Punitive Damages: Punitive damages are very rare and they have a specific purpose which is to change the behavior of the wrongdoer. This are awarded in addition to actual damages and are considered as a punishment for the defendant. In fact, one of the jurors of the documentary claimed that punitive damages are “the only way you can get the attention of a big company.” So, with the punitive damages the jury is trying to set a public example to others for malicious, negligent, violent acts. Compensatory Damages: This refers to the sum of money that is awarded to the plaintiff, this money indemnify him/her for the injury suffered, loss or detriment. So, in the Hot Coffee case the compensatory damages indemnified Mrs. Liebeck burns, the medical
The Securities and Exchange Commission or the SEC was an organization designed to protect investors by maintaining a fair market. However, this resulted in many businesses to dislike the New Deal. The SEC resulted in two contrasting perceptions, one was that the government is taking too much control, and the other is the government is controlling just as much as it should. These two conflicting ideas are known as Conservatism and progressivism. Progressivism brought many key ideas and movements to form a better union.
More so, consumers may become addicted to their desires in the purchasing of a product, which only alienates them from better products that may actually improve their lives. Marx’s theory of commodity fetishism defines the dangers of a capitalist society that is controlled a by a small group of bourgeoisie owners that seek profit through a narrow selection of products. More so, consumers are often unaware of the dangers of these products and the addictive properties of a commodity that dominate their lives. In this manner, a sociological analysis of Karl Marx’s commodity fetishism has been analyzed within the problematic issues of an American consumer
The main arguments against it include making the market unfair to those outside of the firm, the potential for many investors to leave the market based on their perceived disadvantage, and the rightful duty to punish all those involved with scamming others. Although reasonable, these arguments are not necessarily correct. Insider trading actually benefits the economy as a whole by making stock prices more in equilibrium to their true value, it helps minimize potential losses to individual investors who want to buy, and the immense amount of resources is not worth trying to prove something that cannot fully be enforced. Maybe there should be some type of balance between legal and illegal insider trading. By making it completely legal, enforcing insiders to report or disclose that they are insiders may help the unfair and negative connotation insider trading is associated with.
Corruption will create social class and it is unfair to all the citizens. It also widens the gap between wealthy and poor and it cause further problem. For example, the corrupted people can enjoy a better life but other is still get trouble on how to live a good life. The most dangerous effect of corruption is when judiciary is corrupted. Development, justice and civil society are based on law and justice, but in developing countries corrupted people uses law to justify their illegal behaviors.
Whistleblowing, the act of exposing classified information from the government or corporations, is hotly debated. By nature, whistleblowing is generally used to expose corruption within these agencies. Some believe whistleblowers should be prosecuted for breaching security, while others fully support their legal protection for the sake of preserving ethics. What must be answered to validate either side of this debate is whether whistleblowers cause more harm or good. From example, it can be concluded that they are far more beneficial to society than detrimental, and thus should be protected to the fullest extent of the law.
Illegal drugs are that resource. However, not everyone will try to exploit this resource because it is illegal and the distribution of this drug is extremely dangerous. For the manufacturing, transportation, selling, use or possession of drugs, one can be severely punished. Even with this high risk, people will distribute illegal drugs because it is extremely profitable. As, in a scene in Francis Ford Coppola’s, the Godfather, there is a business negotiation on the terms of distributing drugs to poor neighborhoods
Racial profiling is to suspect someone of something (usually negative) due to the color of their skin. It is frowned upon by many but sometimes it is a necessary evil in the world of business. When running a business, all that matters is the BUSINESS. Sometimes that means doing things that you don’t always agree with. However, if it means keeping your business successful you do it no questions asked.
Climate change is denied is due to the prioritization of business and the economy. Large corporations create their products with uncostly materials, in order to profit more, and those materials are more-often-than-not non-renewable resources or cause damage to the Earth. These corporations prefer to not be targeted with accusations of the unethical damage they are causing. Therefore, they create propaganda against climate change, they create doubt among their customers. It is considered a business tactic to create news surrounding issues, in order to distract the consumers from whatever controversial issue that is, or could be, affecting their sales.
However, it also contains the unlimited for the potential profit that can help them to make on how the decision is going to make on the entire for the business rather than the consumer negotiations. Next, it also can cause the industry insiders also very not so satisfied because there does not have the power for the buyers to negotiate on the terms for the products and it also can cause the industry outsiders are not so satisfied because the industry will always exploit and charge the exorbitant
Globalization has many negative effects in our world. The first problem with globalization is that international trade is exacerbating income inequalities between industrialized and nonindustrialized nations. Secondly, Global commerce is dominating the corps that want to maximize profits without a regard for the development of the country. Lastly, the countries involved with globalization lower their environmental standards in order to attract foreign business investments. In order to reform globalization, the government should change the ‘rules’ because they are unequal.
Novelty Now from producing dangerous products. However, if many people have suffered from the product, a class action suit may be initiated because there is no guarantee that some other clients would not experience skin discoloration and it would make it very costly for the company to
The introduction of monopolies through information asymmetry or negative externalities cause market failure for the Unites States, because it is hurting society and competitors are unaware of other firm’s doings when making their decisions. The FCPA wanted to correct all the wrongdoing and restore