Philosophy 2074F/G Lecture Notes - Business Ethics, Amartya Sen, Categorical Imperative

• School: Western University
• Department: Philosophy
• Course: Philosophy 2074F/G
• Professor: Dean Proessel

Document Summary

All human beings always motivated by self interest. Altruists: people who put others ahead of them self. Not what business s are doing but what they should be doing. Self interest in adam smith"s wealth of nations. Limited to care to only gain someone else s business. Absolutely not: smith s point concerning the motivation of exchange does not establish anything about the redundancy of business ethics. Smith was preoccupied with two problems: laws of the market, harmony and prosperity of society: welfare of the consumer. Free market competition and social utility: invisible hand -> free market competition, ones self interest in the market place can only be satisfied through exchange where intent is required. This intent is linked back to one s own self interest. With this self interest, we all participates and contributes in social utility as we better society by providing business. The invisible hand (aka free market competition) helps lead to social utility.