FIN 800 Lecture Notes - Lecture 3: Government Debt, Immanuel Kant, Invisible Hand
Document Summary
Fairness important ethical principle but there are more like contributions to welfare, equality, or liberty. Evaluate markets and businesses through its productivity or efficiency: ex. Appeal to efficiency provides a valuable reminder that the legal and regulatory framework of bank lending should provide the conditions for productivity. But the value of this analysis doesn"t look at the moral concerns. Moral evaluation examines commercial practices like their foundational principles or operations and interactions that arise once the principles are set in place. In terms of fairness forced to consider the foundation framework of markets, rules and regulations of ongoing exchanges the practices of business firms or the conduct of professionals and clients. Fairness and business don"t mix an assumption of theoretical models profit maximization: doesn"t define the motives of an actual businessman, doesn"t signify any description of the processes of commercial competition o.
