Unit 2: Corporation Qs

Question 1

Corporations are:

Answer 1

• Form of business ownership
• Legal entities that are separate/distinct from owners
• Business has the right to enter contracts, loan, and borrow money, sue and be sued, hire employees, own assets, and pay taxes.
• Individuals have limited liability, which means they can’t be sued personally or receive jail time for actions of business.
  Can be public or private.
• Shares of private corporations privately traded, public corporations are freely traded.
• Can only be established through government authorization
  Common shares

Question 2

Corporations:

Answer 2

It’s a group of individuals working together to achieve a set of objectives, including large legal returns for people that own the business.

Question 3

“Business community: or “company” is a ____ representation than the skewed definition of corporation.

Answer 3

much fairer

Question 4

There are very few ____ ____ in early U.S history

Answer 4

chartered corporations

Question 5

Corporations have “no ___ to save and no ____ to incarcerate”

Answer 5

No soul to save and no body to incarcerate

Question 6

Externality:

Answer 6

Letting someone else deal with the problems.
Corporation is an externalizing machine

Question 7

Corporations pay workers

Answer 7

cents on the dozens or hundreds of dollars that an item is being sold for

Question 8

Extremely low-cost labour

Answer 8

6 minutes to make a shirt, and 70 cents for making the shirt for the worker

Question 9

Personality diagnostic:

Answer 9

callous unconcern for others feelings. And incapacity to endure maintain enduring relationships

Question 9

Harm to human health:

Answer 9

pollution, toxic waste, synthetic chemicals
Harm to human health: pollution, toxic waste, synthetic chemicals

Question 10

Synthetic chemicals in

Answer 10

air, food, and water that cause cancer due to corporate carelessness

Question 11

Fungicide, a child was born without eyes: due to the

Answer 11

environmental effects
Industries have known about this since day 1, and attempted to trivialize these risks

Question 12

Personality diagnosis

Answer 12

Reckless disregard for others

Question 13

Due to corporations, we’re in the middle of a cancer epidemic:

Answer 13

1 in 2 men get cancer in their lifetime, and 1 in 3 women get cancer

Question 14

Harm to animals:

Answer 14

habitat destruction, animal experimentation, and use of dangerous chemicals

Question 15

Corporation lied through their teeth about not using

Answer 15

hormones/antibiotics on the cows that produced milk

Question 16

Personality analysis:

Answer 16

Deceitful; repeated lying to others for profit

Question 16

BST results in

Answer 16

unnecessary suffering and distress for the cows

Question 17

Governments around the world pay farmers

Answer 17

not to produce milk

Question 18

Cow’s infections and bacteria can end up in the milk from the drugs that make them

Answer 18

sick. Cows become ill when injected with drugs/antibiotics

Question 19

People drinking this milk are consuming antibiotics,

Answer 19

and this is contributing to antibiotic resistance

Question 20

This is all bad for the cow, farmer, and consumer

Answer 20

Herbicides used by corporations caused birth defects and thousands of cancers

Question 21

Personality:

Answer 21

Inability to admit guilt. Corporations submitting a public admission of guilt is harmful for business and profit.

Question 22

Harm to biosphere:

Answer 22

• nuclear waste
• Polluting river with toxic white foam in search of wealth
• Corporate criminals of the 90s= Exon: Pled guilty to federal criminal charges
  General Electric: Guilty of defrauding federal goverment
  Kodak, IBM, Pfizer are all guilty

Question 23

Personality analysis:

Answer 23

Failure to conform to social norms with respect to lawful behaviors

Question 24

Cost of paying a penalty is less than the cost of complying with

Answer 24

rules/regulations Every living system on Earth is in a decline due to corporations “Intergenerational tyranny” A form of taxation without representation

Question 25

Corporations exhibit psychopathic behaviour. FBI agent says that corporations have all the characteristics of psychopathy.

Answer 25

“A building can’t have social responsibility, neither can a corporation”

Question 26

Corporations are working against evolution.

Answer 26

Example of this are self-destructive seeds “The death of birth” - Expresses extinction of species

Question 27

Privatization of wealth and resources creates problems that conflict with the

Answer 27

best interest of the public

Question 28

Advertising manipulates children to buy company products

Answer 28

- Children nag their parents to convince them to buy products, which is the advertising goal - Corporations main goal is to maximize profit/market share

Question 29

Biotechnology companies patent important human genes such as cancer-linked genes.

Answer 29

- Milk company threatened Fox News for exposing their use of injecting cows with drugs. Corporations want an honest reputation, so they didn’t want a report on their product negligence.

Question 30

Corporation lawyers said: corporations can’t be deprived of a person of life, liberty, and property.

Answer 30

They claimed that corporations were people in court. 14th amendment was passed to protect newly freed slaves. Judges applied those rights gained by freed slaves to capital and property.

Question 31

Corporation bottom line is to how to make as much...

Answer 31

- money as possible in a single quarter, no other goal - Required by law to prioritize financial interests

Question 32

Rainwater became privatized in...

Answer 32

Mexico, and low-income individuals had to choose between necessities such as groceries and healthcare to pay for water.

Question 33

Fascism rose in Europe by the help of corporations IBM helped...

Answer 33

- keep records of prisoners in the holocaust Corporations are extremely unethical and commit illegal acts to keep profits high despite consequences for others, especially the poorer individuals.