Lecture 1 Jan 7,10

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Published on 10 Aug 2010
Week 1
Neoclassical approach ± whatever law and the market allow is ethic
- but business lobby, raise campaign funds, they find ways to cheat the law. Therefore, the law is heavily
influenced by businesses
- we are assuming that there is no advertising
The Corporate Social Responsibility
- ³being ethical heads off the law´
-³(WKLFV SD\ -John
Æ instead of looking at how you are paid now, look at how you will be paid in the future, if you keep
being ethical
- the neoclassical approach had the right idea but wrong timeframe?
- ask yourself, if you are engaging in the practice, is it likely, the one day, the law will prevent you from
Æ in theory its good. But LW¶V almost impossible to apply
Ex. Ford made cars with seatbelts and no one bought them til 20 yrs later (takes way too long)
Business Ethics
1) ethical is not always the same thing as heading off the law or doing what the market will rewards in the
long run b/c the long run is too far away (not visible, LW¶V very subjective criteria, things could change)
2) ³7R be ethical to be a business, because it may increase your profit. Then it is for the wrong reasons. A
company must be ethical, because they want to be ethical
Dirty hands ± regardless of what you do, something is wrong. Lose-lose situation
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