ACC 333 Large Lecture Midterm

Ethics

well-founded standards of right and wrong that prescribe what humans ought to do, usually expressed in terms of rights, obligations, benefits to society, fairness, or specific virtues.

What do traditional economic and business models assume?

Humans act as rational and competent actors operating under defined assumptions of Economic Models, Agency Theory, Critical Thinking vs. Dogma, and Knowledge Systems

What are some Economic Models?

Supply/demand curves, market efficiency, utility maximization, and risk/reward trade-offs

Agency Theory

Principals which delegate authority to agents, assuming rational self-interest drives both parties

Dogma

principles laid down by an authority as incontrovertibly true, alternative perspectives cannot be entertained if these principles are accepted

What does Ethics replace Dogma with?

Replaces Dogma with a need for intense critical thinking

What are the 7 Ethical Philosophies?

Relative/Subjective, Consequential (Egoism, Utilitarianism), Categorical/Dentological (Kant), Freedom (Libertarianism), Equality (John Rawls), Virtue Ethics (Aristotle), and Economic Systems (Capitalism, Socialism)

What are some Knowledge Systems?

Researchers, Synthesizers, Disseminators, and Evaluators

Researchers

Specialized, prone to initial error

Synthesizers

Organizers, prone to missing facts

Dissemenators

Media/public, subject to Gell-Mann Amnesia Effect)

Evaluators

Policy decsion-makers

Representative Heuristic

Judging Probability by Similarity

Cultural Reletivism

ethical decisions are strictly determined by cultural, social, or professional norms, and that no objective universal moral truth exists (defined by culture and time)

What are some typical conflicts under GVV?

• Truth vs. Loyalty

• Individual vs. Community

• Short-term vs. Long-term

• Etc.

What are the 7 GVV Pillars?

Values, Choice, Normalization, Purpose, Self-Knowledge & Alignment, Voice, Reasons & Rationalization,

Shared Values

1st GVV Pillar, certain core values are globally recognized across professions and cultures: honesty, respect, responsibility, fairness, and compassion.

Choice

2nd GVV Pillar, believing you have a choice in ethical dilemmas is essential. Choosing not to act is itself an active choice

Ethical Egoism

normative theory asserting that each person ought to pursue their own self-interest exclusively. Other people matter only insofar as they benefit oneself

Psychological Egoism

descriptive claim that humans always act out of self-interest

Utilitarianism

actions are morally right if they maximize overall net happiness or utility for the greatest number of people

Altruism

Belief or practice of selfless concern for the well-being of others

What are some arguments against Ethical Egoism?

It endorses wickedness, is logically inconsistent, and is unacceptably arbitrary

What is Happiness measured by:

Utility

What 2 components is Utility comprised of?

Whatever produces PLEASURE and Whatever Prevents PAIN

Who created the Pleasure/Pain (p/p) calculation?

Jeremy Bentham

What is another name for the p/p calculation?

Hedonic Calculus

What factors is the p/p calculation based on?

Intensity, Duration, Certainty, Propinquity, Fecundity, Purity, and Extent

What are the 3 objections to Utilitarianism?

• Individuals matter but only to the extent that preferences are tallied along with everyone else’s
  No Common Currency of Value (ex: benefits of smoking, pain for pay, etc)

• Procedural Problems

John Stuart Mill

Recast Utilitarianism as a more human, less calculated doctrine

What are John Stuart Mill’s 2 main objections to Utilitarianism?

No qualitative distinctions between higher/lower pleasures and that individual rights were being overlooked along with virtue and the motives behind actions (Individual Rights - “On Liberty”)

What is the IRAC method when it comes to doing essays and case analyses?

Issue (define legal/ethical dilemma), Relevant Law (apply Kant, Utilitarianism, Rawls, etc.), Application (apply framework to facts), and Conclusion

Normalization

3rd GVV Pillar, Ethical conflicts are a normal, predictable part of business life—not rare aberrations

Purpose

4th GVV Pillar, explicitly define your personal and professional purpose before conflicts arise, know what you want out of situations

Deontology

Study of the nature of duty and obligation (Universal Human Right)

Duty

Doing something because it’s the right thing to do

What does the Morality: Duty vs. Inclination argument state?

Only actions performed out of duty have moral worth. Actions driven by desire, self-interest, or sympathy lack true moral worth

Autonomy

acting according to laws given to oneself by reason

Heteronomy

acting out of external promptings or physical desires

What key argument are Autonomy and Heteronomy involved in?

Freedom

What are the 2 types of Imperatives?

Hypothetical and Categorical

Hypothetical Imperative

Conditional (If you want X, then do Y), action is good solely as a means to something else

Categorical Imperative

Unconditional = universally, all the time, without exception, act is good in itself - not merely as a means to an end

What are the 2 formulations for Categorical Imperatives

Universal Law and “Humanity as an end and not just a means”

Form 1: Universal Law

Act only on that maxim whereby you can and at the same time will that it should become law

Form 2: “Humanity as an end and not just a means”

Always treat humanity, whether in your own person or that of another, never simply as a means, but always as an end, prohibits exploiting people for profit or utility

What key argument are Hypothetical and Categorial Imperatives involved in?

Reason

Libertarianism

Political philosophy which holds individual liberty as a basic moral principle, advocates for minimal state and opposing morals legislation, paternalism, and wealth redistribution

What 2 factors is Nozick’s Entitlement Theory made up of?

Justice in Acquisition (property earned through labor), and Justice in Transfer (voluntary market trade or gift)

Self-Knowledge & Alignment

5th GVV Pillar, Recognize your personal strengths, communication style, and risk tolerance. Align values-driven action with who you naturally are

Voice

6th GVV Pillar, using words to speak about what matters most to you while also using persuasive arguments tailored to your audience

Reasons & Rationalizations

7th GVV Pillar, Anticipate standard organizational pushback of Standard Practice, Materiality, Locus of Responsibility, and Locus of Loyalty

Locus of Loyalty

“I know this isn’t quite fair to the customer, but I don’t want to hurt team/boss/company.”

Locus of Responsibility

“This isn’t my responsibility, I’m just following orders here.”

Materiality

impact of this action is not material. It doesn’t really hurt anyone

Standard Practice

“Everyone does it”

Who was the key philosopher of Dentology?

Immanuel Kant

Who was the key philosopher of Equality?

John Rawls

Who was the key philosopher of Virtue Ethics?

Aristotle

Veil of Ignorance

Crafted in the hypothetical social contract where no participant knows their class, race, gender, intelligence, or wealth

What are the 2 principles of Justice?

Equal Basic Liberties and Difference Principle

Difference Principle

social/economic inequalities are permissible only if they work to the maximum benefit of the least advantaged members of society

Moral Arbitrariness

Natural talents, innate intelligence, and family background are lucky accidents of nature, individuals don’t possess absolute moral desert to market rewards, though they are entitled to expectations established by fair social rules

Virtue Ethics

Focuses on character development rather than rules or outcomes

Virtue

a deep-seated disposition representing a Golden Mean between two extremes (deficiency and excess), ex: Cowardice (deficiency) vs. Courage (Golden Mean) vs. Foolhardiness (Excess)

Teleological Justice

To determine fair distribution of rights, honors, or goods, one must determine the Telos of the social practice, Justice is both this and honorific

Behavioral Ethics

examines why good people make bad ethical choices due to situational pressures and cognitive blind spots: framing effects, loss aversion, anchoring, priming, and incremental rationalization

Who wrote “Giving Voice to Values”?

Mary Gentile