Test 2 Flashcards
What is Employment-at-Will
An employer can terminate an employee at any time, for any reason (no reason) as long as its not illegal, and the employee can quit at any time, for any reason
Why does Epstein think EAW is fair
If the employer and employee both consents, then the relationship is fair because no one is being forced
Why does Epstein think EAW is useful to the employer and employee
Provides flexibility to employer by allowing them to adapt quickly to business needs and employees are free to leave if they see a better opportunity, which creates a dynamic, efficient job market
Why does Epstein think EAW doesn’t violate distributional concerns?
Argues that forcing companies to keep workers (even when it’s not efficient) harms the overall company. Helping one person unfairly might hurt others – like customers, other workers, or company itself. It is not about equal outcomes; it is about freedom to make voluntary agreements and letting the market sort out rewards.
What is the Respect for Persons principle? Which version of the Categorical Imperative is similar?
People must be treated as an ends in themselves, never merely as means to an end. This principle aligns with Kant’s Categorical Imperative of act in such a way that you treat humanity, whether in your own person or in another person, always at the same time as an end, never merely as a mean
d. Why do Norman Bowie, Patricia Werhane, and Tara Radin think Employment-at-Will violates the Categorical Imperative when the employee is fired for no good reason or for a bad reason?
They believe that Kantian ethics requires people be treated as ends in themselves, not as tools or means to an employer’s goals, when an employer fires someone without good reason, they are treating an employee merely as means to an end. Fails to respect rational autonomy, reducing them to just a cost or resource. Lacks universalizability because if there was no stability in employment, everything would crash
What do Werhane and Radin recommend be done to protect employees in the private sector from the abuse of Employment-at-Will?
Recommends modifying or limiting EAW to better protect employees in the private sector, especially from unjust or arbitrary termination. Just Cause standard. Fair due procedures. Voluntary employer reforms
How might a utilitarian explain why we should value health and safety?
we should value health and safety because it promotes the greatest overall happiness and minimizes suffering — which is the core goal of utilitarian ethics.
How might a Kantian explain why we should value health and safety?
A Kantian would explain that we should value health and safety because it is part of our moral duty to treat people with dignity and respect, as ends in themselves, not merely as means to profit or productivity.
How might a proponent of Rawls’ egalitarianism explain why we should value health and safety?
A proponent of Rawls’ egalitarianism would argue that we should value health and safety because it is necessary to ensure fairness, equal opportunity, and protection for the least advantaged — all central ideas in John Rawls’ theory of justice.
How might a proponent of Nozick’s libertarianism explain why we should value health and safety?
Government should be minimally limited to protecting individual rights. It is justified if it protects people from harm by others—like stopping companies from selling dangerous products, but it is not justified if it tries to protect people from themselves. People should be free to take risks, as long as they’re fully informed and not harming others
How might a virtue theorist explain why we should value health and safety?
A virtue theorist, drawing from thinkers like Aristotle, would say we should value health and safety because doing so reflects and cultivates good character — especially virtues like justice, prudence (practical wisdom), compassion, and courage.
What are Deontological Theories
focus on intentions as the morally relevant aspects of the act “As long as the leader acts according to his or her duty or on moral principles, then the leader acts ethically, regardless of consequences”
What are Teleological Theories
focus on the consequences of the actions. “Do they bring about good results or “the greatest good”?
Why does Joanne Ciulla think Deontological and Teleological Theories are important
She thinks that these are both necessary because just like virtue theories, she believes you are what you do. BUT when you are learning to acquire a virtue, you do actions associated with said virtue, but you do not yet do the action as virtuous persons.
What are the three modes of persuasive arguments (According to Aristotle)
Ethos - the personal character of the speaker/writer/leader
Pathos - the emotional appeal of the argument
Logos - the structure of the argument in support of the conclusion
What is the Agreement View and why does it show that the high salaries of CEOs are unjust
The agreement view says that just prices for goods are obtained through arm’s length between informed buyers and informed sellers. Provided there are no imperfections in the bargaining process, such as fraud, the wage that comes out of the agreement is just. From this, Moriarty states that the negotiations are not at arms-length because the shareholders who buy services that the CEO is selling do not elect the company’s board of directors in any way. In most cases the current board controls who is elected, and the CEO is often the head of the board directors
What ethical theory is the Agreement View similar to
Nozick’s Theory of Justice – justice is about how things were acquired and transferred, not about equal outcomes (just acquisition, just transfer, rectification). If the process is fair, the result (even if unequal) is just
What is the Desert View and why does it show that the high salaries of CEOs are unjust?
The desert view says that people deserve certain wages for performing certain jobs, and what they deserve depends upon the difficulties of the job and the level of performance. CEOs should be rewarded in proportion to what they morally deserve—based on their effort, contribution, or merit. High salaries of CEOs is unfair because of (1) disproportionate pay compared to contribution (2) CEO benefits come from factors outside their control (3) Excessive CEO pay demoralizes employees (4) And also gives them more social and political power
What ethical view is simlar to the Desert View
Aristotle’s classical virtue of theories of justice – justice means giving people what they deserve, based on their virtues and roles in society. Treating equals equally and unequals unequally—in a fair way. So, people should get rewards or responsibilities based on things like their character, contributions, and abilities
What is the Utility View and why does it show that the high salaries of CEOs are unjust?
Utility View says that a just wage for a CEO is one that maximizes the firm’s wealth by attracting, retaining, and motivating a talented leader. The CEO’s job is, in some ways, more difficult because of its stresses and responsibilities. Nevertheless, it is not so difficult and stressful that it requires 301 times the wages of the typical worker to attract someone to be the CEO. It might be thought that a high level of compensation is necessary to retain talented CEOs. This does not seem to be the case. There are not many competing offers, and if it is
not that difficult to attract a talented CEO, it is not that difficult to retain one.
What, according to Milton Friedman, is the purpose of a business corporation?
To maximize shareholder value and increase profits for its owners. Spending company money on social responsibilities that don’t contribute to profit is, in effect spending someone else’s money for general social interest is NOT their role.
Why might a shareholder object to a business using some of its profits to support a social cause?
Not a corporations role, spending money on social causes is taxation without representation, undermines free market principles, slippery slope to managerial overreach
Would Friedman object to the huge price increase that Walgreens and OptumRx charged for asthma medication?
Friedman would not object to high prices simply because they are high because he believes in profit maximization but if they broke the law or rules of free and fair competition he would not support it.