Business Ethics
- Created by: Ellen Hannah
- Created on: 03-05-14 18:33
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- Business Ethics
- Business ethics considers the moral justification of economic systems + practices, the responsibilities of businesses, and rights of workers
- ARISTOTLE approved of household trading as an essential, but considered trade for profit as devoid of virtue
- SMITH + MARX
- SMITH proposed a system of political economy to reach 'perfect liberty', which meant wages determined by the market + enterprise free from government control - moral sympathy towards others
- SMITH believed - free market competition encouraged entrepreneurs + benefits would flow throughout community
- MARX opposed capitalism as system that concentrated wealth in those would owned the means of production by exploiting workers
- SMITH proposed a system of political economy to reach 'perfect liberty', which meant wages determined by the market + enterprise free from government control - moral sympathy towards others
- Christianity views:
- Bible - no theory of economics, but discusses property
- Jesus concerned with sharing wealth with poor and meeting needs
- PROTESTANT - extolled virtues of thrift + enterprise - too individualistic to provide effective criticism
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