1. CSR And Limits Of Markets Flashcards
Why aren’t ethics just culturally relative?
Ethics demands consistency in application an ethical framework. Ethical frameworks can differ based on culture, but have to be prescribed in the same way
Name three ethical objectives
Minimize harm and maximize good
Respect people’s rights
Ensure fairness
Three reasons for disagreement on ethics
Theoretical: can use logic to decide who is correct
Empirical: can gather data to decide who is correct
Normative: no obvious way to decide who is correct
Descriptive ethics
How do people make ethical choices? Eg actions of key stakeholders , how others evaluate actions, difference of reactions of people acting with good intentions.
When something is clearly unethical how can we lead people not to do those things
Normative/prescriptive ethics
How to make ethical choices? Clarify our own ethical intuitions and given certain moral principles, what should I do?
When people disagree ether or not something is unethical how can we make decisions?
Why is self interest insufficient in guiding ethical behavior
Markets may be insufficient
Institutions may be insufficient
Effect of liability law
Incentives to incorporate safety features
Can help align self interest and public interest
Trade offs (apply concept to auto case)
Too few safety features = many injuries, too many safety features = high cost, reduced access
Distribution (concept apply it to auto case)
What if injuries are concentrated in sensitive populations like children
Transparency (apply it to auto case)
How transparency t should companies be about product safety
Moral outrage (apply concept to auto case)
Outrage against companies for making unsafe products
