MGMT 1040 Study Guide - Cardinal Utility, Moral Skepticism, Act Utilitarianism

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13 Apr 2012
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MGMT 1040
Thursday, November 10, 2011
Bill Woof
Ethical Theories:
EGOISM
Consequentialism/Utilitarianism
Kant
“looking out for number one”
“greatest good for greatest
number”
“duty for the sake of duty”
20th Century
19th Century
18th Century
Teleogical
Teleological
Deontological: evaluate each
individual for their own merit.
A posteriori (empirical)
A posteriori (empirical)
A priori (metaphysical)
Goodness (cost benefit
analysis)
Goodness (cost benefit analysis)
Right action
Cause & effect
Cause & effect
Rationalism
Instrumental values
Instrumental values
Intrinsic values
Self maximizing agents
‘me’
Group Utility focus on ‘we’
Autonomous agents & all
humanity
Interests = duties
Goodness = interests
Interests ≠duty
Proactionary principle: (free
market theory)
- permit the maximum
amount of innovation
- burden of proof on the
sceptics. Ex. if a scientist
thinks a product is dangerous,
he must prove his thinking
now.
Proactionary & precaution
Precautionary principle: Keynesian
mindset. It is used in a situation of
uncertainty. Ex. GMFs altering
genetical structures of basic foods,
but is it safe to eat them? (not
enough testing has been done)
- it stops innovations when we are
uncertain of the benefits/harms
- imposes a burden of proof on
manufacturers (ex. blaming
manufactures for GMFs)
- stops at point of uncertainty
(right action approach)
Act Utilitarianism vs. Rule
Utilitarianism (intrinsic value of
rule)
- the rule is means to the end
Maxims
Agent neutral vs. Agent relative
issues
Hypothetical imperatives
Cardinal vs. Ordinal utility
- ordinal utility determining
utility based on order/ranking
- cardinal utility determining
utility in terms of how much # 1 is
better than # 2 and so on
Ex. katy perry’s song was rated 5x
higher than Britney spears.
Categorical imperatives
3 formulations:
1. Logical
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