mean? • What is the problem?

  5. Moral Agency • What is “moral responsibility?” • being able to make moral decisions • being held accountable • for past actions • for care & treatment of others • the obligations of a role in a society

  6. Moral Agency • Can corporations make decisions? • Are moral decisions different than others?

  7. Moral Agency YOU. BOUGHT 228 MILLION POUNDS OF RESPONSIBLY GROWN, ETHICALLY TRADE COFFEE LAST YEAR Everything we do, you do. You stop by for a coffee. And just by doing that, you let Starbucks buy more coffee from farmers who are good to their workers community and planet. It’s using our size for good. And you make it all possible Well done, you.

  8. Moral Agency • vanishing individual responsibility • individuals • refuse • groups • diffuse • structure gives distance • investor board • manager staff

  9. Corporate Responsibility • arguments • utilitarian • rights

  10. Corporate Responsibility • only profit maximization • or • social responsibility “the social contract” “externalities”

  11. Corporate Responsibility • “the promissory relationship” • what does it • require • forbid • permit

  12. Broadening Responsibility • the arguments against • invisible-hand • role-of-government • inept-custodian • materialization-of-society

  13. Institutionalizing Ethics • Should they exist? • What should be in them? • How should they be developed? • How should they be enforced? “settled economic life”

  14. Capitalism • today’s challenges • productivity • short term focus • manufacturing decline • attitudes towards work • instability • unsustainability

  15. Capitalism • criticisms • persistence of • inequality • poverty • rise of oligopolies • implicit view of human nature • shortcomings of competition • employee’s • alienation • exploitation

  16. Capitalism • criticisms • persistence of • inequality • inequality of opportunity • poverty • responses • government causes poverty • capitalism can be softened • benefits outweigh harms • better than the alternatives Dickens

  17. GDP • source: World Bank

  18. inflation-adjusted per capita GDP $25,000 $20,000 $15,000 $10,000 $5,000 $0 0 500 AD 2000 AD 1000 AD 1500 AD Angus Madison, Historical Statistics of the World Economy: 1-2008 AD http://www.ggdc.net/maddison/Historical_Statistics/horizontal-file_02-2010.xls

  19. world Canada Japan inflation-adjusted per capita GDP $30,000 $20,000 $10,000 $0 1820 1840 1860 1880 1900 1920 1940 1960 1980 2000 Angus Madison, Historical Statistics of the World Economy: 1-2008 AD http://www.ggdc.net/maddison/Historical_Statistics/horizontal-file_02-2010.xls

  20. world Canada India China Japan Nigeria $8,000 $6,000 $4,000 $2,000 $0 1820 1840 1860 1880 1900 1920 1940 1960 1980 2000

  21. $20,000 $16,000 $12,000 South Korea $8,000 $4,000 North Korea $0 1950 1960 1970 1980 1990 2000

  22. $14,000 $12,000 $10,000 $8,000 $6,000 world $4,000 Hungary $2,000 Portugal 1900 1920 1940 1960 1980 2000

  23. Effects (?) of Globalization % of GDP derived from trade world trade in goods world per capita GDP 60% $8,000 $6,000 40% $4,000 20% $2,000 $0 1820 1840 1860 1880 1900 1920 1940 1960 1980 2000 The World Bank World Development Indicators & Global Development Finance http://data.worldbank.org/data-catalog/world-development-indicators

  24. % living on less than $2/day 100% Nigeria India 75% % living on less than $2/day 50% China 25% Brazil Mexico 0% 1980 1990 2000 World Bank World Development Indicatorshttp://data.worldbank.org/data-catalog/world-development-indicators

  25. Capitalism • criticisms • persistence of • inequality • poverty • rise of oligopolies • implicit view of human nature • shortcomings of competition • employee’s • alienation • exploitation natural direction corporate welfare modern economy multinationals

  26. Multinationals

  27. Multinationals

  28. Multinationals

  29. Multinationals

  30. Multinationals & Sweatshops

  31. Multinationals & Sweatshops

  32. Multinationals & Sweatshops

  33. Multinationals & Sweatshops The Economist Jul 29, 2010 “The Next China”

  34. Multinationals & Child Labour • International Labor Organization • International Programme on the Elimination of Child Labour • 2010 report: • “Accelerating action against Child Labour” http://www.ilo.org/ipec/lang--en/index.htm

  35. Multinationals & Child Labour 250m 200m 150m 100m 50m 0 2000 2004 2008 under 15 53m under 15 215m child labourers 1.6b children http://www.ilo.org/ipec/lang--en/index.htm

  36. Multinationals & Child Labour industry 15m not defined 16m services 55m agriculture 129m http://www.ilo.org/ipec/lang--en/index.htm

  37. Capitalism • criticisms • persistence of • inequality • poverty • rise of oligopolies • implicit view of human nature • shortcomings of competition • employee’s • alienation • exploitation natural direction corporate welfare modern economy multinationals

  38. Capitalism • criticisms • persistence of • inequality • poverty • rise of oligopolies • implicit view of human nature • no ideals to aspire to • reinforces “natural” tendencies • caricatures society

  39. Capitalism • criticisms • persistence of • inequality • poverty • rise of oligopolies • implicit view of human nature • shortcomings of competition • prevents cooperation

  40. Capitalism • criticisms • persistence of • inequality • poverty • rise of oligopolies • implicit view of human nature • shortcomings of competition • employee’s • alienation • exploitation

  41. Capitalism • criticisms • persistence of • inequality • poverty • rise of oligopolies • implicit view of human nature • shortcomings of competition • employee’s • alienation • exploitation

  42. “Wealth” and “Happiness”

  43. The Pew Global Attitudes Project good bad Canada very good somewhat good somewhat bad very bad Japan India China Nigeria Q.20 What do you think about the growing trade and business ties between [survey country] and other countries. Do you think it is a very good thing, somewhat good, somewhat bad or a very bad thing for our country? Pew Research Center 2007 World Publics Welcome Global Trade - But Not Immigration http://www.pewglobal.org/files/pdf/258.pdf/

  44. The Pew Global Attitudes Project agree disagree completely agree mostly agree mostly disagree completely disagree Canada Japan India China Nigeria Q.18a Please tell me whether you completely agree, mostly agree, mostly disagree or completely disagree with the following statements: a. Most people are better off in a free market economy, even though some people are rich and some are poor. Pew Research Center 2007 World Publics Welcome Global Trade - But Not Immigration http://www.pewglobal.org/files/pdf/258.pdf/

  45. my cricitisms utilitarian? really? instability disposability consumer-only debt all-encompassing works against work as sacred generosity Year of Jubilee my view Hindu gods Maddison constructed freedom and norms changeable responsible Capitalism

  46. All-Encompassing • Roman Empire • all of society • authority • relationships • work • commerce • belief understood within the idea of “the empire”

  47. All-Encompassing • Medieval Europe • all of society • authority • relationships • work • commerce • belief understood within the idea of “the church”

  48. All-Encompassing • Fascism • all of society • authority • relationships • work • commerce • belief understood within the idea of “the state” or “the nation”

  49. All-Encompassing • modern capitalism • all of society • authority • relationships • work • commerce • belief understood within the idea of “the market” the church as consumer item

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