--%>

How Social Darwinism support business

What is Social Darwinism and how it was utilized to support business?

E

Expert

Verified

The philosophy of Herbert Spencer which is replica of the theory of biological evolution of human society by Charles Darwin is known as Social Darwinism. According to social Darwinism, as in the world of plants and animals, where species compete and such best adapted survive, the fittest people rise to the top in the social competition for riches. Social Darwinism justified callous business practices and underhanded techniques; they were “natural”. Andrew Carnegie, an outspoken social Darwinists was very selective in applying “the law of the jungle”. He appealed to it whenever the government threatened to regulate the business practices. But he had no objections to unfair competitive advantages that enriched them like high protective tariffs.

   Related Questions in Financial Accounting

  • Q : Drawback of Electronic Funds Transfer

    What are the drawback of Electronic Funds Transfer?

  • Q : Imports and exports of U.S Give some

    Give some remark over the given statement: “As imports of the U.S. is more than its exports, it is essential for U.S. to import the capital from foreign countries in order to finance its current account deficits.”

  • Q : Computing the credit rating List some

    List some of the factors does Standard & Poor’s analyzes in computing the credit rating it assigns a sovereign government?

  • Q : International portfolio for buying

    Why it is easier for an investor willing to diversify his portfolio internationally for buying depository receipts instead of actual shares of the company?

  • Q : Determining interest rate parity

    Presently, spot exchange rate is $1.50/£ and three-month forward exchange rate is $1.52/£. Three-month interest rate is 8.0% per annum within the U.S. and 5.8% per annum within the U.K. Suppose that you can borrow as much as $1,500,000 or £1,000,000.

  • Q : Accouning Required parts are clearly

    Required parts are clearly describes at the end of the questions and additional resource contains the journal article related to question three.. Approx 2000 word assignment.. First Question is of not more than 1000 words to make memorandum and its example is given at end of assignment and require

  • Q : Foreign entity’s functional and parent

    Specify some of instances under FASB 52 that foreign entity’s functional currency would be same as the parent firm’s currency.

  • Q : Matlab Applications in Digital Signal

    Digital signal processing appears like a nightmare for students as it is most difficult and tricky subject in engineering core curriculum. If you are getting troubles in digital signal processing assignment or related project, then move

  • Q : REDUMPTION OF DEBENTURS WHAT IS

    WHAT IS REDUMPTION? AND WHAT ARE THE CONDITIONS?

  • Q : Internalization theory of FDI Explain

    Explain internalization theory of the FDI. Specify the strength and weakness of this theory?