Geography 3422A/B Study Guide - Product Placement, Profit Motive, Bovine Somatotropin

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Extraordinarily powerful but necessary in our world. Corporations were originally associations of people organized by the state to fulfill a certain mission. Corporations under the law is considered a legal person: can buy and sell property, can sue and be sued, can borrow money. Corporations are required by law to put its bottom line ahead of everything else, even the public good. Externalities the effect of a transaction between two individuals on that third party: each corporation is designed to achieve some external objective at almost any cost. Corporations hire low cost labour to make more money: corporations soon find they can"t do anymore in a certain country because the wages are too high when in fact the employees are just barely getting by. Animals: toxicological testing on cows showed that cows who took a drug to make them produce more milk, in turn caused large problems for the cows themselves such as infections, which was then transferred to humans.