Midterm Flashcards
Manny Vasquez
“A Framework for Ethical Decision Making”
ETHICAL FRAMEWORK
Defines ethics
Answers 2 Fundemental Q’s
- On what do we base our ethical standards?
- How do those standards get applied to situations we face?
5 sources of ethical standards:
1) Utilitarian Approach
2) Rights Apprpoach
3) Fairness or Justice Approach
4) Common Good Approach
6) Virtue Approach
Charles Murray
“Why Capitalism Has an Image Problem”
ETHICAL FRAMEWORK
Success doesn’t equal virtue anymore
In favor of capitalism
Collusive and Crony Capitalism
AAUW
“The Simple Truth About the Gender Pay Gap”
GENDER BASED DISCRIMINATION
Neutral
Causes for gender pay gap:
1) segregation by occupation
2) Tradit. Men jobs pay more
3) Valuing some jobs more than others
20% pay gap
Ashe Schow
“Harvard Prof. Takes Doen Gender Pay Gap Myth”
GENDER PAY GAP DISCRIMINATION
Biased
Pay gap due to choices woman make & not discrimination
Other article also mentioned choices but it goes beyond simply just choices
“stay at home dads” look unsuccessful, thinks society should change that
Edward Lawler
“Outrageous Executive Compensation: Corporate Boards Not The Market Are To Blame”
EXECUTIVE COMPENSATION
Societal gap bw top earners and the rest
Justifies that it’s not market demand, bc CEO’s tend to stay in one company
Executive compmensation is high due to the self interest of directors from CEO’s
Introduced to the idea that some directors are in other companies so it’s all done for self interst, or tribal egoism
Must have fewer CEO’s on corporate boards, & compose the board of strong independent directors
AGAINST EXECUTIVE COMPENSATION
Richard Feloni
“The Reason CEO Pay is So High Right Now Has Little To Do W/ Greed”
Agree’s median pay of CEO’s is 257x of avg employee
CEO pay reflects performance
Technology advancements have increased pay gap
Increase CEO pay, everyone wins.. incentive to work harder, similar to Albert Reese Tournament Model
Non shareholders should have no say
Lowering CEO pay would not raise middle/lower class standards
FOR EXECUTIVE COMPENSATION
Albert Reese
“The Tournament as a Model for executive compensation”
Tournament Model
Large prizes like large income, are incentives for everyone to do their best
Points out ways however that a tournament differs from reality
1) Time frame
2) Nature of the Game
3) What happens to those who don’t win
4) Managers aren’t hired at the beg. level
5) Comp. success isn’t dependent on the effort of players
High profits, don’t mean there’s an increase in CEO compensation
Daily Take Team
“If a business won’t pay a living wage it shouldn’t exist”
Paying a living wage is good for the economy
Talked specially about Walmart
Walmart employees struggle to get by and few qualify for its health insurance
This means taxpayers subsidize the Walton Family bc employees need govt assistance to get by
Compares Walmart to Costco.. it’s possible for a comp to pay a living wage, offer low prices and still make $
Living wage is something corps owe to America
If it doesn’t pay a living wage it shouldn’t exist
Stephan Gandel
“Why Walmart can afford to give workers a 50% raise”
AAUW
“The Simple Truth About the Gender Pay Gap”
GENDER BASED DISCRIMINATION
Neutral
Causes for gender pay gap:
1) segregation by occupation
2) Tradit. Men jobs pay more
3) Valuing some jobs more than others
20% pay gap
Ashe Schow
“Harvard Prof. Takes Doen Gender Pay Gap Myth”
GENDER PAY GAP DISCRIMINATION
Biased
Pay gap due to choices woman make & not discrimination
Other article also mentioned choices but it goes beyond simply just choices
“stay at home dads” look unsuccessful, thinks society should change that
Edward Lawler
“Outrageous Executive Compensation: Corporate Boards Not The Market Are To Blame”
EXECUTIVE COMPENSATION
Societal gap bw top earners and the rest
Justifies that it’s not market demand, bc CEO’s tend to stay in one company
Executive compmensation is high due to the self interest of directors from CEO’s
Introduced to the idea that some directors are in other companies so it’s all done for self interst, or tribal egoism
Must have fewer CEO’s on corporate boards, & compose the board of strong independent directors
AGAINST EXECUTIVE COMPENSATION
Richard Feloni
“The Reason CEO Pay is So High Right Now Has Little To Do W/ Greed”
Agree’s median pay of CEO’s is 257x of avg employee
CEO pay reflects performance
Technology advancements have increased pay gap
Increase CEO pay, everyone wins.. incentive to work harder, similar to Albert Reese Tournament Model
Non shareholders should have no say
Lowering CEO pay would not raise middle/lower class standards
FOR EXECUTIVE COMPENSATION
Albert Reese
“The Tournament as a Model for executive compensation”
Tournament Model
Large prizes like large income, are incentives for everyone to do their best
Points out ways however that a tournament differs from reality
1) Time frame
2) Nature of the Game
3) What happens to those who don’t win
4) Managers aren’t hired at the beg. level
5) Comp. success isn’t dependent on the effort of players
High profits, don’t mean there’s an increase in CEO compensation
Daily Take Team
“If a business won’t pay a living wage it shouldn’t exist”
Paying a living wage is good for the economy
Talked specially about Walmart
Walmart employees struggle to get by and few qualify for its health insurance
This means taxpayers subsidize the Walton Family bc employees need govt assistance to get by
Compares Walmart to Costco.. it’s possible for a comp to pay a living wage, offer low prices and still make $
Living wage is something corps owe to America
If it doesn’t pay a living wage it shouldn’t exist
