Lecture 20 Outline of Last Lecture I Scientific Communication II Social Impact of Biotechnology III Climate Change IV Impact of Climate Change V Climate Change and Society VI Computers and Society VII Impact of Internet Outline of Current Lecture VIII Impact of Science and Technology on Society IX Pre Captialism X Enclosure Movement XI Technological Innovation and Agricultural Revolution XII Technological Innovation and Industrial Revolution XIII Early Capitalism Impact on Society XIV Special Kinds of Persons XV Externalities XVI Environment SOC 100 1st Edition XVII XVIII XIX XX XXI Labor Political Influence Corporations as Persons Corporations as Individuals How to Make Corporations Better Persons Current Lecture I Impact of Science and Technology on Society a Migration Patterns b Politics i science and technology gets filtered through political views and parties c Economics and Captitalism i capitalism is promoted by the rise of technology and scientific innovation ii Technology by controlling nature we can impose some control over economic and social conditions II Pre Capitalism a economy based on subsistence and barter i people grew the food they ate made own clothes spun own cloth ii barter trading goods b organization of economoy i way economies were organized is referred to as feu dalism 1 lords own the land 2 vassal granted rights to the land a run smaller communities under protection of larger barring farms markets landlords b control over property c they give the lord military protection of the land that they control d and they get the right to keep all the profits from the lord e middlemen 3 serfs are the peasants who work the land a working for the vassal b farmers shoemakers c trying to make the most out of the land d right to subsistence III Enclosure Movement b Village Commons i shared resources for livestock and farming c Enclosing the commons i put hedges around common areas and excluded villagers from access ii justified by farming techniques iii Beginning of Private Property Rights 2 control over proptery went from common villages to exclusive control of government and aristrocrafts IV Technological Innovation and Agricultural Revolution b Agricultural Technological Innovation i seed drills 2 produced uniform hole put seed in exactly right space and covered it with right amount of soil ii selective breeding 2 breeding cattle livestock iii crop rotation 2 idea that you couldn t plant same crops over and over again because of depletian of soil c Impact i to improve productivity of the land 2 output of food goes up a feeding more people and more products to sell V Technological Innovation and Industrial Revolution b Industrial Technological Innovation i Factory Machinery ii Steam Engines 2 means of propulsion that allowed faster trans portation without relying on horses or man power c Impact i created new markets 2 allowed extraction of natural resources 3 transportation VI Early Capitalism Impact on Society b Mass Migration to the Cities i moving away from country side agriculture to the city ii displaced farmers no longer needed to work the land iii more food more people iv supplying labor pool for industry c Wage Labor System i people paid in money rather than trade barter ii wages not tied raw materials accidents or other aspects of production VII Capitalism Impact on Society b Development of Social Institutions i Currency 2 faciliates exchange makes more efficient 3 depends on trust ii Stock Market iii The Corporation 2 legal entity that has a legal personhood distinct from that of its members its owners and shareholders 3 without law corporations don t exist entirely legal construction 4 Grant of Personhood a limits liability of investors i protects investments ii attracts people to invest b allows corporations to enter into contracts c allows them to be sued VIII Special Kinds of Persons a Committed to Shareholders iii corporations are supposed to maximize profits 3 in the SHORT term iv more important than any other competing interests b Less interested int Stakeholders iii labor neighbors public interest iv externalities IX Externalities a costs of doing business the corporation is going to try to find somebody else to pay for b What kinds of conduct might emerge from self interest profit motive c What is the impact on society X Environment a Maximizing Profits iii Water Pollution 3 BP Deepwater Horizon a hasn t been thouroughly tested 4 Air Pollution b Impacts iii environmental illnesses iv economic damage v Climate Change XI Labor a Maximizing Profit iii ensure that workers are productive as possible iv pay workers as little as possible v Outsourcing b Impact iii Drives down wages and creates income inequality XII Polticial Influence a Maximizing Profit iii make sure that the state protects the corporations shareholder s interests iv pro business laws deregulation b Impact iii massive amounts of campaign contributions XIII Corporations as Persons a Free Speech iii Citizens United vs Federal Election Commission 3 these associations of individuals have the right XIV of free speech a protect newspapers right to publish dissenting views 4 Court Held Campaign finance laws prohibiting corporate contributions restrict their rights to free speech Corporations as Individuals a Freedom of Religion b Sibelius vs Hobby Lobby iii Affordable Care Act Obamacare requires employers to provide health care to employees including contraception iv Hobby Lobby objects on the basis of religious freedom v waiting for court s decision XV Making Coporations Better Persons a Corporate Social Responsibilty iii Greater Recognition of Stakeholders iv Voluntary Improvements to Labor Policies Environmental Controls etc v Greenwashing b Regulation iii governments placing limits on economic activity 3 emission controls 4 wage and hour legislation 5 campaign finance reform