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Cards In This Set
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What did Korten say about the relationship between money and wealth?
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Money is not wealth it represents buying things. The making of money destroys wealth. He indicated that from real wealth are such things as natural resources, a skilled workforce, a safe and stable society, and effective/honest government
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What are "Finance Capital" and "Fincance Capitalism"?
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Making money out of money w/out making anything useful; trading rather then producing
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Two other forms of capitalism?
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1.) Natural
2.) human |
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Do increases in share prices necessarily refllect an increase in productive capacity or output?
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No since it is often accomplished by cutting cost, jobs, etc and manipulation of financial reports
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In order to increase share prices as financial markets demand what is an example of corporation depleting for Natural capital?
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Strip mining dumping toxic waste
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In order to increase share prices as financial markets demand what is an example of corporation depleting for Human capital?
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Poor working conditions low wages
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In order to increase share prices as financial markets demand what is an example of corporation depleting for Social capital?
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Union busting relocationg plants
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In order to increase share prices as financial markets demand what is an example of corporation depleting for Institutional capital?
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Corrupting Govt for favorable policies
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How did the Malaysian Forest minister propose to increase Malaysian wealth?
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To cut down its forests sell the wood put the profits in the bank so it could earn interest
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According to Korten does the increase in GDP necessarily indicate an increase in our well being? What are some specific examples when this may not be the case
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No.
Children buying guns and cigarettes Divorces Security Devices Enviromental Cleanup |
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Are our political leaders able to asses the ecnomic health of the nation using stock market increases and GDP growth as an indicator of economic success? Can they confidentally predict that more jobs and increased wages will follow?
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No. They can only predict that the rich will get richer
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What does Korten suggest as alt to the global capatalist economy? name two
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Market Economy
Democracy (particularly in Corps) |
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Wht org calculates GDP?
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Bureau of economic Analysis, US Dept of Commerce
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How do they do it? what kind of info is involved?
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They calculate based on some 10,000 streams of data that describe recent economic activity in the US
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Why are security measures protecting GDP data so strict
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A premature unveiling or leak of the data would put the world markets in turmoil
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