Management and Organizational Studies 2275A/B Lecture 7: Business Law 2275- Lecture 7

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Property law property = capital = basis of capitalism: talks about how capitalism is flawed because its based on inequality, but it assumes everyone has equal opportunity. This isn"t true obvi and he speaks about how the rich stay richer with lower taxation (employment income taxed high and investment income taxed low. ) It"s legal but it doesn"t mean it is just. The power stays in the hands of the rich because they keep getting richer. Scandinavia who has lowest gap between rich and poor in the developed world has highest metrics for these: we focus on intellectual property today: struggle between owners and users is very much alive here too. These are familiar capitalistic arguments: moral argument= i made it i should control it, economic argument= if its successful i should get more $. Argument = we should foster this and give incentives for you to work hard because the result is that you get success.