BUS 1050 1nd Edition Lecture 12Outline of Last Lecture I. TawneyOutline of Current Lecture II. Continue TawneyIII. Introduction to CarnigieIV. Introduction to RandCurrent LectureMidterm Exam 10/20/14. Will contain one essay question, and/or one optional one. (Tawney, Emmerson,or Faber)“anyone that claims to be serving society is faking it” –Adam SmithContinue to service society is the bottom line.P199. L70. Belief of social purpose.*P 200. L1-77. L 20. Lord Gainford. Social purpose is more important than profit. Boycott led to lowered prices, due to threat of losing market share and revenue.*P 201. L 18. Two societies: Function, acquisitive. Work before money decided by contribution-Functional.Acquisitive Society- L 40. Acquisition of wealth. L 75. Realizes opportunity can be taken away. Should have right to pursue self interest.Ptolomy in 1st century – Geocentric CosmologyCopenicius (15th and 16th) discovers sun as the center of universeGalileo (16th and 17th century) discovers concentric cosmology based on sun findingTawney (20th and 21st) discovers solipsistic cosmologyMortals who fail or immoralist that succeed.CarnigieWealthiest man in early 1900s. These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Corporate Social Responsibility.Carnegie Created first mass manufacturing Bessemer steel. Engaged in vertical integration. Coke->Ore-> Process -> Bridges or Rail Roads.P 209. Increase education, parks, and improvement of self.L 95. Solves problem of rich and poor. Individualism and distribution may be free. P210. L1. Always a conflict between those who have and don’t have. (marx reflected conflict)Conflicts resolve would allow labor to be sustained.P205. L62. Socialism and capitalism does not work. So we should prepare to give back.P 204. L 72. Those who own stock do not have sympathy for laborers, and vis versa. Often friction between employer and employee. P205-207. Labor can benefit. Must have purpose to preserve. The advantages of competition are greater than law. Carnegie-Gospel of WealthP 205 L 35. Social DarwinismAnarchist standpoint, if you don’t put work in, you will not be rewarded.L38. Rich are born to be rich. P206. L51. 1st means) money becomes wasted. 2nd means) give it away3rd means) libraries parksTolstoyP208. L62. Religion influence. Sacrifice to life people within community.P214-215. Intro to John D Rockefeller Jr. Business built for: Capital, Management, Labor, and Community. *L17. P221. Infinite profit and growth are interest of societies. L 41. Corporate has direct responsibility to employers. Responsibility to conduct business in their desires. P224. Cause Related Marketing. L32. Corporations have no social responsibility. Ayn RandConservative Economic Views. Ideas similar to Friedman. Mind-> Idea->Production->Sales-> Demand and ConsumptionLove of Money. P167. L1. The root of money?Rand believed that religion was full of fantasy and myth (she was
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