SOCI 1001 Lecture Notes - Lecture 9: George Ritzer, Opiate, Mcdonaldization
10 Aug 2016
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Limited liability: corporation can be sued but shareholders aren"t responsible. Rise of corporations is to limit risks taken by entrepreneurs. Politicians thought if shareholders aren"t responsible than they would engage in harmful and reckless behaviour. The size and power of corporations grew very quickly. Interest of corporations dominates political life in capitalist countries. Structure of corporate governance smooth"s conflict in the upper class. Bce purchases assets quickly and also resells them. Board of directors are full of people who are on several boards. Economic power is highly concentrated in certain group of people. Large corporations are controlled by small group of people. People sit on different boards of companies who are seen as rivals . Argues that human behaviour is meaningful and motivation becomes rational in modern capitalist society. Intrumental-action: kind of motivation behind most economic behaviour. Modern society is going through a cultural shift. No ideal type perfectly goes with any person.
