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PHL295H1 (22)
Lecture

lecture note

5 Pages
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Department
Philosophy
Course Code
PHL295H1
Professor
Don Waterfall

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PHL295
Jan 27, 2010
-sole responsibility to increase shareholders income --> a bit _____
-what if killing someone brought in a lot of profit??
-a business cannot literally have responsibilities b.c. it's not an actual person
-to say a business/company has responsibilities is reallys aying its members has them
-is at most a legal person-- imputing responsibilities to natural persons who make it up
-civil law
1. the executive is the agent of the shareholders...
2.if exec engages in some act of charity or other activity.. they're spending shareholders'
money.. not his own
-not authorized to spend corporate money if not for company expenses
3.if you spend money on socially desirable things...
-government not business
- the exec that makes this decision is taxing w/out authority
-civil servant
-counterexample: suppose that a private person makes contribution to some social need,
does it make them a civil servant? obvs not. then why make corporate exec into civil
servant??
4. what contributions to society should be made??
-government are the ones with knowledege regarding public welfare
www.notesolution.com
-exec is stepping outside of skill set
-i.e. lowering prices to avoid inflation... if done by only one company... it would/could
completely no affect at all..
5. spending money on public good is ____ ... socialism
Friedman treats social responsibilities as types of charity..benevolence
-comapny does not have benevolence of this sort... they exist to make profit for
sharehodlers... self-interest group
-company is not wrong even if they don't contribute to a piublic good of some kind
-a contribution to charity is justified only if it contributes good to the corporation overal
-a duty of benevolence is acalled an imperfect duty
-if a business process causes harm to people, then its wrong
-these are morally binding not descretionaries
-in the case of knowledge, while the point that private companies are not required to have
that the government are suppose to have... they still have it requiste to avoid harm..
-perfect and imperfect duty = big difference
-Audi --> positive and negative duty
-some duties that are not positive are also not negative..
-ethical custom -- a society conventional morality
--> usually contain the normal duties
-laws and conventional morality could be bad..
www.notesolution.com

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Description
PHL295 Jan 27, 2010 -sole responsibility to increase shareholders income --> a bit _____ -what if killing someone brought in a lot of profit?? -a business cannot literally have responsibilities b.c. its not an actual person -to say a businesscompany has responsibilities is reallys aying its members has them -is at most a legal person-- imputing responsibilities to natural persons who make it up -civil law 1. the executive is the agent of the shareholders... 2.if exec engages in some act of charity or other activity.. theyre spending shareholders money.. not his own -not authorized to spend corporate money if not for company expenses 3.if you spend money on socially desirable things... -government not business - the exec that makes this decision is taxing wout authority -civil servant -counterexample: suppose that a private person makes contribution to some social need, does it make them a civil servant? obvs not. then why make corporate exec into civil servant?? 4. what contributions to society should be made?? -government are the ones with knowledege regarding public welfare www.notesolution.com
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