Ethics in Finance

Ethics in Finance Essay example
Masters
Essay
Philosophy
Pages 8 (2008 words)
Download 0
Ethics in Finance Name Institution Introduction Ethics and morality are issues that greatly influence every person’s undertakings. Every decision that a person makes in regards to a social phenomenon is based on the principles and values that he or she upholds…

Introduction

This paper will evaluate the various ethics theories and analyze how they can be used to solve the ethical dilemma. Utilitarianism Utilitarianism ethics theory holds that the right action is the one giving the ultimate form of satisfaction for every one that is affected (Snoyenbos & James 17). It is notable that utilitarianism is a consequentialist moral theory that seeks to evaluate the outcomes of an action rather than the action itself (Van Staverin 21). According to this theory, the rightness or wrongness of an action is dependent on the general effect that the action has on the people it affects. Suffice to say, utilitarianism holds that an action cannot be judged in isolation to be good or bad. In this regard, an action is right if it produces more intrinsic good than any other action that would have been taken. For instance, utilitarianism could hold that cheating is right if it resulted in the saving of lives of people in danger. Actions are right when they maximize happiness and good for all the affected persons. One of the basic objections of the utilitarianism ethics theory is that the judgment of an act is based on its future outcomes (Singer 41). It is not possible for a person to know the precise consequences of his or her actions in the future. ...
Download paper
Not exactly what you need?

Related papers

ethics
The sense of and compliance with the principles of ethics is what makes man superior to all living creatures. The most convincing ethical system is utilitarianism. It is “probably the basic moral philosophy of most nonreligious humanists today’’ (Harris, 2002, p. 119). Utilitarianism suggests that in any situation, one should adopt that course of action that maximizes the utility for all of…
Eithcs in finance
In addition to this, we must establish what the rules of the game are and discuss ethics in business, including issues on deception and fraud. The Business Purpose The word business has a variety of meanings and could not simply be defined. Even in the Merriam- Webster online dictionary (2013), it has 10 possible meanings. Some of the few interesting descriptions of business include that it is a…
Ethics
The paper will then evaluate the relation of the first situation and then the second situation in terms of the aforementioned points of view. Later on the essay will discuss the interplay of ethical principles in both cases and how they interact with each other, and the paper will end with a conclusion that sums up the whole essay. Therefore, the paper aims to discuss the specific situations of…
Ethics
This paper evaluates the two approaches to defining “ethically bad life”: deontology and teleology. The paper examines each of the two approaches in detail and identifies which of the two can best be used to identify an “ethically bad life”. The tests the thesis that teleology and the end in question is always the most important thing but it must be done on the backdrop of absolute rules.…
Ethics
It also entails the study of common values, for example, natural or human rights, the significant equality of all human beings, obeying the laws of the land, and concern for safety and health (Singer 14). Ethics can help me live a better life. The role of ethics in the society is extremely significant because it is the basic standards and beliefs that make everything function properly. Ethics is…
Ethics
Since these duties would apply to every rational individual, ethics would prevail as individuals would be acting under universal laws that are absolute, therefore, without events of contradictions occurring (Kay, 2007). This paper will examine Maria von Herbert’s interaction with Kant as seen in the reading by Rae Langton, thus pointing out the problems, with Kantian ethics, their severity and…
Business Ethics
Besides financial losses for the business, other problems such as lawsuits and market share decrease may be witnessed (Baumhart, R. 1968). Ethical Problems Worldwide Corporate ethical issues have not been confined to the United States. 80% of companies worldwide suffered business fraud in the years between 2004 and 2007. Parmalat, a dairy company in Italy filed for bankruptcy in 2003 because of…