This document discusses cronyism, including defining it, outlining its historical context, categorizing different types, and examining its costs. Cronyism refers to an unhealthy closeness between government and special interests where some receive special treatment through political connections at others' expense. Historically it has been critiqued under terms like "interest group politics" and "rent seeking." There are many costs, such as monopoly costs that reduce competition, productive inefficiencies when firms are not competitive, and a misallocation of entrepreneurial talent toward political rather than market activities. Overall, cronyism reduces economic efficiency and long-term growth.
The document discusses different theories and models of the state, including pluralist, capitalist, leviathan, and patriarchal theories. It also examines the roles of minimal, developmental, social democratic, collectivized, and totalitarian states. Finally, it addresses how globalization has impacted state power and sovereignty, with some arguing states have declined as international actors due to increased economic globalization and the rise of transnational companies.
Capitalism is an economic system where private individuals and businesses, rather than the state, have control over trade, industry, and profits. It is based on the philosophy of laissez-faire, where the government does not intervene in private business as long as equal rights are respected. Adam Smith was a key advocate for capitalism and argued in his book The Wealth of Nations that self-interest and competition can lead to economic prosperity. While capitalism can be successful if citizens make good choices, it also has disadvantages like economic inequality, greed, unfair advantages, exploitation of labor, and monopoly behavior.
Max Weber analyzed the origins and evolution of Western capitalism. He identified the "spirit of capitalism" as a set of Protestant values like hard work, progress, and the moral sanctioning of wealth accumulation. According to Weber, capitalism emerged from a combination of historical factors in Europe, especially the spread of Calvinism in the 15th-16th centuries. Calvinism's emphasis on worldly "callings" and the sign of salvation through success encouraged the moral energy and drive of capitalist entrepreneurs. Rationalism also contributed to capitalism through the application of science and techniques to production. However, Weber warned that capitalism could become dominated by materialism and dehumanize living conditions.
This document defines and describes various aspects of capitalism. Capitalism is an economic system defined by private ownership of trade, industries and means of production that are operated for profit. It is based on wage labor, private ownership and production for exchange and profit. Under capitalism, money is invested to generate more money through the process of capital accumulating more capital. Key features include private property, large-scale production, profit as the main motive, competition, and the price mechanism being determined by supply and demand rather than production costs. The document also discusses various forms of capitalism and both pros and cons.
Corruption involves wrongdoing by those in positions of power through illegitimate or unethical means and is often associated with bribery. Corruption exists among both the rich and poor. Common forms include bribery, embezzlement, extortion, abuse of discretion, favoritism, and improper political contributions. Transparency International publishes the annual Corruption Perceptions Index, which ranks countries based on perceived corruption levels as determined by experts and surveys. The index defines corruption as the misuse of public power for private gain. Countries are ranked on a scale from 0 (highly corrupt) to 100 (very clean). The document recommends forming an independent anti-corruption agency to investigate and reduce corruption, and suggests
This document discusses corruption in India. It defines corruption as wrongdoing by those in power through illegitimate or unethical means, often involving bribery. The document outlines several Indian laws related to corruption and describes the types of corruption as political, administrative, and professional. Political corruption involves using money and favors to win elections. Administrative corruption occurs in government offices through bribery of officials. Professional corruption involves fraudulent business practices. The document suggests ways to reduce corruption through education, accountability, computerization, and religious support of anti-corruption efforts.
Capitalism generates significant inequalities in income and wealth which reduce overall social welfare. While private ownership and market forces lead to economic growth, capitalism also produces goods and services that are harmful or do not meet real social needs. The system is also unstable and prone to economic crises. Some failed capitalist states have extreme poverty, while others require costly bailouts. Islam prohibits practices like usury and monopoly that are necessary for capitalism to grow. In conclusion, capitalism has become a curse by prioritizing profits over people through exploitation, unsafe products, pollution, and corruption.
The document discusses different theories and models of the state, including pluralist, capitalist, leviathan, and patriarchal theories. It also examines the roles of minimal, developmental, social democratic, collectivized, and totalitarian states. Finally, it addresses how globalization has impacted state power and sovereignty, with some arguing states have declined as international actors due to increased economic globalization and the rise of transnational companies.
Capitalism is an economic system where private individuals and businesses, rather than the state, have control over trade, industry, and profits. It is based on the philosophy of laissez-faire, where the government does not intervene in private business as long as equal rights are respected. Adam Smith was a key advocate for capitalism and argued in his book The Wealth of Nations that self-interest and competition can lead to economic prosperity. While capitalism can be successful if citizens make good choices, it also has disadvantages like economic inequality, greed, unfair advantages, exploitation of labor, and monopoly behavior.
Max Weber analyzed the origins and evolution of Western capitalism. He identified the "spirit of capitalism" as a set of Protestant values like hard work, progress, and the moral sanctioning of wealth accumulation. According to Weber, capitalism emerged from a combination of historical factors in Europe, especially the spread of Calvinism in the 15th-16th centuries. Calvinism's emphasis on worldly "callings" and the sign of salvation through success encouraged the moral energy and drive of capitalist entrepreneurs. Rationalism also contributed to capitalism through the application of science and techniques to production. However, Weber warned that capitalism could become dominated by materialism and dehumanize living conditions.
This document defines and describes various aspects of capitalism. Capitalism is an economic system defined by private ownership of trade, industries and means of production that are operated for profit. It is based on wage labor, private ownership and production for exchange and profit. Under capitalism, money is invested to generate more money through the process of capital accumulating more capital. Key features include private property, large-scale production, profit as the main motive, competition, and the price mechanism being determined by supply and demand rather than production costs. The document also discusses various forms of capitalism and both pros and cons.
Corruption involves wrongdoing by those in positions of power through illegitimate or unethical means and is often associated with bribery. Corruption exists among both the rich and poor. Common forms include bribery, embezzlement, extortion, abuse of discretion, favoritism, and improper political contributions. Transparency International publishes the annual Corruption Perceptions Index, which ranks countries based on perceived corruption levels as determined by experts and surveys. The index defines corruption as the misuse of public power for private gain. Countries are ranked on a scale from 0 (highly corrupt) to 100 (very clean). The document recommends forming an independent anti-corruption agency to investigate and reduce corruption, and suggests
This document discusses corruption in India. It defines corruption as wrongdoing by those in power through illegitimate or unethical means, often involving bribery. The document outlines several Indian laws related to corruption and describes the types of corruption as political, administrative, and professional. Political corruption involves using money and favors to win elections. Administrative corruption occurs in government offices through bribery of officials. Professional corruption involves fraudulent business practices. The document suggests ways to reduce corruption through education, accountability, computerization, and religious support of anti-corruption efforts.
Capitalism generates significant inequalities in income and wealth which reduce overall social welfare. While private ownership and market forces lead to economic growth, capitalism also produces goods and services that are harmful or do not meet real social needs. The system is also unstable and prone to economic crises. Some failed capitalist states have extreme poverty, while others require costly bailouts. Islam prohibits practices like usury and monopoly that are necessary for capitalism to grow. In conclusion, capitalism has become a curse by prioritizing profits over people through exploitation, unsafe products, pollution, and corruption.
Political socialization is the process by which people acquire political attitudes and behaviors through agents like family, school, media, religion, and political parties. It shapes political stances and impacts political culture and participation. Political culture refers to the attitudes and values that characterize a political system, while political socialization deals with individuals. Factors like social status, demographics, and family relationships influence political socialization and how people engage with politics. The political socialization process in Bangladesh has been impacted by its history of autocracy, centralized wealth, and double-faced political parties.
Niccolo Machiavelli was an Italian diplomat, politician, and political philosopher during the Renaissance. In his famous work The Prince, he argued that politics and ethics are separate realms, and that a ruler may need to act unethically, through means like deceit, terrorism, and force, in order to achieve and maintain political power. He believed leaders should appear religious to their people but did not need to be truly religious themselves. Machiavelli also emphasized the importance of a strong military and ending the use of mercenaries. The Prince broke from traditional political thought by arguing that effective politics requires understanding human nature and being prepared to act against ethical norms when necessary for state interests.
This document provides an overview and critique of realism and liberalism as international relations theories. It notes that realism views states as rational actors seeking power and security, with a competitive human nature. Realism is criticized for ignoring non-state actors and non-military forces. Liberalism emphasizes interaction between states and other actors as leading to a more cooperative world, but is critiqued for downplaying the importance of wars and reducing predictability. The document concludes by framing an evaluation of structural realism and liberalism, suggesting strengths and weaknesses be weighed with supporting evidence.
Karl Marx was a hugely influential 19th century philosopher and economist whose ideas centered around social and economic inequality under capitalism. He argued that industrialization led to a split society with the wealthy bourgeoisie owning the means of production and the working proletariat forced to sell their labor for wages. This dynamic exploited workers and enriched capitalists, leading Marx to conclude that capitalism would inevitably give way to socialism through revolution as workers became increasingly alienated.
The document outlines the author's vision for an ideal state. It describes establishing a presidential republic with power shared between the president and parliament. The president would be democratically elected and head of state. Successful politicians are described as risky, tolerant, popular, hardworking, and pliable. The branches of government would be executive, legislative, and judicial. The legislative branch is bicameral with a senate and council. The executive branch is headed by a democratically elected government. The bill of rights protects social programs, equality, freedom of speech, press, and right to petition the government. The state does not allow private property and families are an important social unit.
World systems theory argues that underdeveloped countries are poor not due to their own histories or characteristics, but because of their position in the global capitalist system. Core developed countries exploit peripheral poorer nations by maintaining economic and military dominance over them. This allows core nations to extract resources and profits from peripheries while preventing their industrial development. World systems theorists claim international organizations do not challenge this global power structure and peripheries should pursue policies like import substitution and cooperation to resist exploitation by the core. However, critics argue world systems theory's claims are not always supported by evidence and the causes of global inequality may be more complex.
Gramsci's theory of cultural hegemony posits that the ruling class maintains power through both coercion and consent. The ruling class promotes the values and norms of its ideology through cultural institutions like media and education, so that its worldview becomes the "common sense" perspective accepted by all classes. However, consent must be continuously earned, as the subordinate classes' lived experiences may cause them to reject the dominant ideology. The mass media plays a key role in this ideological struggle.
The document discusses the evolution of the concept of political economy. It notes that early theorists like Adam Smith saw political economy as both positive (describing how the economy works) and normative (how it should work). Later theorists like Lionel Robbins and Joseph Schumpeter emphasized the interaction between economic and political systems and the use of normative principles to develop policy prescriptions. Karl Marx analyzed political economy in terms of historical changes to production relations and social power structures. The document contrasts this with Alfred Marshall's definition of economics as a positive science, separate from political and social contexts.
Corruption in develeoping countries challenges & responseShahid Hussain Raja
Although corruption is not an exclusively Third World phenomena as corruption exists both in developed and developing countries in different forms and degrees yet its pervasiveness in the developing countries cannot be denied.
This presentation is an attempt to gauge this pervasiveness in the developing countries, find out its causes and lay down a framework for its minimization, if not total eradication
This document presents a summary of capitalism that was presented to Sir Rao Naeem Ullah. It begins by listing the 12 presenters and their student IDs and programs of study. It then provides definitions of capitalism, discusses the history and origins of capitalism. It outlines key features of capitalism including private property, profit motive, and perfect competition. It also discusses types of capitalism, impacts on market economy, laws of supply and demand, criticisms of capitalism, advantages and disadvantages, examples of capitalist countries, and argues that capitalism can be realistic if citizens make right choices.
This document discusses street crimes in Pakistan. It notes that common street crimes include snatching, robbery, kidnapping, and harassment. Mobile snatching has become one of the most common street crimes, putting people in fear of carrying phones or cash in public. Studies have found crime rates are higher in big cities due to greater access to means of committing crimes. Surveys found most people agree unemployment and political parties contribute to crime, and that expensive phones attract street crime. Poverty is also seen as a leading cause of crime. However, no single factor can be identified as the main cause as reasons differ between countries.
The document defines and categorizes different types of economic crimes. It discusses crimes against property including theft, swindling, misappropriation, robbery, extortion, and destruction of property. It also outlines crimes in the economic sphere such as obstruction of business, illegal land deals, money laundering, and tax evasion. Finally, it mentions crimes against the interests of service in organizations like bribery in profit-making companies. The document provides an overview of common economic offenses with the goal of harming financial interests through illegal means.
The document discusses capitalism from several perspectives. It begins with an introduction to capitalism and its key principles of private ownership, profit, and voluntary exchange. It then provides a historical overview of capitalism from its pre-history through modern eras like mercantilism, industrialization, and globalization. The document also examines different types of capitalism like free market capitalism and state capitalism. It outlines both advocacy for capitalism's ability to drive economic growth and self-organization, as well as criticisms around inequality and unfair distribution of wealth and power.
Jeremy Bentham was an English philosopher born in 1748 who studied at Queen's College, Oxford and Lincoln's Inn. He is known for developing the theory of utilitarianism, which holds that actions are right if they promote happiness and wrong if they cause unhappiness. Bentham published works on utilitarianism and its applications to law and government from 1776 until his death in 1832.
This document discusses the definition and types of corruption. It defines corruption as obtaining an advantage through illegitimate or immoral means that are inconsistent with one's duties. There are two main types of corruption discussed: petty corruption involving small acts by individuals, and state corruption where private interests effectively control certain government functions. Common forms of corruption include bribery, embezzlement, fraud, extortion, abuse of discretion, nepotism, and improper political contributions. The document also outlines characteristics that enable corruption and discusses how globalization, media, and laws/accountability frameworks can help address the problem.
Immanuel Wallerstein was born in 1930 in New York where he grew up and obtained his BS, MA, and PhD degrees from Columbia University where he remained a faculty member from 1958 to 1971. He aimed to provide a new theoretical paradigm to guide investigations into the emergence of capitalism, industrialization, and national states by achieving a conceptual break from modernization theories.
This document defines and discusses economic corruption. It begins by defining economic corruption as the misuse of public office or resources for private gain. It then discusses different types of corruption, reasons corruption occurs like low economic growth and unclear laws, and how corruption works through bribes that influence contracts and taxes. The document also outlines ways to treat economic corruption such as activating anti-corruption roles, audits, penalties, and media pressure. It concludes by noting some facts about the scale of corruption globally and references for further information.
- Bosnia declared independence from Yugoslavia in 1992 following a referendum, but this led to war as Bosnian Serbs boycotted the vote and tensions rose between ethnic groups.
- The war involved a siege of Sarajevo by Bosnian Serb forces lasting nearly 4 years, as well as the Srebrenica genocide where over 8,000 Bosnian Muslim men and boys were killed by Serb forces.
- The war ended in 1995 with the Dayton Peace Agreement following international pressure and NATO airstrikes against the Bosnian Serb army. However, ethnic tensions and divisions remain in parts of Bosnia to this day.
The summary provides the key details of the short story "The Sniper" by Liam O'Flaherty in 3 sentences:
An IRA sniper posts himself on a rooftop in Dublin during the Irish Civil War and kills an enemy turret gunner and an old woman, but is then shot in the arm by an opposing sniper across the way. Using a plan to trick the other sniper, he fakes his death and shoots his enemy when he lets his guard down, only to discover that the other sniper was actually his brother.
Political socialization is the process by which people acquire political attitudes and behaviors through agents like family, school, media, religion, and political parties. It shapes political stances and impacts political culture and participation. Political culture refers to the attitudes and values that characterize a political system, while political socialization deals with individuals. Factors like social status, demographics, and family relationships influence political socialization and how people engage with politics. The political socialization process in Bangladesh has been impacted by its history of autocracy, centralized wealth, and double-faced political parties.
Niccolo Machiavelli was an Italian diplomat, politician, and political philosopher during the Renaissance. In his famous work The Prince, he argued that politics and ethics are separate realms, and that a ruler may need to act unethically, through means like deceit, terrorism, and force, in order to achieve and maintain political power. He believed leaders should appear religious to their people but did not need to be truly religious themselves. Machiavelli also emphasized the importance of a strong military and ending the use of mercenaries. The Prince broke from traditional political thought by arguing that effective politics requires understanding human nature and being prepared to act against ethical norms when necessary for state interests.
This document provides an overview and critique of realism and liberalism as international relations theories. It notes that realism views states as rational actors seeking power and security, with a competitive human nature. Realism is criticized for ignoring non-state actors and non-military forces. Liberalism emphasizes interaction between states and other actors as leading to a more cooperative world, but is critiqued for downplaying the importance of wars and reducing predictability. The document concludes by framing an evaluation of structural realism and liberalism, suggesting strengths and weaknesses be weighed with supporting evidence.
Karl Marx was a hugely influential 19th century philosopher and economist whose ideas centered around social and economic inequality under capitalism. He argued that industrialization led to a split society with the wealthy bourgeoisie owning the means of production and the working proletariat forced to sell their labor for wages. This dynamic exploited workers and enriched capitalists, leading Marx to conclude that capitalism would inevitably give way to socialism through revolution as workers became increasingly alienated.
The document outlines the author's vision for an ideal state. It describes establishing a presidential republic with power shared between the president and parliament. The president would be democratically elected and head of state. Successful politicians are described as risky, tolerant, popular, hardworking, and pliable. The branches of government would be executive, legislative, and judicial. The legislative branch is bicameral with a senate and council. The executive branch is headed by a democratically elected government. The bill of rights protects social programs, equality, freedom of speech, press, and right to petition the government. The state does not allow private property and families are an important social unit.
World systems theory argues that underdeveloped countries are poor not due to their own histories or characteristics, but because of their position in the global capitalist system. Core developed countries exploit peripheral poorer nations by maintaining economic and military dominance over them. This allows core nations to extract resources and profits from peripheries while preventing their industrial development. World systems theorists claim international organizations do not challenge this global power structure and peripheries should pursue policies like import substitution and cooperation to resist exploitation by the core. However, critics argue world systems theory's claims are not always supported by evidence and the causes of global inequality may be more complex.
Gramsci's theory of cultural hegemony posits that the ruling class maintains power through both coercion and consent. The ruling class promotes the values and norms of its ideology through cultural institutions like media and education, so that its worldview becomes the "common sense" perspective accepted by all classes. However, consent must be continuously earned, as the subordinate classes' lived experiences may cause them to reject the dominant ideology. The mass media plays a key role in this ideological struggle.
The document discusses the evolution of the concept of political economy. It notes that early theorists like Adam Smith saw political economy as both positive (describing how the economy works) and normative (how it should work). Later theorists like Lionel Robbins and Joseph Schumpeter emphasized the interaction between economic and political systems and the use of normative principles to develop policy prescriptions. Karl Marx analyzed political economy in terms of historical changes to production relations and social power structures. The document contrasts this with Alfred Marshall's definition of economics as a positive science, separate from political and social contexts.
Corruption in develeoping countries challenges & responseShahid Hussain Raja
Although corruption is not an exclusively Third World phenomena as corruption exists both in developed and developing countries in different forms and degrees yet its pervasiveness in the developing countries cannot be denied.
This presentation is an attempt to gauge this pervasiveness in the developing countries, find out its causes and lay down a framework for its minimization, if not total eradication
This document presents a summary of capitalism that was presented to Sir Rao Naeem Ullah. It begins by listing the 12 presenters and their student IDs and programs of study. It then provides definitions of capitalism, discusses the history and origins of capitalism. It outlines key features of capitalism including private property, profit motive, and perfect competition. It also discusses types of capitalism, impacts on market economy, laws of supply and demand, criticisms of capitalism, advantages and disadvantages, examples of capitalist countries, and argues that capitalism can be realistic if citizens make right choices.
This document discusses street crimes in Pakistan. It notes that common street crimes include snatching, robbery, kidnapping, and harassment. Mobile snatching has become one of the most common street crimes, putting people in fear of carrying phones or cash in public. Studies have found crime rates are higher in big cities due to greater access to means of committing crimes. Surveys found most people agree unemployment and political parties contribute to crime, and that expensive phones attract street crime. Poverty is also seen as a leading cause of crime. However, no single factor can be identified as the main cause as reasons differ between countries.
The document defines and categorizes different types of economic crimes. It discusses crimes against property including theft, swindling, misappropriation, robbery, extortion, and destruction of property. It also outlines crimes in the economic sphere such as obstruction of business, illegal land deals, money laundering, and tax evasion. Finally, it mentions crimes against the interests of service in organizations like bribery in profit-making companies. The document provides an overview of common economic offenses with the goal of harming financial interests through illegal means.
The document discusses capitalism from several perspectives. It begins with an introduction to capitalism and its key principles of private ownership, profit, and voluntary exchange. It then provides a historical overview of capitalism from its pre-history through modern eras like mercantilism, industrialization, and globalization. The document also examines different types of capitalism like free market capitalism and state capitalism. It outlines both advocacy for capitalism's ability to drive economic growth and self-organization, as well as criticisms around inequality and unfair distribution of wealth and power.
Jeremy Bentham was an English philosopher born in 1748 who studied at Queen's College, Oxford and Lincoln's Inn. He is known for developing the theory of utilitarianism, which holds that actions are right if they promote happiness and wrong if they cause unhappiness. Bentham published works on utilitarianism and its applications to law and government from 1776 until his death in 1832.
This document discusses the definition and types of corruption. It defines corruption as obtaining an advantage through illegitimate or immoral means that are inconsistent with one's duties. There are two main types of corruption discussed: petty corruption involving small acts by individuals, and state corruption where private interests effectively control certain government functions. Common forms of corruption include bribery, embezzlement, fraud, extortion, abuse of discretion, nepotism, and improper political contributions. The document also outlines characteristics that enable corruption and discusses how globalization, media, and laws/accountability frameworks can help address the problem.
Immanuel Wallerstein was born in 1930 in New York where he grew up and obtained his BS, MA, and PhD degrees from Columbia University where he remained a faculty member from 1958 to 1971. He aimed to provide a new theoretical paradigm to guide investigations into the emergence of capitalism, industrialization, and national states by achieving a conceptual break from modernization theories.
This document defines and discusses economic corruption. It begins by defining economic corruption as the misuse of public office or resources for private gain. It then discusses different types of corruption, reasons corruption occurs like low economic growth and unclear laws, and how corruption works through bribes that influence contracts and taxes. The document also outlines ways to treat economic corruption such as activating anti-corruption roles, audits, penalties, and media pressure. It concludes by noting some facts about the scale of corruption globally and references for further information.
- Bosnia declared independence from Yugoslavia in 1992 following a referendum, but this led to war as Bosnian Serbs boycotted the vote and tensions rose between ethnic groups.
- The war involved a siege of Sarajevo by Bosnian Serb forces lasting nearly 4 years, as well as the Srebrenica genocide where over 8,000 Bosnian Muslim men and boys were killed by Serb forces.
- The war ended in 1995 with the Dayton Peace Agreement following international pressure and NATO airstrikes against the Bosnian Serb army. However, ethnic tensions and divisions remain in parts of Bosnia to this day.
The summary provides the key details of the short story "The Sniper" by Liam O'Flaherty in 3 sentences:
An IRA sniper posts himself on a rooftop in Dublin during the Irish Civil War and kills an enemy turret gunner and an old woman, but is then shot in the arm by an opposing sniper across the way. Using a plan to trick the other sniper, he fakes his death and shoots his enemy when he lets his guard down, only to discover that the other sniper was actually his brother.
Ocado recognizes that attracting and retaining top talent is essential to its success as an online retailer. To support its growing workforce, Ocado introduced a car-sharing scheme called Liftshare to provide a more sustainable transportation option for employees commuting to its Customer Fulfillment Center. Over 36% of Ocado's 2000 employees have registered for the program. By encouraging employees to share rides, Liftshare is expected to reduce carbon emissions and save nearly 100 tons of CO2 annually while also helping Ocado recruit from a wider area and offer cost savings to employees.
Ocado is an online grocery retailer based in the UK that has recently started turning profits. A financial analysis of Ocado from 2012-2014 showed improving returns on equity due to increased sales and profits. However, Ocado's profitability ratios are still lower than competitors like Sainsbury due to high spending on research and development. Ocado has improved working capital efficiency but still has room to better control selling, general and administrative expenses to maximize its strategy of keeping costs low. While showing signs of progress, Ocado will need continued growth and experience to reach the scale and profitability of larger peer companies.
The document discusses customer decision journeys and digital marketing initiatives for Sheraton Hotels and W Hotels. Sheraton utilizes social media, their website, and mobile advertising to raise awareness. Customers then provide opinions on social media that can encourage or discourage bookings. Once a customer decides to book, it is easy to do so online. Sheraton can improve by posting more frequently on social media and addressing customer complaints. Competing with OTAs requires direct contact on sites like TripAdvisor, matching rates, and adding value on their own website.
This document provides an overview of a presentation on branding given by Dr. Marius Luedicke. It introduces Dr. Luedicke and his background and qualifications. It then outlines the four goals of the presentation as understanding what brands are, learning a new method for analyzing brands, applying the method to a brand, and playing with the method using own or colleagues' brands. The document proceeds to discuss why branding matters for startups and companies through building customer relationships and preference, extending products to new markets, and increasing prices and valuation. It also introduces Luedicke's Brand Rotor model for analyzing the core, thoughts, cultures, and touchpoints that define a brand.
The document discusses maximizing customer experience and revenues through mobile shopping. It provides examples of how mobile shopping is growing rapidly, with many retailers releasing shopping apps. It then discusses how retailers can develop successful mobile strategies by creating intuitive mobile apps or websites that allow quick and easy shopping experiences for customers on their phones. It also provides a case study of how a grocery retailer significantly increased its mobile sales and customers through a well-designed mobile app.
Cronyism History, Costs, Case Studies & SolutionsMercatus Center
This document discusses cronyism, including defining it, providing its historical context and academic underpinnings, categorizing different types of cronyism, and outlining the dangers and costs of cronyism. Specifically, it defines cronyism as an unhealthy closeness between government and special interests that results in some receiving special treatment at the expense of others due to political connections. It then discusses how political scientists and economists have critiqued cronyism under different names and provides examples of how their analyses influenced the study of cronyism. The document also categorizes 10 common types of cronyism and details some specific and long-term costs of cronyism, such as reduced innovation and economic growth.
Cronyism: History, Costs, Case Studies and SolutionsAdam Thierer
In this presentation, I offer a definition of cronyism, explain its origins, discuss how various academics have traditionally thought about it, outline a variety of case studies, and then propose a range of solutions.
CHAPTER 4The Nature of CapitalismLearning ObjectivesTaunyaCoffman887
CHAPTER 4
The Nature of Capitalism
Learning Objectives
After completing this chapter students should be able to:
Think critically about the ethical underpinnings of capitalism, its history and evolution, positive and
negative aspects, and alternative economic systems.
Understand the mechanics and morality of each of the four features of capitalism—the existence of
companies, profit, competition, and private property.
Review the political, economic, and philosophical challenges to the capitalist economic model
especially with regard to the role of government.
Articulate and contrast the economic philosophies of Adam Smith and Karl Marx.
Apply moral philosophies prescriptively to some of the theoretical and operational challenges facing
capitalism and capitalist economies today.
Glossary
1. alienation: Becoming a stranger to humanity—one's own humanity and the humanity of others.
Dehumanization and demonization can be considered to be forms of alienation when we no longer
appreciate the reality of others being “humans” or “people.” Karl Marx argues that capitalism
causes people to lose an understanding of what it means to be human and they no longer see
themselves or others as being fully human. For example, exploitation is when a capitalist sees her
workers as being a “means to her ends.” They are to be “used” by her to make a profit and their
needs are not important to her.
2. capitalism: An economic system where people complete to make a profit and the ownership of the
means of production (resources and machines) are mainly owned by “the private sector” rather than
the government.
3. corporate welfare: Subsidies (money and resources) given to corporations from the government.
4. economic system: The way a society organizes business and money, such as capitalism,
communism, socialism, and feudalism. Economic systems should be distinguished from systems of
government.
5. free market: An economy without government interference (other than to protect people's property,
contracts, and right to noninjury).
6. invisible hand: The force that moves a free market in mutually beneficial ways. Adam smith's
invisible hand argument states that a free market among well-informed, profit-seeking individuals
can lead to mutually-beneficial behavior—low prices for quality products. (The assumption is that
the people involved are rational and informed.) People will be productive and enrich society as a
result.
7. natural rights: Rights are moral entitlements that obligate others. If I have a right to life, then
others are obligated not to kill me. Natural rights are rights we have regardless of our contracts or
agreements. Some philosophers have argued that capitalism is justified because of our natural right
to property—it's our right to own the world's resources and machines required for an industry.
8. socialism: An economic system where the means of production are primarily owned and controlled
by the go ...
CHAPTER 4The Nature of CapitalismLearning ObjectivesWilheminaRossi174
CHAPTER 4
The Nature of Capitalism
Learning Objectives
After completing this chapter students should be able to:
Think critically about the ethical underpinnings of capitalism, its history and evolution, positive and
negative aspects, and alternative economic systems.
Understand the mechanics and morality of each of the four features of capitalism—the existence of
companies, profit, competition, and private property.
Review the political, economic, and philosophical challenges to the capitalist economic model
especially with regard to the role of government.
Articulate and contrast the economic philosophies of Adam Smith and Karl Marx.
Apply moral philosophies prescriptively to some of the theoretical and operational challenges facing
capitalism and capitalist economies today.
Glossary
1. alienation: Becoming a stranger to humanity—one's own humanity and the humanity of others.
Dehumanization and demonization can be considered to be forms of alienation when we no longer
appreciate the reality of others being “humans” or “people.” Karl Marx argues that capitalism
causes people to lose an understanding of what it means to be human and they no longer see
themselves or others as being fully human. For example, exploitation is when a capitalist sees her
workers as being a “means to her ends.” They are to be “used” by her to make a profit and their
needs are not important to her.
2. capitalism: An economic system where people complete to make a profit and the ownership of the
means of production (resources and machines) are mainly owned by “the private sector” rather than
the government.
3. corporate welfare: Subsidies (money and resources) given to corporations from the government.
4. economic system: The way a society organizes business and money, such as capitalism,
communism, socialism, and feudalism. Economic systems should be distinguished from systems of
government.
5. free market: An economy without government interference (other than to protect people's property,
contracts, and right to noninjury).
6. invisible hand: The force that moves a free market in mutually beneficial ways. Adam smith's
invisible hand argument states that a free market among well-informed, profit-seeking individuals
can lead to mutually-beneficial behavior—low prices for quality products. (The assumption is that
the people involved are rational and informed.) People will be productive and enrich society as a
result.
7. natural rights: Rights are moral entitlements that obligate others. If I have a right to life, then
others are obligated not to kill me. Natural rights are rights we have regardless of our contracts or
agreements. Some philosophers have argued that capitalism is justified because of our natural right
to property—it's our right to own the world's resources and machines required for an industry.
8. socialism: An economic system where the means of production are primarily owned and controlled
by the go ...
Chapter Four:
The Nature of Capitalism
1
1
Wells Fargo fined $185M for fake accounts; 5,300 were fired
An analysis by the San Francisco-headquartered bank found that its employees opened more than two million deposit and credit card accounts that may not have been authorized by consumers, the officials said.
Many of the transfers ran up fees or other charges for the customers, even as they helped employees make incentive goals.
2
2
Capitalism
Capitalism: An economic system in which the major portion of production and distribution is in private hands, operating under what is termed a “profit” or “market” system
Socialism: The polar opposite of capitalism, an economic system characterized by public ownership of property and a planned economy
Worker control socialism: A hybrid market-oriented socialism
5
Introduction to Capitalism
Capitalism
Capitalism has historically evolved from the Renaissance through several stages – mercantile, industrial, financial, and state welfare.
Many believe we are now at a new stage, globalized capitalism, involving reliance upon foreign labor and services, joint ventures in overseas companies, outsourcing, etc.
Capitalism is constantly changing as new socio-economic and political conditions arise.
7
Key Features of Capitalism
Companies: Capitalism permits the creation of companies or business organizations that exist separately from the people associated with them.
Profit motive: The profit motive implies a critical assumption about human nature – that human beings are economic creatures who recognize and are motivated by their own monetary interests.
8
Capitalist Model - (Free-Market System)
A free market is one that is not controlled either by government or by any small group of individuals.
In a free market, government does not:
set the price of goods
set wages or
control production.
Competition is also vital to a free-market system.
To try to achieve greater returns on investment, perhaps by taking more risk, resources must be free to move within the system to whichever portion of it someone believes will bring the greatest return.
Key Features of Capitalism
Competition: In his famous treatise on political economy, An Inquiry into the Nature and Causes of the Wealth of Nations (1776), Adam Smith explained how free competition makes individual pursuit of self-interest socially beneficial.
Private property: Capitalism requires private ownership of the major means of production (factories, warehouses, offices, machines, trucking fleets, land, etc.)
10
Moral Justifications of Capitalism
The natural right to property: One basic defense of capitalism rests on a supposed natural moral right to property.
Utilitarians deny the existence of such rights.
Other critics doubt that this right entitles one to have a system of property rules and regulations identical to the one we now have in ...
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Rana Hendy - Doha Institute
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Cronyism: History, Costs, Case Studies & Solutions
1. Cronyism:
History, Costs, Case Studies & Solutions
Adam Thierer
Senior Research Fellow
Mercatus Center at George Mason University
November 2012
2. Purpose
of
This
Presenta0on
1. Clearly
define
cronyism
2. Discuss
its
historical
/
academic
underpinnings
3. Develop
a
taxonomy
of
types
of
cronyism
4. Explain
the
dangers
/
costs
of
cronyism
5. Iden0fy
notable
case
studies
6. Consider
possible
solu3ons
7. Offer
addi3onal
resources
2
3. What
is
Cronyism?
• Cronyism
generally
refers
to
an
unnatural
and
unhealthy
closeness
between
government
and
special
interests
– “Cronyism
is
the
subs0tu0on
of
poli0cal
influence
for
free
markets”
-‐
David
R.
Henderson
• cronyism
is
a
by-‐product,
or
subset
of,
a
much
bigger
problem:
government-‐granted
privileges
or
government
favori3sm
– Simply
stated,
someone
is
ge)ng
special
treatment
at
the
expense
of
others
thanks
to
poli4cal
connec4ons
3
4. Historical
/
Academic
Underpinnings
Cronyism
is
a
rela0vely
new
term
• Tradi0onally,
corrup4on
was
the
primary
form
of
cronyism
that
concerned
poli0cal
scien0sts,
economists,
and
journalists
• But
corrup0on
is
merely
one
extreme
variant
(or
by-‐product)
of
cronyism
• We
tried
to
address
on
type
of
cronyism
in
the
19th
century
where
government
jobs
were
given
to
family
members
and
friends
through
the
Pendleton
Act.
• Poli0cal
scien0sts
and
economists
have
a
long
history
of
cri0quing
cronyism
by
other
names…
4
5. Poly
Sci
&
Econ
Influences
• Poli3cal
science
cri0ques
– “interest
group
poli0cs”
– “client
poli0cs”
(James
Q.
Wilson)
– “iron
triangles”
(Theodore
Lowi)
– “revolving
doors”
• Economic
cri0ques
=
“Economic
theory
of
regula0on”
(which
countered
the
“public
interest
theory”
of
regula0on)
– Chicago
school:
“capture
theory”
(S0gler)
&
corpora3sm
(Friedman)
– Public
choice
school:
“Rent
seeking”
(seeking
of
favors)
&
“rent
extrac3on”
(gran0ng
of
favors)
5
6. Common
Themes
from
Cri0ques
• First,
when
benefits
are
concentrated
and
costs
are
dispersed
(across
all
taxpayers,
for
example),
we
can
expect
groups
to
form
to
take
advantage
of
those
benefits.
• Those
bearing
the
dispersed
costs
will
have
less
of
an
incen0ve
to
form
groups
to
counter
those
receiving
the
benefits.
• This
explains
why
some
government
programs
and
regula0ons
become
so
entrenched
and
why
rent-‐seeking
self-‐
perpetuates.
• (These
insights
flow
from
Mancur
Olson’s
1965
book,
The
Logic
of
Collec4ve
Ac4on)
6
7. Common
Themes
(cont.)
• Second,
the
“public
interest
theory”
of
policymaking
and
regula3on
is
highly
flawed.
• The
no0on
that
lawmakers
and
regulators
are
always
enlightened
and
benevolent
actors
who
would
intervene
to
correct
supposed
market
failures
and
“serve
the
broad
social
goal
of
maximizing
social
welfare”
or
other
“public
interest”
objec0ves,
is
at
odds
with
empirical
reality.
• Quite
oien,
the
opposite
is
true:
They
oien
act
to
sa0sfy
the
private
interest
of
poli0cally
favored
players
at
the
expense
of
the
public.
7
8. A
Taxonomy
of
Cronyism
1. Monopoly
Privileges
(ex:
franchising,
barriers
to
entry,
exclusionary
rights)
2. Regulatory
Privileges
(ex:
licensing,
limits
on
entry,
price
/
rate
guarantees)
3. Subsidies
4. Loan
Guarantees
5. Tax
Privileges
6. Bailouts
7. Expected
Bailouts
8. Tariffs
and
Quotas
on
Foreign
Compe33on
9. Noncompe33ve
Bidding
10.
Mul3ple
Privileges
Source:
Maj
Mitchell,
“The
Pathology
of
Privilege:
The
Economic
Consequences
of
Government
Favori0sm”
(Mercatus
Center
Working
Paper,
July
2012)
8
9. Dangers
/
Costs
of
Cronyism
Specific
Costs
ü Monopoly
Costs:
“Deadweight
loss”
from
lack
of
compe00ve
rivalry.
ü Produc3ve
Inefficiencies:
When
shielded
from
compe00on,
firms
get
lazy
and
less
efficient.
ü Unproduc3ve
entrepreneurship:
Cronyism
incen0vizes
firms
to
excel
at
poli0cal
entrepreneurship
over
market
entrepreneurship
ü Inaen3on
to
Consumer
Desires:
When
shielded
from
compe00on,
organiza0ons
worry
more
about
pleasing
policymakers
than
the
consuming
public.
ü Distribu3onal
Effects:
Consumers
pay
higher
prices
or
get
lower-‐quality
goods
and
services.
ü Loss
of
Innova3on
and
Diminished
Long-‐Run
Economic
Growth:
More
cronyism
=
less
innova0on
in
general;
can
limit
long-‐term
growth
poten0al.
9
10. As economist Gordon Tullock has summed up:
“Drawing the bulk of intelligent and energetic people in
society into an activity that has no social product, or may
have negative social product, is more important in
explaining the stagnation of these societies than the
direct social cost of the rent seeking...
…lobbyists in Washington… are very intelligent and
energetic people… They are the kind of people we would
like to have driving forward in production. Most, however,
are on the other side — seeking special privilege.
Unfortunately this collection of highly intelligent and
energetic people who could make real contributions to
society are reducing its efficiency.”
11. Costs
of
Cronyism
(cont.)
Big
Picture
/
Longer-‐Term
Costs
• Undermines
the
legi3macy
of
the
private
sector
/
capitalism
– True
capitalism
is
an3-‐cronyist
by
nature
– True
capitalism
hinges
on
mutually
beneficially
gains
from
voluntary
exchange
– Cronyism,
by
contrast,
skews
that
balance
in
someone’s
favor
at
the
expense
of
others
– It
is
important
to
note
that
cronyism
exists
in
every
economic
form
of
society,
including
socialism
and
communism
• Undermines
the
legi3macy
of
government
/
democracy
– lost
“social
trust”
• Moral
hazard
(reducing
self-‐reliance
/
personal
responsibility)
11
12. Case
Studies
Agriculture
• Sugar
program
• Ethanol
program
Energy
• Tennessee
Valley
Authority
• Synthe0c
Fuels
Corp.
• Solyndra
• Electric
cars
(Tesla)
Financial
sector
• Fannie
Mae
&
Freddie
Mac
• Wall
Street
bailouts
12
13. Case
Studies
(cont.)
Defense
• numerous
“military-‐industrial
complex”
case
studies
Infrastructure
• Highway
/
construc0on
programs
• Stadium
&
conven0on
center
deals
Industrial
/
Manufacturing
/
Trade
• Auto
bailouts
• Steel
tariffs
(Bush)
/
Harley-‐Davidson
protec0onism
(Reagan)
• Ex-‐Im
Bank
• State-‐level
economic
development
offices
13
14. Case
Studies
(cont.)
Network
Industries
• Transporta8on
– Railroads
– Airlines
(protected
cartels
prior
to
deregula0on)
– Taxis
(medallions;
Uber
restric0ons)
• Telecom
&
Media
– Telecom
monopoly
cronyist
origins
&
“universal
service”
programs
– Broadcas0ng
special
treatment
for
over
80
years
– Cable
TV
franchising
laws
14
15. Emerging
High-‐Tech
Case
Studies
• Apple
receiving
tens
of
millions
in
subsidies
and
tax
credits
from
Texas
to
open
a
facility
outside
of
Aus0n
• Facebook
is
also
geqng
tax
favors
from
Texas
and
property
tax
exemp0ons
in
Oregon
• Twier
recently
secured
massive
tax
breaks
from
San
Francisco
to
stay
there
• LivingSocial
recently
cut
a
deal
for
approximately
$32
million
in
corporate
and
property
tax
exemp0ons
in
Washington,
D.C.
• Groupon
received
$3.5
million
in
an
incen0ve
package
from
Illinois
• Motorola
secured
over
$100
million
in
tax
credits
and
incen0ves
from
Illinois
in
exchange
for
a
promise
to
keep
its
headquarters
there
• Movie
&
video
game
produc3on
incen3ves:
hundreds
of
millions
in
tax
breaks
and
inducements
now
flowing
to
movie
and
game
studios
from
states
across
the
U.S.
15
16. Solu0ons
(Part
1)
The
Meta-‐Solu3on
– The
cronyism
problem
is
inexorably
0ed
up
with
the
size
and
growth
of
government
– We
will
never
completely
constrain
cronyism
as
long
as
Big
Government
exists
– So,
the
easy
solu0on
=
cut
the
size
&
discre0onary
power
of
gov’t
whenever
possible!
16
17. Solu0ons
(Part
2)
Targeted
Reforms
• Defunding
or
depriving
those
who
received
special
treatment
• Sunsets
on
programs
and
policies
• Deregula0on
/
end
licensing
&
franchising
rights
• “BRAC”-‐like
solu0ons
when
possible
• Limits
on
congressional
delega0on
of
power
to
less
accountable
regulatory
agencies
• Clear
property
rights
&
cons0tu0onal
protec0ons
• “MFN
clause”-‐like
solu0ons
&
mul0lateral
accords
• Greater
transparency
/
disclosure
measures
• Moral
pressure
&
press
ajen0on
to
change
social
/
market
norms
17
18. Solu0ons
(Part
3)
Tell
the
Story!
• Get
the
word
out
about
the
costs
of
cronyism
and
these
case
studies
• Again,
moral
pressure
&
press
ajen0on
can
help
change
social
/
market
norms
and
lead
to
reforms
• We
need
to
create
a
social
s0gma
about
cronyism
– Make
it
uncomfortable
for
companies
to
engage
in
rent-‐
seeking
– Make
it
uncomfortable
for
policymakers
to
engage
in
rent-‐
extrac0on
18
19. Mercatus
Center
Resources
• “
The
Pathology
of
Privilege:
The
Economic
Consequences
of
Government
Favori0sm:
-‐
Majhew
Mitchell
(July
08,
2012)
• “Crony
Capitalism:
By-‐Product
of
Big
Government”
-‐
Randall
G.
Holcombe
(Oct
24,
2012)
• “The
Economics
and
History
of
Cronyism”
-‐
David
R.
Henderson
(July
26,
2012)
• “Gauging
the
Percep0on
of
Cronyism
in
the
United
States”
-‐
Daniel
Sujer
(Oct
17,
2012)
• “Government
Cronyism
and
the
Erosion
of
the
Public’s
Trust”
-‐
John
Garen
(Oct
11,
2012)
• “Cronyism
&
Capture
in
the
Informa0on
Technology
Sector”
–
Adam
Thierer
&
Brent
Skorup
(forthcoming,
2013)
19
20. Addi0onal
Resources
(Pt.
1)
• Gordon
Tullock,
Arthur
Seldon,
and
Gordon
L.
Brady,
Government
Failure:
A
Primer
in
Public
Choice
(Washington,
DC:
Cato
Ins0tute,
2002).
• Mancur
Olson,
The
Logic
of
Collec8ve
Ac8on:
Public
Goods
and
the
Theory
of
Groups
(Cambridge,
MA:
Harvard
University
Press,
1965).
• Randy
T.
Simmons,
Beyond
Poli8cs:
The
Roots
of
Government
Failure
(Oakland,
CA:
The
Independent
Ins0tute,
2011).
• Fred
S.
McChesney,
Money
for
Nothing:
Poli8cians,
Rent
Extrac8on,
and
Poli8cal
Extor8on
(Cambridge,
MA:
Harvard
University
Press,
1997).
• James
M.
Buchanan,
“Poli3cs
without
Romance,”
Policy
19,
no.
3,
(Spring
2003),
13-‐18.
20
21. Addi0onal
Resources
(Pt.
2)
• George
S0gler,
“The
Theory
of
Economic
Regula3on,”
Bell
Journal
of
Economics
and
Management
Science
2,
no.
1
(1971).
• Sam
Peltzman,
“Toward
a
More
General
Theory
of
Regula3on,”
19
Journal
of
Law
and
Economics
(August
1976),
211-‐40.
• Mark
Green
and
Ralph
Nader,
“Economic
Regula3on
vs.
Compe33on:
Uncle
Sam
the
Monopoly
Man,”
Yale
Law
Journal
82,
no.
5,
(April
1973).
• Theodore
J.
Lowi,
The
End
of
Liberalism:
The
Second
Republic
of
the
United
States
(New
York:
Norton:
2nd
Ed.,
1969,
1979).
• Adam
Thierer,
“Regulatory
Capture:
What
the
Experts
Have
Found,”
Technology
Libera4on
Front,
December
19,
2010.
21