PHIL201 Lecture Notes - Lecture 2: Rational Egoism, Psychological Egoism, Invisible Hand
6 Jun 2018
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WEEK 2
Ultimate Values and Ultimate Choices
How do we live our life?!
Reflecting our life decisions critically, how can we realize our goals!
What is the point of life? —> fundamental question of ethics (Plato and Aristotle) !
What should we be aiming at in life?!
Ethics is about rules, should I be doing this at work or not?!
All decisions have an impact and will reflect of the kind of goals!
What kind of things should we really aim? Justice, Kindness, …!
Traditional goal of business is money making and this is self-interested !
How can this egoistic business activities be combined with altruistic ethics!
What complications can arrive in medical ethics? !
Why do we develop properties!
Avarice (Habsucht)
Plato dismiss the money making, negative view on business and rational commerce!
Sin of avarice!
„The love of the ones is the root of all evil“ St. Paul!
Cleansing of the Temple —> Jesus!
Jesus said to this people that they demeaning this place to a place of buying and selling !
It was sin to charge interest on loans, because the addition of money in form of interest is
something that not work (?) !
16th Century !
Reformation led to a dramatic shift in attitudes towards commerce and wealth in the West, its no
longer a sin, it became sign if gods grace "
Problem: how can we reconcile the self interested pursuit of wealth with the altruistic nature of
ethics!
Wealth become to a god thing and it is very self-interested !
Adam Smith „The wealth of nations“ The invisible hands
This change in thinking of society led to a big change of acting of business man!
They should no concern themselves with ethics, private business and business people do most
for the common good, if they just concentrate on their own self interested, because they can then
have the biggest outcome for the common society!
People that are self-interested are guided as if by an invisible hand to further the common good.!
The market heals itself!
The invisible hand is just a metaphor for the forces of supply and demand!
Smith: I have never known much good done by those who affected to trade for the public good“ !
Its better if business people not thinking about ethics!
Business & Society don’t concern about ethics, its better for the common good!
We should not expect business people thinking about altruism about ethics, because if they are
self interested they will also be best for common society!
Greed is good?
!
It can be healthy to be greedy, because you are helping the economy, that supports people!
Trump: My whole life has been money, I want money, I want money…!
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Re ecting our life decisions critically, how can we realize our goals. > fundamental question of ethics (plato and aristotle) All decisions have an impact and will re ect of the kind of goals. Traditional goal of business is money making and this is self-interested. How can this egoistic business activities be combined with altruistic ethics. Plato dismiss the money making, negative view on business and rational commerce. The love of the ones is the root of all evil st. paul. Jesus said to this people that they demeaning this place to a place of buying and selling. It was sin to charge interest on loans, because the addition of money in form of interest is something that not work (?) Reformation led to a dramatic shift in attitudes towards commerce and wealth in the west, its no longer a sin, it became sign if gods grace.
