Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
76 Cards in this Set
- Front
- Back
- 3rd side (hint)
|
Purpose of Law
|
To create a structure to sustain order for the functioning of a civil society.
|
|
|
|
Etiquette
|
The conduct or procedure required by good breeding or prescribed by authority to be observed in social or official life
|
|
|
|
Capitalism
|
open markets. free exchange of goods
|
|
|
|
Conditions of a free market
|
-Information about the goods
-Voluntary participation -Private property |
create constraints on economic behavior
|
|
|
Adam Smith
|
First to propose capitalism in Wealth of Nations. Advocated that the pursuit of self-interest will lead to stable exchange markets.
|
|
|
|
Constraints to pursuit of self-interest
|
empathy
fairness honesty benevolence |
|
|
|
bad employer reputation
|
hard time recruiting
attracts opportunists-who will profit at co's expense |
|
|
|
executives and ethics
|
-support ethics of culture
-are role models -broadcasts co's values |
|
|
|
benefits of ethics
|
-trust=efficient business
-values=guide decisions |
|
|
|
ethics (Trevino&Nelson)
|
The principles, norms, and standards of conduct governing an individual or group.
|
|
|
|
ethics (Velasquez)
|
Matters of serious consequence to human well-being
|
|
|
|
Ethics (Merriam-Webster)
|
The discipline dealing with what is good and bad and with moral duty and obligation
|
|
|
|
Teleology
|
Concerned with the outcomes or results of a decision
|
|
|
|
consequentialism
|
Concerned with the consequences of a decision
|
|
|
|
People of Utilitarianism
|
Jeremy Bentham (1789)
John Stuart Mills (1863) |
|
|
|
People of Ethical Egoism / Objectivism
|
Plato (428 – 348 BC)
Thomas Hobbes (1588 – 1679) Ayn Rand (1905-1982) |
|
|
|
Utilitarianism
|
The ethically correct decision is the one that maximizes overall good.
“the greatest good for the greatest number” |
|
|
|
Utilitarianism Procedure
|
Determine alternative actions or policies that are available at the time.
Estimate the direct and indirect benefits and costs that the action would produce for each and every person affected by the action in the foreseeable future. The alternative that produces the greatest sum total of utility is the ethically appropriate course of action. |
|
|
|
Utilitarianism Conditions
|
-does NOT involve finding the most utility for the person making the decisio
|
|
|
|
Utilitarianism Benefits
|
-Intuitively appealing
|
|
|
|
Utilitarianism Problems.
|
-Measuring utility
|
|
|
|
Egoism
|
Ethical egoism is a normative theory that prescribes how people should act
|
pursue their self-interest
|
|
|
Objectivism
|
Ayn Rand
|
|
|
|
virtues of rationality
|
Independence, integrity, honesty, justice, productiveness and pride
|
|
|
|
freedom
|
power to act without coersion by others.
|
|
|
|
Deontology
|
rights and duties
|
|
|
|
Categorical Imperative
|
Kant
Requires that everyone should be treated as a free person equal to everyone else |
|
|
|
Categorical Imperative First Formulation
|
Universal & Reversible
|
|
|
|
Universalizability
|
everyone could act this way
|
|
|
|
Reversibility
|
the reasons for acting are reasons I am willing to have others use, even as a basis for how I am treated
|
|
|
|
Categorical Imperative Second Formulation
|
Never treat people only as a means, but always also as ends
|
develop people's capacity to chose for themselves (offer them honest/true info)
|
|
|
Rights
|
An individual’s entitlement to something
|
|
|
|
Moral Rights
|
Entitlements that exist as a condition of being human
Universal |
|
|
|
Legal Rights
|
Entitlements that are granted by a legal system. Specific to region
|
|
|
|
contractual rights and duties
|
When people enter into an agreement where each promises something in exchange for something else
|
must see each party as an end, not just a means
|
|
|
Duties
|
Responsibility to recognize and act on the rights of others
|
others have a duty not to prevent another from exercising their rights/help others exercise their rights
|
|
|
Teleology v Deontology
|
Rights are concerned with the welfare of the individual. rights prevail over utilitarianism
|
Consequentialist theories are concerned with the welfare of society as a whole so sometimes rights don't override utilitarian standards
|
|
|
Rights Theories Benefits
|
provides right to minimal survival needs. right to be free from injury and to be free to associate with anyone. justifies contracts.
|
intuitive
framework for free market |
|
|
Prescriptive theories
|
what you should do
|
|
|
|
utility
|
sth you value/unit of measure
|
|
|
|
Rights Theories Problems
|
-ambiguity-when is someone a means? what's a right?
-constraints-limits to rights -first formulation hard to accept |
|
|
|
Virtue
|
subcomponent of values.
trait or quality deemed to be morally excellent and thus is valued as a foundation of principle and good moral being |
|
|
|
values
|
broad preferences concerning appropriate courses of action or outcomes. Values tend to influence attitudes and behavior.
|
|
|
|
Classic Western Virtues
|
Temperance (moderation)
Prudence (discriminating judgment) Fortitude (standing up for convictions) Justice (fairness) |
|
|
|
Virtue Ethics
|
motivations
character intentions |
|
|
|
Ayn Rand's Fundamental values
|
Reason
Purpose Self-esteem |
|
|
|
Ayn Rands 7 Virtues
|
rationality
productiveness pride independence integrity honesty justice |
|
|
|
Virtues & Objectivism
|
ok to act on own self-interest as long as you have a reason and self-knowledge (values)
|
|
|
|
corporate culture
|
shared values and assumptions of the company
|
|
|
|
Justice
|
maintenance or administration of what is just especially by the impartial adjustment of conflicting claims or the assignment of merited rewards or punishments.
|
|
|
|
Types of Justice
|
distributive
retributive compensatory procedural |
|
|
|
Distributive Justice
|
distribution of rewards/punishments
|
|
|
|
Retributive Justice
|
right kind of punishment
|
|
|
|
Compensatory Justice
|
compensation for whats been lost
|
|
|
|
Procedural Justice
|
decision process fairness
|
|
|
|
Intent
|
people's intention needs to be taken into account to judge their actions. Accidents (bad logic) are not unethical.
|
|
|
|
Decision Making
|
The process of choosing a course of action from among alternative courses of action
|
-involves making a judgement
-involves choice |
|
|
judgement
|
the process of forming an opinion or evaluation by discerning and comparing
|
|
|
|
Rational Decision Making
|
rational people will make the choice that maximizes their own self-interest
|
|
|
|
6 Steps to rational decision making
|
define problem
identify criteria weight criteria alternative courses of actions evaluate alternatives compute optimal decision |
|
|
|
Rational Model Benefits
|
gives optimal decision
is defensible |
|
|
|
Rational Model Problems
|
time consuming
criteria difficult to evaluate too many alternatives (unknown) missing info expensive |
used for high impact decisions in business
|
|
|
Rational Model Constraints
|
Bounded rationality
Satisfycing |
|
|
|
Bounded Rationality
|
limited ability to process info
|
|
|
|
Satisfycing
|
good enough
|
|
|
|
Other decision making failures
|
cognitive psychology
-escalating commitment -gambler's fallacy -framing |
|
|
|
Trevino/Nelson Model
|
gather facts
define ethical issue identify stakeholders identify consequences identify obligations consider character/integrity generate alternatives check gut |
|
|
|
Gather Information
|
make sure you searched for enough info about the problem
|
|
|
|
Define Ethical Issue
|
identify all issues involved
|
|
|
|
ID stakeholders
|
id who is affected
id to whom you have duties/who's rights might be affected id their needs |
|
|
|
ID Obligations
|
who's rights are affected? are there duties?
|
|
|
|
ID Consequences
|
prioritize consequences
long-term and short-term symbolic (reputation) results in secrecy |
|
|
|
Consider Character / Integrity
|
if it went public, would you be alright defending your stance?
|
|
|
|
Alternatives
|
make sure you explore alternatives
|
|
|
|
Gut
|
emotions>>>intuitions
-rationalize unethical actions which emotions don't let you rationalize |
guilt
fear anxiety relief satisfaction happiness |
|
|
Quick Decisions
|
give time
poor decisions (may be modified;learning opportunity) |
|
