PHI 2397 Lecture Notes - Lecture 3: No Authority, Fiduciary

• School: University of Ottawa
• Department: Philosophy
• Course: PHI 2397
• Professor: Hilliard Aronovitch

Document Summary

Text: stone, (cid:862)why hould(cid:374)"t corporations be respo(cid:374)si(cid:271)le? (cid:863), pp. 4 types of arguments why dire(cid:272)tors/ceo"s are simply the agents of the principals and their motives are to strictly maximize profits. Sept. 14th 2017-09-11: 1st-the promissory argument, he takes the idea of a promise literally, simply maximizing profits, taking your money and the sole responsibility is to maximize profits. It is not the same as ceo" s promise/obligation to their shareholders and business owners. The whole point is the philosophical distinctions matter. There is no physical promise to fulfill that specifically and solely. There is no such thing as a real promise. Gives examples where it is morally justified where this (cid:862)pro(cid:373)ise(cid:863) does(cid:374)"t hold true or just. Ceo"s have a lot of power in selecting who is going to be on the board. They have a lot of power as to who they are supposed to be representing in the first place.