PHIL 329 Lecture Notes - Lecture 10: Coumarin, Jeffrey Wigand

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Recall - friedman: corporate managers" only duty is promote the interests of shareholders and make them money, they have no duty to anyone else. Friedman and carr"s response: distinguish the roles of corporate managers and lawmakers - lawmakers are experts at protecting interests of stakeholder groups, they establish laws and regulations that protect stakeholder groups from harm. The corporate managers have a duty to respect these laws while focusing on their duty to promote interests of shareholders. Consider the cases where there are gaps in the law: cases where the laws presently don"t protect certain individuals from being harmed or being put in harm"s way by the acts of corporate managers. Examples of cases where there are gaps in the law. Key makers sell master keys to cars, and they know some of the customers are car thieves. Key makers are, therefore, facilitating the ability of car thieves to steal cars.

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