Business Ethics

Front 1

Utilitarianism

Back 1

An action X is right if X maximizes the overall happiness of those affected by X.

Front 2

Four Kinds of Utilitarianism

Back 2

Hedonistic
Act
Rule
Ideal

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Hedonistic Utilitarianism

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View about what has intrinsic value. Pleasure is the only intrinsically good while pain is the only intrinsically bad thing.

Front 4

Act Utilitarianism

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Measuring the value of an an act to it's alternatives to se which one increases general utility or happiness.

Front 5

Rule Utilitarianism

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An act is right if it conforms to a valid rule in the system of rules who's acceptance leads to greater utility for society. From previous experience.

Front 6

Ideal Utilitarianism

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Actions that promote moral ideas in connection to overal happiness.

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Maxim

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A reason of principle for doing some action X

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Hypothetical Imperative

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Any action based on desires, it is a command of reason that applies on if one desires the goal in question.

Front 9

Categorical Imperative

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Not based on any consequences but performed for the sake of duty only, they are ends in themselves not simply means to an end.

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Hypothetical rule:

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You should help others because it could result in your benefit (money)

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Categorical

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You should help others because you would prefer to be helped too

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Kant Believed:

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That we are not all fully ration but can become more rational. A categorical imperative is done purely out of duty, it has no regard for self interest. Any rational Human would chose the categorical imperative.

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3 Forms of Categorical Imperative

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A test established by reason to determine if a maxim is morally permissible. If morally permissible, it is a duty.

1. Universal Law
2. Formula of Humanity
3. Formula of Reciprocity

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Universal Law (form of categorical imperative)

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Doing something because you will it to become a universal law.

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Formula of Humanity (form of categorical imperative)

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Treat the humanity of yourself and others as an end and never as a means.

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Formula of reciprocity (form of categorical imperative)

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Doing something because you would want the same done to you as a recipient.

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Virtue Theory

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Excellence in fulfillment of a particular function

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Aristotle Believed:

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Virtue is a product of habit and that intellectual excellence is derived mainly from teaching. Moral virtue is a product of nature or habit.

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4 Character Types:

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1. Excellence of character
2. Strength of Character
3. Weakness of Character
4.Badness of Character

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Goal of character types:

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To form rightly ordered desires, so that people desire what is truly good for them.

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Primary Goods

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Things that every rational man is presumend to want

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7 Primary Goods:

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1. Rights
2. Liberties
3. Powers
4. Opportunity
5. Income
6. Wealth
7. Social Basis for Self-Respect

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Vail of ignorance

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People will unanimously adopt the principles of justice if their reasoning is based on general considerations, without knowing anything about their own personal situation.

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Principle of Justice

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Requires that we act in ways that treat people equitably and fairly. Must provide for a fair and equal distribution of primary goods.

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Libertarianism

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Each person has the right to live his life in any way he chooses so long as he respects the equal rights of others. We own our own selves as our own property.

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Two Principles of Justice:

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1. Liberty Principle
2. Difference Principle

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Liberty Principle (1)

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Each person has an equal right to the most extensive liberties compatible with similar liberties for all

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Difference Principle (2)

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Social and economic inequalities are to be arranged so that they attach two positions and offices, open to all, under conditions of fair equality of opportunity and to the greatest benefit of the least advantaged.

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Two facts about human nature based off Utilitarianism

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1. We prefer pleasure over pain
2. We act in ways to seek happiness

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3 parts of Difference Principle:

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1. One has no knowledge of probabilities of outcomes
2. One has no reason to try for anything above the minimum possible.
3. The alternatives have dire, unacceptable worst-possible outcomes.

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Hedonistic functions of X

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Intensity (how strong)
duration (how long)
certainty (how sure)
propinquity (how soon)
fecundity (how many more)

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Principles of Reason:

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1.)consistent
2.)Logical

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Types of Maxim:

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Subjective Maxim
Objective Maxim

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Objective Maxim

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A reason for undertaking an action that could, in principle, be adopted by all

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Subjective Maxim

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Some action X