ACTG 2010 Lecture Notes - Lecture 5: Ethical Egoism, Psychological Egoism, Egotism
12 Jul 2016
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Moral issues in business: chapter 2 normative theories of ethics. Chapter discusses normative perspectives and rival ethical principles that are our heritage. Normative theories propose some principle or principles for distinguishing right actions from wrong actions: there theories are divided into consequentialist and nonconsequentialist. Two most important consequentialist theories are egoism and utilitarianism. Egoism advocated individual self-interest as its guiding principle. Utilitarianism holds that one must take into account everyone affected by the action. Nonconsequentialist (or deontological) theories contend that right and wrong are determined by more than the likely consequences of an action. These theorists do not necessarily deny that consequences are morally significant, but they believe that other factors are also relevant to the moral assessment of an action. The view that equates morality with self-interest is egoism. Contends that an act is morally right if and only if it best promotes the agent"s own long- term interests ( agent can be a single person or an organization)
