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Flashcards in Lecture 4 Deck (10)
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1
Q

What are ethical theories

A

Rules and principles that determine right and wrong for any given situation

Normative ethical theories are those that prescribe the morally correct way of acting

Descriptive ethical theories seek to describe how ethics decisions are actually made in business

2
Q

What are non consequentialist ethical theories

A

What kind of principles we base a decision on

3
Q

What are consequentialist ethical theories

A

What kind of consequences our decisions will have

4
Q

What is smiths theory of ethical egoism

A

An action is morally right if either the decision maker freely decides to pursue either their short term desires or long term interests

Adam smith pursuit of individual interest is morally acceptable because the invisible hand of the market creates benefit for all
Relies free competition and good information

Difference between selfishness and ethical egoism selfish always act in own interests
Egoism - may want to benefit others before yourself

5
Q

What is utilitarianism

A

An action is morally right if it results in the greatest amount of good for the greatest number of people

Based on cost benefit analysis

E.g assassination of hitler
Animal testing

6
Q

What are the two problems associated with utilitarianism

A

Subjectivity and issues around quantification and distribution of utility

7
Q

What is rule utilitarianism

A

Asks whether the underlying principles of an action produce more pleasure than pain for society in the long run

8
Q

What is act utilitarianism?

A

Single actions- moral judgements based on the amount of pleasure and pain the single action causes

9
Q

What is ethics of duties

A

Categorical imperative

Maxim 1 consistency-
Act according to that maxim by which you can at the same time will that it should become universal law

Maxim 2 human dignity
Act so that you treat humanity, always as and end and never as a means

Maxim 3 universality
Act so that the will through it’s maxims could regard itself at the same time as universally law giving

10
Q

What are the three problems with ethics of duties

A

Undervaluing outcomes
Complexity
Misplaced optimism