LAW 1101 Chapter Notes - Chapter 9: Purdue Pharma, Business Ethics, Profit Maximization
Document Summary
Chapter 9: business ethics: ethics is not as clearly defined as the law, some ethical scandals arise from illegal conduct, although some conduct may be legal, it is questionable ethically. The study of ethics is the study of what constitutes right or wrong behavior (moral principles and values applied to social behavior) A branch of philosophy that focuses on morality and the way in which moral p(cid:396)i(cid:374)(cid:272)iples a(cid:396)e de(cid:396)i(cid:448)ed a(cid:374)d applied to o(cid:374)e"s (cid:272)o(cid:374)du(cid:272)t i(cid:374) daily life. Ethics has to do with question relating to the fairness, justness, rightness, or wrongness of an action. Case example 9. 1 powerful narcotic painkiller oxycontin, its manufacturer, Purdue pharma, claimed that it was unlikely to lead to drug addiction or abuse. Internal company docs. showed that the drug was addictive but decided to sell it anyway. They are only rules that a company sets and can enforce.
