PHI-10 Lecture Notes - Lecture 28: Fiduciary, Business Ethics, Logical Form
Document Summary
Conclusion: there are some moral rules all societies will have in common. Objectivists must tell us what kind of facts the moral facts are. (i) facts we recognize as real (ii) clearly. So, there seem to be at least important obligations: to owners / shareholders of the firm, to other with direct interests (customers, employees, ect, broader obligations to humanity / society at large. Goodpaster tries to offer a theory that makes sense of these different obligations. Shareholder: any owner of the firm, entitled to share of gains / losses. To engage in shareholder thinking is to consider the interests of the shareholder. Stakeholders: any party whose interests are affected by the firm"s decisions. To engage in stakeholder thinking is to consider the interests of this large group. The duty of managers to put the interests of the firm ahead of their own. [fiduciary duty is closely aligned with shareholder thinking, protecting their interests. ]
