GMS 802 Lecture Notes - Lecture 3: Kantian Ethics, Universalizability, Virtue Ethics

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 802
• Professor: Jian Guan

Document Summary

3 types of ethical theories: teleological theories, deontological theories, virtue ethics. Utilitarianism: principle of utility, four these of utilitarian principle, act- and rule-utilitarianism, calculating utility, cost-benefit analysis, quantitative method for decision making, advantage of cost-benefit analysis, evaluation of cost-benefit analysis, assigning monetary values. The market price or value of goods and services can be used to compare outcomes. Consequences measured by monetary value in a market. Placing a value on human life and experiences. Market value can be estimated by analyzing the relative worth of choices suggested by actual behavior. Can apply cost-benefit analysis to issues such as human health and safety. Implications for moral reasoning: respect for persons, features, respect people as human beings. Virtue ethics: what is virtue, aristotle"s idea about virtue, characteristics of virtuous people, defending the virtues, traits required for a good life, virtue in business, applying virtue ethics to business. Not all costs and benefits have a discernible market value or can be objectively valued.