Week 3 notes of Ethics
Week 3 notes of Ethics PHI 1120, Professional Ethics
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This 2 page Class Notes was uploaded by Neha Bhagirath on Tuesday May 31, 2016. The Class Notes belongs to PHI 1120, Professional Ethics at Wayne State University taught by Dr. Travis Figg in Spring 2016. Since its upload, it has received 7 views. For similar materials see Professional Ethics in PHIL-Philosophy at Wayne State University.
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Date Created: 05/31/16
Day 5 Friedmancorporations ought to seek profit Taxation Stealing Arrow says that Profit represents social approval and businesses/corporations pay the costs when they do ill Concept in economics called “Pareto Efficiency,” which Arrow mentions. It is when there is no way to redistribute wealth to make someone better off and no one worse off (this means that like the cake analogy the cake analogy and if someone wants the cake but you don’t, then they are both better off that is NOT pareto efficient. But if someone wants the cake now, and you want it too, then it would be pareto efficient to give it away) given certain assumptions, a free market system will create pareto efficiency. (assumptions: you have rigorous competition, and rational agents, full informance.) A pareto efficient system can be unequal in distribution, (ex. One can be very rich and one very poor), as long as the case is that if the person who is more rich, if they give up money they’ll be worse off Orlando Purpose of corporations is to make profit. Investors are owners and invest to make profit Property for use and property for profit (as long as you are not hurting anyone else, you can do what you want with your property, unless (Friedman thinks this is the exception) if you are using it to make money. For example, if you have apartments rented and there are people living there, and some people move in and are willing to pay more. Would it be wrong to kick out the old tenants to make money? But you own the complex right? But that is why Friedman says you cannot use it to make money) It seems that it is unacceptable to have someone do for YOU what it is unacceptable for you to do yourself. Day 6 Duties: to self, employers/clients/society Bok, Davisthink that whistleblowing is violation of company loyalty Duska he says that you don’t owe loyalty to companies/corporations because they aren’t looking out for your interests, so whistleblowing would not be a violation. The kinds of groups you can owe loyalty to are the kinds that look out for each other (friends, a club, religious groups) Degeorge: When whistleblowing is permissible: the business will do harm, when you have reported the issue to supervisor, problem is not fixed, when you exhaust internal means of fixing problem When is is required: you have evidence that would convince a reasonable, impartial bystander, and you have good reason to believe that Whistleblowing will prevent the harm, then you are required to blow the whistle Davis: tries to make a theory of whistleblowing to avoid the problems 1)paradox of burden 2)paradox of harm 3)paradox of failure Supererogatory above and beyond normal obligation 1)what you will reveal derives from your own work in the org 2)you are a voluntary member of the org 3)you believe the org, though legitimate, is engaged in serious wrongdoing 4)you believe your work will contribute to the wrongdoing if you do not whistleblow 5)you are justified believing 3 and 4 6)3 and 4 are true Do you owe (prima facie) loyalty to the government? If so, why? Government does not equal the people, government represents the people and enshrines society’s values and protects social good through law Society based mutual benefit