2074 Final Notes
Amartya Sen-Does Business Ethics Make Sense?
Adam Smith: we are motivated by self interest, and through the invisible hand comes free market competition. This naturally to social utility. / Butcher-brewer-baker quote demonstrates that the exchange of goods if for the benefit of both parties, without no ethics involved in the exchange. / Though competition, comes social harmony and utility. The market is a self correcting mechanism because it forces us to be truthful and honest, we should not scam people because this is not beneficial to us in the future.
Sen-Trust: Smith’s point is not entirely true. / Trust is what ultimately makes exchange works, if we do not trust others, nothing would ever het done. We may be self interested, but we
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Everyone must be able to will themselves to the same action, for example, someone needs money and borrows some, and he tells the lender he will pay them back, even though he knows he never will. This is a false Maxim, because while this concept of self-love is compatible with his own welfare, it is certainly not a universal law. / Formula of Humanity - Humanity is the only thing that is valuable in itself, and since it is of value, everyone must respect this rationality: can’t use people as a means, can’t manipulate people’s ability to think rationality, can’t exploit people, people need all the information necessary to make a rational decision. / E.g, Candy store. Kid comes into a candy store with a ten dollar bill. One owner gives him the correct change because he’s worried about the consequences, and another does because he is psychologically disposed to be honest. Neither person ahs moral worth because their reason for giving back the right change is wrong. Its is their moral duty to be honest. / Motivation that comes from character or sympathy are not good because they are things beyond our control. We are not completely in control of the characteristics we develop or are born with, se we should not be credited with actions that arise naturally. / Conclusion:1.Equal respect to all rational individuals.2.Allow people to exercise their rationality.3.Treat people as equal, autonomous agents.
Bentham: Quantitative consequentialism