note cards for intb.txt

  1. How was Egypt drawn into supporting and financing the construction of the Suez Canal?
    Muhammad Suez said no, and was against his son�s obesity, had Muhammad Suez on a strict diet, Ferdinand De Lesseps believed strongly that a canal should be built, he befriended the son. When the son came to power he gave little hesitation. Then when De Lesseps only sold 200,000 of the 400,000 bonds (most by middle class only buy 9 each) he lied and said Suez bought the other half, when Suez said no, De Lesseps asked if he would make him a liar publicly, so Suez went to the bank of England and borrowed with large interest rates.
  2. What was the strategic importance of the Suez Canal for the First Global Economy?
    Wanted canal open to all nations without discrimination, England did not want someone else to have an opening to India, so blocked the 40million dollars of loans to get to them� eventually giving one to Suez. It connected the two seas.
  3. What kind of effects, do you reason, the international telegraph had on international commerce?
    For the first time in history North America and Europe were linked, and Britain had instant communication with the colonies she had lost 75 years before. Bonded the Christian nations together. 1858 Queen Victoria sent a telegraph to the president for congratulations.
  4. Ferdinand De Lesseps
    wanted canal open to all nations without discrimination, tricked Suez into financing it.
  5. Corvee Labor
    Worked on the Suez canal, families came along because the support (man) was leaving, worked 18 hour days for 5 to 6 years. Questioned if they were indeed paid, was like the military, you had to do it. A way of Suez giving the labor he had promised so they would not have to pay.
  6. Cyrus Field
    had a great obsession for epic projects, thought he could lay a wire in the ocean to connect Europe with North America. Would not back down no matter how many times the wire snapped. 4 times, still went back for better cable better machines, a bigger boat. Finally connected them, and lasted. Making Washington mutual drop out of the race to connect Europe and North America by land.
  7. The first chapter asks interviewees to search for metaphors to describe what a Corporation is and does. Which metaphor do you find most apt?
    The jigsaw, �corporation is part of a jigsaw in society as a whole, if you remove it the picture is incomplete, but equally if it is the only part it is not going to work.�
  8. The second chapter analyzes the "birth" of the corporation as something recognized and protected by U.S. law. How and why did the nature of the corporate form, and its stated legal purpose, change over time?
    1712�coal production, all about productivity, dawn of the industrial age. Now there are more gizmos per man hour, same system, products. They could not own anything else Started wanting constraints to be removed, 14th amendment gave black men freedom, corporations said well we are a person; Supreme Court went along with it. 14th amendment was to protect newly freed slaves, 200 cases for corporations, 19 for African Americans. Judges applied the rights to capital and property while stripping them from people.
  9. The third chapter asks the question: if a corporation is a "legal person," then what kind of person is it?
    Mortal persons, persons who have no moral conscious. Designed by law to only be concerned with their stock holders. They are not like the rest of us. They have no soul to save or body to in-carsinate.
  10. What kind of personality does it have?
    They are greedy, how to make the most money, bottom line. Real people know they need to be viewed as constructive members of society.
  11. Does it have a moral conscience?
    They are required by law to place the financial interest of their owners above competing interests, legally bound to put its bottom line above everything else, even the public good. Legally they cannot have morals.
  12. What does the phrase, "socialization of costs," mean?
    Let someone else deal with that, I have all I can handle myself.
  13. 14th Amendment
    was created to protect newly freed slaves, corporations said that they were a person and the Supreme Court agreed with them. More cases were filed through corporations then through African Americans.
  14. Externality
    the effect of a transaction between two individuals on a third party that has not consented to or played any role in that transaction.
  15. How did Keynes and Hayek differ in their interpretations of the global economic collapse and the solutions they offered to it?
    • Keynes- helped defend freedom�felt that the market economy would go to excesses and the government would have to step in. Cambridge University, brilliant man, he made a fortune in the stock market, lost it all, and made it back again. Fascism started once capitalism started failing, his worst nightmare was coming true after the great depression. See the economy as a whole, macroeconomic inventor. He wrote against the background collapse of the global economy and against the potential collapse of democracy and the system of liberty. Had to find an answer before the world was swamped by totalitarianism. He published The General Theory on how to defeat the depression, most influential man of the age, �he gave people hope that unemployment could be cured without concentration camps.� Turn conventional government economic policies upside down.
    • Hayek thought government interference in the economy threatened freedom. Hayek thought that the markets would fix themselves. Served in the Austrian artillery, he experienced retreat and defeat. Saw the problems of political organizations. Saw inflation as an evil that corroded society and undermined democracy. Fight against inflation became a cornerstone to his philosophy.
  16. Whose views prevailed?
    Keynes started to be followed at the end of his life.
  17. Why did Mesopotamia (Iraq) suddenly become so important for oil exploration in the 1920s?
    Golbanking obsessed with the idea that it would produce oil. 1912 set up Turkish petroleum company � Golbanking became Mr. 5% of oil in Mesopotamia. Teagle would look anywhere for oil, including the Middle East, which was blocked my Mr. 5%.
  18. What was the As-Is Cartel designed to do?
    Because of the huge surplus that was just getting bigger so they froze market shares and set prices everywhere but the US (because of antitrust laws)� to control the price of oil, but there were so many competitors the market for oil could not be stabilized.
  19. What was the Red Line Agreement designed to do? Did they succeed?
    Mr. 5% said that anything found in the red line he drew on the map over the Middle East would be shared and he would get his 5%. The whole industry had started to change though.
  20. How did oil shape the causes and conduct of the Second World War?
    Had a critical impact on strategy and conduct, was central of the outcome. Hitler built the autobahn and put Germany back to work. Germany had no oil of its own. Country has no natural resources. Germany was making oil out of coal, won Nobel Prize for chemistry. Germany had to fight the war fast enough for resources not to come into play� got France, and she had a lot of oil. Oil is absolutely essential for a modern military.
  21. Friedrich von Hayek
    decided to do economics in Vienna. Once was a socialist of the small sorts, concerns of the poor would help determine government policy. Markets work, government doesn�t; free markets do it best, why fool with anything else.
  22. Walter Teagle and Coluscal Banking
    had a duel goal was to draw western government and companies into the Middle East with consequences for oil and the world that would extend to the present day. Recognized oil won the war� oil drove everything� peace found oil a supreme industry. Saw a crisis happening, inquire where the US would get future oil. Giant of a man who helped search for oil, first 20th century oil man. Chemist. Understood technology of modern oil. Oil was in his blood. Born to oil. Dominated Standard Oil, people referred to him as The Boss.
  23. As-Is Cartel
    froze market shares and set prices everywhere but the US (because of antitrust laws)
  24. Red Line Agreement
    Mr. 5% said that anything found in the red line he drew on the map over the Middle East would be shared and he would get his 5%.
  25. Black Giant
    Big oil fields had been discovered before but nothing to compare to east Texas, the Saudi Arabia of the US, could have supplied half of the total oil consumption of the US at one point� so big so unusual, known as the Black Giant� discovered by these characters not big oil tycoons.
  26. I.G. Farben
    During the planning of the invasion of Czechoslovakia and Poland, IG Farben cooperated closely with Nazi officials and directed which chemical plants should be secured and delivered to IG Farben. It was a German chemical industry conglomerate.
  27. How did Truman obtain the money for assistance to Greece and Turkey?
    He convinced a republican (penny pinched) congress that the conflict threatened the US. He gave a scary speech to scare that money out of them.
  28. What was really at stake in the Eastern Mediterranean? (Truman, Chap 21)
    Greece communist threaten to topple the monarchy, it Turkey the soviet union was demanding control of the Strategic Dardenel Straights. Two local problems were becoming a catalyst for a worldwide struggle against communists.
  29. What was the Truman Doctrine?
    He convinced congress to get the 400 million for Turkey and Greece, political and military end of help.
  30. Why did this raise concerns and fears among some people in the Truman Administration? (Truman, Chap 21)
    Said that communism was coming, that if we didn�t stop it now, the US would be standing alone surrounded by communist, scared them to get money, made the Administration more and more alarmist.
  31. What was the greatest threat to Western Europe in the immediate postwar period?
    Starvation, chaos, and the fear of movement to the left, coldest winter in memory... not worried about the red.
  32. How were the Truman Doctrine and the Marshall Plan, in Harry Truman�s words, �two halves of the same walnut�? (Truman, Chap 22)
    Truman doctrine was the political and military commitment; the Marshall Plan was the 13 billion dollar economic commitment.
  33. How did Truman present the Communist menace?
    There were thought to be communists in the white house, Truman was forced into doing something about it� He decided to make all public workers� political beliefs as public information.
  34. How did he get Americans to commit themselves to the Cold War, to supporting American international leadership?
    He created the department of defense, the CIA, the Security Council, peace time spying, NATO first peacetime alliance. Truman defined the cold war as a war against the slaved and the free people.
  35. What were the domestic ramifications? (Truman, Chap 22)
    Exaggerated the communist menace, a crusade against communist totalitarianism, you don�t break up your crusade�
  36. Bretton Woods (Commanding Heights)
    The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states.
  37. Road to Serfdom (Commanding Heights)
    Hyacke attached Keyens sarcastically dedicated to socialist of all parties. Too much government planning means too much government power; too much power destroys freedom and makes men slaves. To Hyake, planning was the first step to a totalitarian state.
  38. Dean Acheson (Truman, Chap 21)
    �Top brain man� (in the cabinet)�Truman. He figured out how to get the money from Congress for Greece and Turkey. He made a speech about how the Russians would sweep across Europe, if they get Europe they will eventually get everyone, and the US would be standing alone. �You�re going to have to scare the hell out of the American people�
  39. George Marshall (Truman, Chap 22)
    The secretary of state that commanded the respect of the entire country, Truman said congress will do anything Marshall wants. He named the plan after Marshall so it would not be questioned.
Card Set
note cards for intb.txt