During the last part of the 19th century, men like JD Rockefeller, Cornelius Vanderbilt, J. P.Morgan and Andrew Carnegie became incredibly wealthy. Why were they referred to as the “robber barons?” | Coursehero Solutions

Un?OL326 Summer 2016 Mid-Term

• During the last part of the 19^th century, men like JD Rockefeller, Cornelius Vanderbilt, J. P.Morgan and Andrew Carnegie became incredibly wealthy. Why were they referred to as the “robber barons?”

• The discussion about corporate responsibility begins with the concept of the “social contract.” What is meant by the term, the “social contract?”

• Money and power seem to go together. Big business has the capacity to accumulate vast sums of money and use it to influence the process of government. Does the money and power of big business influence the way government, at all levels, works in Saudi Arabia? Explain

• The rich seem to be getting rich and the poor seem to be getting poorer. We describe that fact as income inequality. Is there income inequality in Saudi Arabia? If so, who has responsibility for developing solutions? If not, why is there no income inequality?

• The United States fought the revolutionary war with Great Britain because of the actions of the English King, George III. When the leaders of the country were drafting the Constitution and developing the structure of the government¸ they built in protections to limit the power of any one individual (such as the President) or any one branch of the government ( the legislative or judicial branches). In your country, do people worry about the governmental, economic power being controlled by a relatively small number of people?

• What is a non-governmental organization. Are there any influential NGOs in Saudi Arabia?

• As we have discussed, American citizens have expectations about how companies will behave, how they will treat the purchasers of their products, how they treat their employees, how they respect the environment. What type of corporate behavior does the average Saudi citizen expect?

• Over the past fifty years, many observers of politics and economics have become concerned that Americans have become too dependent on their government to help them out. Social Security, unemployment insurance (which provides income when people are out of work), food stamps ( so that people can have the government help them pay for food) are some of the examples. Some worry that people lose their initiative, their drive, their willingness to work hard because the governmental programs will bail them out. We have talked a little about Saudi Arabia and the many benefits that the government gives its people. Are there dangers to the government being too generous and protective?

• Americans expect their government to protect them from bad companies. The government has passed laws to punish companies that cheat and lie, they have created government agencies like the Food and Drug Administration ( which is responsible for making sure that the food we eat and the medicine we take is safe). And the Environmental Protection Agency ( which focuses on making sure that companies do not pollute the water or the air). Are there similar governmental agencies or departments in Saudi Arabia.