1. What does the statement “all capitalism is crony capitalism” is referring to? Do you agree with this statement or not? Give an example.
The statement “all capitalism is crony capitalism” is referring to the fact that shows that sometimes the success of a company relies on the state or government and not to the free market, all the benefits that are born with this relation, and the way in which these benefits can influence on the market.
In my opinion, I truly agree with this statement because this is how things really work in this globalized world. The governments in order to achieve their objectives and what they want, thru history have created a strong relationship among them and the entrepreneurs and industrial scenario, because is a relationship that carry benefits for everyone, it’s a win/win situation; it’s a situation that can be seen every day in every country.
2. What is a Banana Republic? Why the author is comparing India with a Banana Republic?
“Banana Republic” means a country that is highly dependent on the agricultural sector and also highly corrupted, what allows the poor get poorer and the rich richer. The author compares India with a banana republic, because he realizes that if the country continues being the way it is nowadays, that much cronyism, it would end up being much more unstable that what it is actually.
3. Why is it problematic that in the business world “The Media” becomes a corporation?
Media is extremely powerful, and if it continues advancing through becoming a corporation, the result would be a much more powerful entity; that can highly damage or benefit some one or another; depending the side it takes: attacking/destroying or helping/benefiting.
4. In this situation, what behaviors are considered unethical for corporations, journalist and the state?
-Corruption: “relations” between high officials, politicians and commanders, and the important corporations in the country.
-Journalist: being able to do what it’s needed in order to achieve their objective; regardless if is something not correct; the news and information they present or discover regardless their consequences.
-State: having preferences with certain corporations/organizations, set objectives that can benefit just a little portion of the country meanwhile the others are suffering.
5. What can The Media, Corporations and the States do in order to behave ethically and in the benefit of the people and not their own interest. Give at least 5 good ideas.
-The State should act, think and work for the common welfare, for the community needs.
-The Media should be aware of the consequences, and also being able to realize how much good they can do for the community.
-The State should pursue corruption with all its efforts
-Corporations should work harder for their social responsibility and the community they affect, in order to help them develop as much as possible and promote their welfare.
-Media should assume as much as possible and regular a neutral approach over the news and situations they informed about.
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