PHIL 230 Study Guide - Final Guide: Fiduciary, Executive Compensation, Egalitarianism
4 Feb 2020
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Promoting the overall total may require making some worse-off. But --- this has not been better for each individual. Scenarios in which inequality benefits every individual in comparison to the equal scenario. Remember: benefit every individual is different from benefit overall in the util sense: picture on phone of drawing. All we need is the definition of fiduciary duty: Fiduciary duty: the duty of executives to put the firms interests ahead of their own: moriarty"s conclusion: Putting the firm first means accepting the lowest compensation that attracts, retains, and motivates the person to do the job. Optimal motivation: the point at which every dollar gets a dollar"s worth of motivation. The key premise (p*) accepting more than one"s mec violates fiduciary duty by imposing unnecessary costs on the firm (q1) why are the costs unnecessary? (a) because the person would be willing to do the job for less money.
