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Business Ethics

Teacher: Lynne Basco
Horizontales
An economic system where people compete to make a profit and the ownership of the means of production (resources and machines) are mainly owned by "the private sector" rather than the government
The body of judge-made law that first developed in the English-speaking world centuries ago.
A right is an entitlement to act or have others act in a certain way.
Situations involving conflict between ethical principles or normative priorities
the use of force or violence intended to persuade people to behave in a certain way.
An economic system where the means of production are primarily owned and controlled by the government (or communities) rather than by private interest.
Happens when pressure for unanimity within a highly cohesive group overwhelms its members' desire or ability to appraise the situation realisically and consider alternative courses of action.
A "laissez-faire" or "hands off" approach to economics.
Goods that are relevent for our well being. This includes wealth, food, status, opportunities, and rights.
Subsidies (money and resources) given to corporatoins from the government
Norms of correct conduct in polite society.
An obligation that can be overridden by a more important obligation.
Behavior that is of serious consequence to human welfare
Verticales
The moral theory that we should act in ways that produce the most pleasure or happiness (and least amout of suffering for the greatest number of people affected by our actions.
Are derived from special relationships, roles, or circumstances.
The force that moves a free market in mutually beneficial ways.
Natural moral rights, such as a right to property and noninjury.
The view that morality coincides with the self-interest of oneself or an organization one is part of
An economy without government interference (other than to protect people's property, contracts, and right to noninjury).
Tax breaks, resources, and money given by the government (or other organizations).
The view that equates morality with self-interest.
The view that pleasure is the only thing that is good in itself, that it is the ultimate good.
Becoming a stranger to humanity-one's own humanity and the humanity of others.