PHI 2397 Lecture 2: PHI2397-Course2
9 Jun 2017
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Document Summary
Two initial general ideas: corporate social responsibility (csr), not just profits , 2. Milton friedman the social responsibility or business is to increase its profits (1970) economist, u. of chicago, advisor to governments: nobel prize economics 1976, died. Bluffing in business is considered ethical, because the other party"s should be doing it too. It"s part of the basic rules of the game. Stakeholders: groups involved in or affected by corp. Who= employees, customers, suppliers, community / citizens generally, foreign host countries. Social responsibility -- and ethics -- not defined, not definable. Private interest not contrary to public interest: market resolves problems = laissez-faire capitalism. Issue not mainly need to do good, but avoid harm: moral minimum . Corps can be responsible through roles and policies, collective decisions. Prisoner"s dilemma : suppose there has been a crime that has been committed. The situation is that the police don"t have substantial evidence to convict the suspects.
