BAET 20300 Study Guide - Final Guide: Perfect Competition, Logotherapy, Due Process
Document Summary
Legal compliance vs ethical responsibility cannot rely on law bc ignore role of managerial discretion: students think for themselves. Tolerating diverse opinions and values different from ethical relativism: utilitarianism: maximizing overall good, action"s ethical significant determined by consequences of that act, strong support for democratic institutions and policies a. i. Influential in business, public policy, politics, economics: consequentialist ethics, bentham: happiness = ultimate good maximize pleasure, minimize pain c. i. Not egoism (happiness of individual), instead overall good: mill: qualitative dimension ot happiness social and intellectual pleasures d. i. Educate and experience pleasures before judging: neo-classical economics, aka free market capitalism = utilitarian e. i. Most efficient means to maximize satisfaction of preferences: challenges f. i. Consider all consequences to all stakeholders incalculable f. iii. Different versions of good and implications for human freedom f. iv. Balance of individual freedom and overall good is challenge f. v. Consequentialism: ends don"t justify means based on principles f. v. 1.
