Business Ethics

  1. “Error is easy and correctness hard; since it is easy to miss the
    target and hard to hit it… we are noble in only one way, but bad in all sorts of ways.”
    Aristotle = Not everything has a mean (cheating)
  2. "... in the case of what is to be morally good, that it conforms to the moral law is not enough; it must also be done for the sake of the moral law. otherwise that conformity is only very contingent and uncertain."
    Kant deontology. Only trust REASON.. Rational nature exists and ends in itself.
  3. " love as an inclination cannot be commanded; but beneficence, is practical, and not pathological love. Such love resides in the will"
    Kants 1st proposition= Acts must be done for the sense of Duty and not Moral worth.
  4. "If we weighed up everything from one and the same standpoint, namely, that of reason we would find a contradiction i our own will, viz., that a certain principle by objectively necessary as a universal law and yet subjectively not hold universally."
    • Kants categorical imperative
    • Hypothetical (conditional) vs. Categorical (inconditional)

    IMPERATIVES- GOD should = would

    Fo us the ought should imply can!
  5. "act only according to the maxim whereby you can at the same time ill that it should be a universal law"
    KANT 1st proposition

    • -Examples
    • 1. suicide
    • 2. promise $
    • 3. talent wasted
    • 4. ungracious man

    Imperfect: can be done, but can't be willed
  6. "act in such way that you treat humanity, whether in your own person or in the person of another, always at the same time as an end and never simply as a means."
    KANT 2nd Proposition

    Humanity as an end itself
  7. " i should never act except in such a way that i can also will that my maxim should become a universal law"
    KANT 3rd formulation ( I am legislator of law)

    Lying " i can indeed will the lie but can not at all will a universal law to lie. For by such a law there would really be no promises at all... my maxim would be necessarily destroy itself just as soon as it was made by universal law."

    " every other motive must give way because duty is the condition of a will good in itself, whose worth is above all else."
  8. " a rational being must always regard himself as legislator in a kingdom of ends rendered possible by freedom of the will whether as member of sovereign."
    KANT 4th formulation

    everything either has a price or dignity (intrinsic worth)

    Autonomy is the ground of the dignity of human nature and of every rational nature.
  9. " the creed which accepts as the foundation of moral, Utility, or the Greatest happiness principle (happiness for the greatest number), holds that actions are right in proportion as they tend to promote happiness, wrong as they tend to produce the reverse of happiness. By happiness is intended pleasure, and the absence of pain; by unhappiness, pain, and the privation of pleasure."
    MILL the Utilitarianism Principle

    Schools educate you.. get more money.. buy stuff.. well being.. happiness
  10. "Pushpin is as good as poety"
    Benthan: Utitlitarian

    Hedonic calculous

    What ever makes you happy
  11. " there is known Epicurean theory of life which does not assign to the pleasure of intellect of the feeling and imagination and the moral sentiments, a much higher value as pleasure than those of mere sensation."

    High pleasures vs. Low pleasures
  12. Prevent unhappiness by ridding self of desires (avoid pain)
    Stoicism = train self to be satisfied
  13. "Money is the universal, self-constituted value of all things. Money is alienated essence of mans Labour and life, and this alien essence dominates him as he worships it"
    MARX- capitalists exploit the worker --> pay workers less --> make more $
  14. when it (free market) describes the relationship between wage-labor and the profit of capital, its fundamental point of departure is the interest of the capitalist, that is, it accepts as given what it should be explaining. In the same way competition is used to explain everything. The only wheel which political economy sets in motion and greed and the war between greedy: compitition
    MARX critique on Free Market
  15. It is not from the benevolence of the butcher, the brewer or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages."
    Adam Smith on free market
  16. "By directing industry in such a manner as it produce may be the greatest value he intends only his own gain, and he is in this as in many other case, led by an invisible hand to promote an end that was not part of his intention"
    Adam Smith on free market and the Invisible hand
  17. " The statesman who should attempt to direct private people in what manor they ought to employ their capital s would not only load himself with the most unnecessary attention, but assume an authority which could safely be trusted, no only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as i the hands of a man who had folly and presumption enoug to fancy himself fit to exercise it."
    Adam smith on invisible hand
  18. There is common property God gave all and that property becomes ours when we consume it or mix our labor with it.

    Nature+ labor= private
  19. "In former days there was little difference between the dwelling, dress, food and
    environment of the chief and those of his retainer"
    Carnagie on Disparity problem
  20. "much better this is great irregularity than universal squalor"
    Carnagie on argument for wealth and disparity.
  21. "In bestowing charity, the main consideration should be to help those who will help themselves; to provide part of the means by which those who desire to improve may do so: to give those who desire to rise the aids by which they may rise"
    Carnagie on Charity and philanthropy ie give to school or library.
  22. " thus is the problem of Rich and Poor to be Solved. the laws of accumulation will be left free; the laws of distribution free. individualism will continue, but the millionaire will be but a trustee for the poor entrusted for a season with a great part of the increased wealth of the community, but administrating it for the community far better than it could have done for itself.
    Carnagie on a solution
  23. "fundamental shifts i technology and in the economic landscape are rapidly making current system of intellectual property rights unworkable and ineffective."
    Thurow on Property rights
  24. "Tweaking they system won't do it. Some new ways of thinking about intellectual property rights will be necessary."
    Thurow on property rights
  25. "what different countries need, want, and should have in a system of intellectual property rights is very different, depending on their level of economic development."
    Thurow on property rights
  26. "The purpose of business is to make more money, and increase stockholder value"
  27. "Business should make money, but it has many stakeholders--groups/individuals who have a stake in what the business does. Owners are not the only one's with stake."
Card Set
Business Ethics