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ENEC 201 Week 5 Notes: 9/19/16-9/23/16

by: Hadley Ashford

ENEC 201 Week 5 Notes: 9/19/16-9/23/16 ENEC 201

Hadley Ashford
GPA 3.776

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These notes finish the unit on decision making and cover economic models, the individual, and the shareholder value myth
Class Notes
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This 6 page Class Notes was uploaded by Hadley Ashford on Friday September 23, 2016. The Class Notes belongs to ENEC 201 at University of North Carolina - Chapel Hill taught by GANGI,GREGORY J in Fall 2016. Since its upload, it has received 23 views. For similar materials see ENVIRONMENT AND SOCIETY in Environment and Ecology at University of North Carolina - Chapel Hill.

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Date Created: 09/23/16
ENEC 201 Notes Week 5: 9/19/16-9/23/16 9/19/16 - State guided industrial transformation effect on environment: o Producing green technology is better for environment and will eventually increase profits (usually seen in Asian model that stemmed from original) o Climb to industrialization, however, usually is development at all costs- lots of fossil fuels and waste - Keynesian effect on environment: o Green Keynesianism: government used spending during recession to promote green technologies and developments  Happened in South Korea o Government spending on R&D: government should increase spending to increase positive externalities o Focus on microeconomic policies/practices to guard against negative externalities - Neo-liberalism/market fundamentalism effect on environment: o Voting with dollars: citizens can vote for green development by buying it in the market o Minimize environmental legislation to increase economic growth o Libertarians do not believe in environmental legislation because think it takes away freedoms o Environmental legislation destroys jobs and reduces freedoms - German and Social Market Economy: aka market socialism (market system with high taxes that have redistributive characteristics) o Mix of ordoliberalism and Christian Social Ethics (Catholic School) o Goal= alternative to Socialism and lassie-faire liberalism o Ordoliberalism aspect:  Suspicion of large companies because crush competition and good governance because economic power usually has large influence in politics  Pass legislation to favor smaller companies and harm monopolies/large companies  Active role of government:  State responsible for social security system, universal healthcare, unemployment insurance  Funded by taxes  Usually stronger after recessions because don’t lay off workers- decrease hours and encourage them to build skill set, paid a little more through taxes  Try to reduce income inequality, believe system is more equitable/fair - Comparison between US and German economies: o Germany increased life expectancy with Post-war system (now exceeds US) o Germany exports 4x more than US o Germany develops more renewable energy than US  View problems as opportunities- find solutions and innovations to get by o Lower unemployment in Germany than US o German companies grow stronger after recessions and take away market share from US/British companies o Germany prioritizes family/community  Businesses close early on Saturday and all day Sunday  Illustrates religious values in economic system o US has increased death rate of middle-aged whites  Only developed country seeing this trend - Great Convergence: global wealth is shifting east, more spread out globally, less polarized along North-South divide - Challenges/problems of state guided industrial transformation o Reliance on fossil fuels o Resource scarcity - US has one of longest environmental movements - US environmental movement focused on romanticism o John Muir: industrialization/urbanization represents the fall of man, dehumanizing- must protect wilderness to promote healing/wholesomeness  Preservationism o Conservationism: began with Teddy Roosevelt  Protect forests for today and future  Government should own land meant to be preserved  National goods (wildlife) are owned by taxpayers, so companies shouldn’t be able to buy, profit on, and exploit - First big failure of US environmental movement: o 1980’s and 1990’s clung to idea of protecting/conserving wilderness spaces  Didn’t focus on what other environmental problems result from urbanization/industrialization - Second big failure of US environmental movement: o Tribal nature of political system, bipartisan system o People stick to ideas of own party/tribe o Failure to influence/appeal to conservatives/Republicans o Many environmentalists (Democrats) have holier than thou attitude, which doesn’t want to compromise to make changes o Many environmentalists view environmental protection as moral issue and won’t pass policies that protect environment that stem from other interests  Republicans will support environmentalist legislation for economic gain, but Democrats refuse to do it for that reason - Third big failure of US environmental movement: o Groups divided within political parties o Democrats (groups within)  Minorities  Environmentalists  Young people  Women o Must allow boundaries to dissolve and form coalitions to attack large issues US environmental movement was successful in 1960’s and 1970’s, but must adapt to changing times - Many different environmental groups with different interests and agendas o Must have more united movement 9/21/16 - The individual/sources of identity: powerful influence on behavior o Premodern sources of identity: agrarian feudalism  Little social mobility  Identity inherited  Ex. if born a Catholic serf, that’s what you would be your whole life  Many believe this limits freedom to choose identity  Fraum (sp?) argues that ability to choose is paralyzing- too many choices and fees good to automatically belong somewhere  Appeal of fascism o Modern:  Consumer culture  The “isms” that are negative reactions to consumer culture  Ex. religious extremism as backlash against secular materialism of consumer culture - Consumer culture o Promotes idea that happiness derived from marketplace and consumption  Happiness used to be thought to come from relationships, community, security, etc. o Short-term thinking and instant gratification  Undermines long-term investments in social or individual factors o Objectification of relationships o Collective issues not prioritized o Negative effects on personal well-being o Consumer goods to communicate:  Identity  Status: evolutionary because increases ability to reproduce  Belonging: humans need to feel a part of something  Artificial tribes/communities: not based on relationships  Life purpose: consumption signals life goal of increasing wealth - Trends in past 60 years related to consumerism: o Increased narcissism o Increased self-consciousness o Appearance-obsessed: worry about what others might think of us o Increased anxiety and depression - Reasons for above trends: o Media: advertise that objects can fix problems  Individual advertisements don’t necessarily cause this, but constant bombardment  creation of norms/values o Globalization undermines local sense of community  More people interact with strangers often- worried about impressions constantly  Become increasingly anonymous in society o Social media: leads to upward social comparisons and sense of status  Artificial ego-boosting: like people’s pictures so they’ll like yours- doesn’t really mean anything or signify relationships/popularity  Diminished enjoyment: more focused on appearing happy on social media than actually enjoying activities  Upward social comparisons: people compare themselves to others online that don’t actually represent who they are in real life  Undermines real relationships: friends on social media can’t replace true relationships- don’t provide relational support o Two types of self-confidence:  True self-confidence: accept criticism, feel comfortable with themselves, make friends easily  Shallow self-confidence: violence, narcissism, rash behavior  This type of self-confidence increases with consumer culture o Millennials have trouble in interviews because have less experience in communication/conversation  Communicate through social media/technology  Less in-person communication o Social evaluative threat:  Humans evolutionarily seek higher status  Evolutionarily respond to stressors with release of cortisol  fight or flight response  Today, threat to social self/status causes release of cortisol as well  Deteriorates health  Main types of stress: o Social status o Lack of close relationships o Stress in early life - Materialistic value orientation (MVO) o High MVO means prioritize materialism and consumerism o Harmful to individual:  Low self-acceptance  Weak affiliations, less community feel  Lower quality of life  Reduced relationship quality  Increased depression/anxiety o People have high MVO’s not because it brings actual pleasure, but because it helps them fit into society and increase status, but because it helps them fit into society and increase status o High MVO’s in college: drug use, increased risk of personality disorders, more promiscuous behavior, narcissism - Development of high MVO’s: two main pathways o Socialization, internalization, modeling: mimic what is modeled in environment o Insecurity from:  Threats to status  Low income/poverty  Poor home life: divorce, single parent homes  Appearance and upward social comparisons  Political instability and violence (and how it’s portrayed in the media)  Unemployment - Relatedness undermined by high MVO’s o Don’t make the best friends o Competitive rather than cooperative o Less empathy o View relationships as tools/disposable o Less concern for others - Autonomy affected by high MVO’s o Pursue goals because of external pressure instead of intrinsic motivation o More reward-focused instead of enjoyment-focused - High MVO’s also bad for environment 9/23/16 - Need to keep money circulating in economy without increasing carbon footprint or focusing on acquiring stuff to increase status o Spend more money on leisure activities  Entertainment  Sports  Gyms  Movies o Ability to focus on leisure activities mostly concentrated in urban areas o In rural areas and suburbs, people spend good portion of money on gas for commute, so less for activities  Less locally produced goods/services o Cities encourage residents to spend money close to home o Bigger houses (as seen in suburbs) encourage people to fill them with consumer goods (increased MVO) o Less space in cities to acquire as much stuff - Corporate personhood: corporations had the right to contribute to political campaigns o 1907 Congress passed law to prevent corporations from using corporate money in election campaigns o Limited influence of corporations in politics - Shareholder model: company should focus on maximizing returns to shareholders by increasing capital o Short-term oriented, focus on increasing profit - Stakeholder model: companies should focus on benefits of everyone (shareholders, employees, manufacturers, etc.) o Long-term and goal oriented - Shareholder model not supported: o No legal foundation o Companies that use shareholder model do worse than companies that use stakeholder model o Conflict between short-term and long-term investor interests o Shareholders sometimes don’t want to invest in companies only focused on short-term o Shareholders have many different values- not always profit maximization - Relationship between shareholder model and Wells Fargo Fraud o Shareholder model is “by any means necessary”, including illegal activity and hurting employees o Opening unconsented accounts only benefits those making profit o Increased Wells Fargo stock value, which benefits shareholders, not customers or employees - Satisficing: companies shouldn’t try to maximize single variable, but should try to do decent job in many areas o Invest in safety and safety procedures o R&D: have to innovate or other countries (China) will do better o Better marketing o Focus on customer and employee loyalty by making decisions that benefit them o Focus on environmentally friendly policies o Protect taxpayers: companies should feel obligation to do good things for public o Long-term focus


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