PHILOS 2N03 Lecture 2: Week 2 Lecture - September 11, 2018
20 Sep 2018
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Document Summary
Views of economic theory, and what of it that makes a good business decision. Returning to last week: types of good/ethical business decision. Minimal standard: (cid:862)do (cid:374)o wro(cid:374)g(cid:863) (cid:374)ot doi(cid:374)g a(cid:374)(cid:455)thi(cid:374)g that is e(cid:454)pressed as for(cid:271)idde(cid:374) or bad. Those that endorse this standard, allows for argument if the business is practicing ethically, we look at them not breaking any laws or any social norms. Ideal standards: (cid:862)ai(cid:373)i(cid:374)g for so(cid:373)ethi(cid:374)g higher(cid:863) for e(cid:454)a(cid:373)ple, good pr, thi(cid:374)gs that surpass the minimal standard that achieve something greater that is a more idealized standard. Relative standard: the context dictates everything, nothing ever counts as universally ethical. Consequentialist form of ethics: focusing on the aims of the action, whatever the business does it should always focus on the end; the profit. We can never be sure about what will happen in the future. When looking in the past we can never know if we had done something else, what outcome may have happened.
