business society ethics midterm

argument

set of statements with premises that serve as reasons to believe truth of conclusion

set of statements with premise + conclusion

deductive

use of logical reasoning from one thing to the next to arrive at the conclusion

-general premise to specific conclusion

deductively valid

when premises are true then conclusion cannot be false

-info from premise contain in conclusion, no new info

-conclusion "falls out of the premises"

-sound(truthfulness) + valid(form)

NOT deductively valid

new information in conclusion, NOT already contained in premises

-conclusion NOT forced from premises

valid vs strong vs weak argument

valid: undeniable reason to believe conclusion

strong: good reason to believe conclusion (inductive)

weak: little reason to believe conclusion (inductive)

Validity

tests FORM --\> if premises follow each other

Sound

tests TRUTHFULNESS --\> if all premises are true

sound ONLY when valid + true all premises

deductively valid argument example \#1

All dogs are mammals. Chuck is a dog. Chuck is also a mammal.

deductively valid argument example \#2

No human can live forever. I am a human. I can't live forever.

Teleological

there is an end, a goal, purpose to bring about

-i.e. pleasure, goodness, benefits

Ethical Universalism

Good for the moral universe

everyone ought to be treated equal and impartial

Universalism (Bentham)

The goal is to maximize happiness and pleasure.

-QUANTITY over quality

-act in a way to promote the most happiness or prevent the most pain

-consequences matter

Universalism (Mill)

actions are right when they promote happiness, wrong when they promote pain

-higher vs lower pleasure

-QUALITY over quantity

Ethical Egoism

good for myself

-morally right if and only if promotes my best interest

-self-interest is guiding principle for morality

Psychological Egoism

people are selfish by nature --\> people must behave selfishly

motive for all our actions is self-interest

Deontology

We have duties / obligatoins --\> we ought to do our moral duty

-our nature and rules

How do we know what our duty is? Kant + Ross

Intuition and nature is what decides our duty

How do we know what our duty is? Satre

We decide what our duty is

Kant: Deontology

always tell the truth and keep your promise (absolute)

-act from duty (NOT emotions) \= moral worth

Categorical Imperative(who and what?)

Kant

-you ought to do it

-act in a way the maxim of our actions can be a universal law

-treat people as ENDS, NOT means

Maxim

principle or rule we act upon

-why we're moved to act

-no self interest in decision/moral behavior

Goodwill

Kant

good within itself

goodness without qualification

Ross deontology

moral obligations can be override by a more important obligation (NOT absolute)

Duties:

-Fidelity(keep promises)

-Reparation(correct previous wrongs)

-Beneficence(do good to others)

-Justice

-Gratitude

Agapism & Agape

our duty is to love

-we ought to do the loving thing

Agape: love is the best of one another (mutually beneficial)

Divine command theory

god gives us purpose --\> what's moral vs immoral is commanded by god

Natural Law Theory

god gives us freewill to do what he would want us to do

-deep human nature about what we're supposed to do

-god is good , he made us --\> we must be good, our duty is to be good

Jean Paul Satre

Existentialism: we choose what our duty is

-Following moral duties mean we're not being our true self or nature behave inauthentically

-existence precedes essence: we first exist then decide what's right and wrong (NO god)

Capitalism

economic system operating on basis of profit and market exchange in which major means of production/distribution are in private hands

capitalism key features (4)

1. companies exist --\> seperate from people associated w/ them

2.) profit motive; make decisions that maxmize profit --\> reflects human nature on how we're economic creatures motivated by our own economic self interest

3) competition; keeps community activated only by self interest from degenerating into mob of ruthless profiteers

4.) private property: control economic assets, productive resources

Laissez Faire

to let people do as they choose, free to pursue their own interest

-government should play as small a role as possible in economic affair

Socialism

A system where the government owns and controls means of production

-economic system with public ownership of property and a planned economy

goods NOT own by individual(capitalism), rather PUBLIC bodies

worker control socialism

Hybrid system: individual firms respond to a market when acquiring the necessary factors for production. Workforce controls and divide profits accrue to workers

Mercantile Capitalism

based on mutual dependence between state and commercial interests

economic health of nations determined by metals, gold, and silver they pose

industrial capitalism

use profits for expansion, importance of competition, benefits of open markets of trade

Finance Capitalism

strengthen finance shore up assets

pools, trusts, holding companies, banking, insurance

state wellfare capitalism

government plays active role in economy; fiscal and monetary policies + social security / unemployment insurance to enhance welfare of workforce

Globalized Capitalism

technological advances increasing integration between countries

\=international trade and integrated national economies.

Arguments FOR capitalism

1. Natural rights to property

2. Adam Smith's "Invisible Hand": when people are left free to pursue their own economic interests, they will, without intending it, produce the greatest good for all

Laissez-faire approach

Criticism AGAINST capitalism

-Produces inequality and poverty. Challenges capitalism "fairness" and claim to advance interest of all Inequality· Wrongly assumes humans are rational economic creatures + government interference with market causes these problems

-Wrongly assumes humans are rational economic creatures + government interference with market causes these problems

-Makes oligopolies: concentration of property and resources, economic power in hands of a few

-Corporate welfare: government support or subsidiaries of private business, such as tax incentives

-Assist business resulting in protection from competition

-Competition is not a good thing, cooperation is better and leads to better individual + group performance

steven singer belief

USA does not have anything that is absolute poverty, only relative property; our standards are much above compared to other countries

Alienation

humans are reduced to the level of an animal, working only for the purpose of producing under the compulsion of direct physical need

Corporation

legal entities with multiple owners where company share ownership with limited liability

limited liablity

shareholders not responsible for damages done from corporations, liable of only amount invested in company

Why should corporations be considered moral agents

corporations enjoy same moral and political rights as citizens, --\> they should bear same responsibilities that individual human beings do. --\> be held morally responsible for their actions