1. What does the statement “all capitalism is crony capitalism” is referring to? Do you agree with this statement or not? Give an example.
The statement is refer to the most common way of corruption that exists in both developing and developed countries, “all capitalism is crony capitalism” means that in India the entrepreneurs that has the best relationships with the government, are those who more benefits gets from it. The benefits range from economics to “do or not to do and say or not to say”. I think that the statement is totally true because nowadays the economic and financial sector have much power over governments because of the consequences that they decisions could cause (ex: speculative capital).
To not to go so far we have a recent and local example, is about what happened in Bogota with the Nule group. Because of their relationship with Samuel and Ivan Moreno and their economic power; in the past 5 years they signed a large number of million-dollar contracts. Now it is bringing the legal consequences but it could easily stay unpunished.
2. What is a banana republic? Why the author is comparing India with a banana republic?
A banana republic is a country where the crony capitalism is the daily bread and positions and jobs are given not because of the profile of the candidate but favoritism or favors debt. Sainath compares India with a banana republic because this is has been a practice carried out by more than 20 years, creating an unbalance power that would became harmful for the Indian economy.
3. Why is it problematic that in the business world “The Media” becomes a corporation?
When a media becomes a corporation the problem appears when the information they are transmitting is manipulated and most of the cases is not truth. But why it is important if they are lying? Simple question, that’s because of the influence that media has over the receptor; Ads can tell us since what to buy to what to do with your life.
4. In this situation, what behaviors are considered unethical for corporations, journalist and the state?
The corporation, controlling the media and acting just to be more profitable.
The journalist, manipulating the information
The state, benefiting their cronies
5. What can The Media, Corporations and the States do in order to behave ethically and in the benefit of the people and not their own interest. Give at least 5 good ideas.
· Journalist should be responsible for what they are made for: informing people with the truth.
· The state would act as a real manager by obligating corporations to act in benefit of the people none of themselves.
· Create regulations that punish the unfair competition and disclosure of untrue information
· Corporation must stop thinking about their earnings and be aware of the people and somehow generate development.
· Corporation could create campaigns not only to reach the market but also to make people aware of the importance of being objective when addressing the information.
References:
The Hindu (2010) The Republic on a banana peel. P. Sainath. Opinion. December 3, 2010. Retrieved from: http://www.thehindu.com/opinion/lead/article927895.ece?homepage=true
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