. Applying the four methods of ethical reasoning (utilitarianism, rights, justice and virtue), do you believe Massey Energy behaved in an ethical manner? Why or why not?
Massey Energy did not act in an ethical manner toward rights of workers, justice, virtue or utility. Utilitarianism methods of reasoning wasn’t apparent at Massey Energy because the end result of the business didn’t justify what they were creating as a company. Massey Energy, who is run by Don Blakenship, at the time of the disaster was one of the leading coal producers in America due Massey extracting 37 million tons of coal a year; however the company is responsible for 29 miners deaths after Massey’s Upper Big Branch exploded. Massey Energy brought benefits to America by …show more content…
Certain homebuyers purchased homes that they knew they couldn't afford. They knew the amount of money they were bringing in a month couldn't sustain the addition of a mortgage. Mortgage lenders many loans to people with poor credit and total disregard of whether the party could pay the loan back. The lenders saw cash in their eyes with little risk, so they did as any other unethical company would do. Policymakers wanted individuals to take advantage of policies that would help home ownership regardless of the individual financial circumstances. Investment bankers, regulators and Moody’s itself all share responsibility because of their actions. Investment bankers and Moody’s saw a government loophole with the promise of substantial monetary gain regardless of their actions being …show more content…
During The Great Depression unemployment was devastatingly high around 25% whereas during the 2008 stick market issue unemployment rate was around 10% is certain states (“Causes of The Great Depression”). On the other hand, in the previous question one can learn that calculating the unemployment rate is the most difficult statistic to calculate because of the unknown. Another comparison was during the stock market crash and the following of The Great Depression not a lot of Americans, if any, wanted to spend or waste money. In 2008 the same result was evident, people stopped shopping was more frugal with their money than ever before. One of the main differences was process speed before the government took action. After the stock market crash the government didn't feel empower to figure what was going on and then make the necessary changes to slow of stop the recession that quickly turned into a depression. In 2008 it was the complete opposite, the government was rushing to stop the economic bleeding. Another similar characteristic was the bank failures during both time periods. The Great Depression also lasted for four-five years, but the 2008 Recession lasted two years. The Depression cause thousands upon thousands of banks to close along with their customers life-savings. In evident by the numbers that The Great Depression left America in a drought while also creating a drought and the 2008
Massey Energy did not act in an ethical manner toward rights of workers, justice, virtue or utility. Utilitarianism methods of reasoning wasn’t apparent at Massey Energy because the end result of the business didn’t justify what they were creating as a company. Massey Energy, who is run by Don Blakenship, at the time of the disaster was one of the leading coal producers in America due Massey extracting 37 million tons of coal a year; however the company is responsible for 29 miners deaths after Massey’s Upper Big Branch exploded. Massey Energy brought benefits to America by …show more content…
Certain homebuyers purchased homes that they knew they couldn't afford. They knew the amount of money they were bringing in a month couldn't sustain the addition of a mortgage. Mortgage lenders many loans to people with poor credit and total disregard of whether the party could pay the loan back. The lenders saw cash in their eyes with little risk, so they did as any other unethical company would do. Policymakers wanted individuals to take advantage of policies that would help home ownership regardless of the individual financial circumstances. Investment bankers, regulators and Moody’s itself all share responsibility because of their actions. Investment bankers and Moody’s saw a government loophole with the promise of substantial monetary gain regardless of their actions being …show more content…
During The Great Depression unemployment was devastatingly high around 25% whereas during the 2008 stick market issue unemployment rate was around 10% is certain states (“Causes of The Great Depression”). On the other hand, in the previous question one can learn that calculating the unemployment rate is the most difficult statistic to calculate because of the unknown. Another comparison was during the stock market crash and the following of The Great Depression not a lot of Americans, if any, wanted to spend or waste money. In 2008 the same result was evident, people stopped shopping was more frugal with their money than ever before. One of the main differences was process speed before the government took action. After the stock market crash the government didn't feel empower to figure what was going on and then make the necessary changes to slow of stop the recession that quickly turned into a depression. In 2008 it was the complete opposite, the government was rushing to stop the economic bleeding. Another similar characteristic was the bank failures during both time periods. The Great Depression also lasted for four-five years, but the 2008 Recession lasted two years. The Depression cause thousands upon thousands of banks to close along with their customers life-savings. In evident by the numbers that The Great Depression left America in a drought while also creating a drought and the 2008