BUS 2000 Lecture Notes - Lecture 3: Normative Ethics, Relativism
Document Summary
Ethical theories are the rules and principles that determine right and wrong for any given situation. Normative ethical theories are those that propose to prescribe the morally correct way of acting. Descriptive ethical theories seek to describe how ethics decisions are actually made in business. Ethical absolutism - claims there are eternal, universally applicable moral principles. Right and wrong are objective qualities, can be rationally determined. Ethical relativism - claims morality is context-dependent and subjective. No universal right and wrongs that can be rationally determined; depends on person making the decision and culture in which they are located. Ethical pluralism accepts different moral convictions and backgrounds, while at the same time suggesting that a consensus on basic principles and rules can and should be reached. Differences between anglo-american and european approaches based on philosophical arguments. Europe towards wider economic and governing institutions. Us tend to accept the capitalist framework. Europe tend to question the ethical justification of capitalism.
