Business Ethics and Ethical Business
The Role of Business in a Free Democracy
- Free democracy is important for businesses to run. A free democracy implies two things 1.
Liberty is protected and 2. A democracy in which everyone gets a free vote
- There will be freedom… but how much freedom?
- There will be inequality… but how much inequality?
- Usually the wealthiest people are those with 1) Special Skills or 2) Good Fortune
- Favor freedom or favor equality?
- The two democratic traditions
Declaration of Independence -->> life, liberty and the pursuit of happiness
John Lock-->> life, liberty and property
You need property rights and a free democracy to be happy
Property is something owned, you can use it, give it or own it.
Property rights with legal values are important for economic freedom
Capitalism is built off of social system where free trade is protected
“ What we own we trade, what we legally own, we legally trade”
Capitalism is the opposite of socialism
Socialism little private property, everything is owned and distributed by the
Joke: The difference between capitalism, socialism, and totalitarian communism
Totalitarism – Government takes the cows and shoots you
Socialism – Government takes the cows and lets you milk them
Capitalism – You have two cows, and you sell one for a bull
John Lock’s Lockean View
Tradition of English Liberty
Liberty = the right to become UNEQUAL in wealth, political influence,
and cultural influence… Since each person votes, each person gets a fair
Property rights are essential for a just and fair society. In John Lock’s
theory of property acccuisition, he noted that the wealthiest in America,
are those who acquired unowned land ( unsettled America), mixed it
with labor i.e. farming, and then eventually passed it through
generations and generations to get money. This is why people who come to the country late, have to labour for others at whatever they
Locke believes the government’s job is to use laws and contracts to
protect property not to restrict the economy, or free trade, but to make
sure there is no theft or invasion.
Free democracy would be like taxes where government takes money