...this rule. 2. What do economists mean by the "declining marginal utility of money"? The declining marginal utility of money means that successive additions to one’s income produce less happiness or welfare than did earlier additions. This means that as one continues to add goods and/or services, those things will begin to net less happiness. 3. Robert Nozick presents his entitlement theory as a function of three basic principles. What are these three basic principles? Nozick’s three basic principles are as follows: 1. A person who acquires a holding in accordance with the principle of justice in acquisition is entitled to the holding 2. A person who acquires a holding a accordance with the principle of justice transfer, from someone else entitled to the holding, is entitled to the holding. 3. No one is entitled to a holding except by (repeated) application of 1 and 2. 4. Two main features of John Rawls's theory of distributive justice are particularly important. What are these two features? Describe them. The two features of Rawls’s theory are as follows:...
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...1. Plato 2. Epicurus 3. Cicero 4. Aristotle 1. The topic of the proper distribution of burdens and benefits is known as 1. Distributive justice 2. Retributive justice 3. Economic welfare 4. Laissez-faire economics 1. Who made the violation of one’s moral rights the defining characteristic of injustice? 1. John Stuart Mill 2. Adam Smith 3. Karl Marx 4. Robert Nozick 1. Rawls’s theory of justice is 1. A libertarian theory 2. An egalitarian theory 3. A utilitarian theory 4. A retributivist theory 1. Justice for Mill was ultimately a matter of 1. Luck 2. Promoting social well-being 3. Property rights 4. Enforced equality 1. Brandt defends the equality of after-tax income on 1. Libertarian grounds 2. Deontological grounds 3. Utilitarian grounds 4. Egalitarian grounds 1. Libertarians assume that liberty means 1. Freedom 2. Noninterference 3. Equality 4. Liberation 1. Nozick begins with the premise that people have 1. Certain basic moral rights 2. Equality of income 3. Equality of opportunity 4. Certain basic positive rights 1. Nozick refers to the firm restrictions that rights impose as 1. Side constraints 2. Lockean constraints 3. Side bars 4. Liberty constraints 1. Nozick calls his theory of justice the 1. Welfare theory 2. Lockean theory 3. Absolute theory 4. Entitlement theory 1. Locke held that individuals are entitled to 1. The products of a welfare state 2. What they can acquire 3. What they possess ...
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...1. Plato 2. Epicurus 3. Cicero 4. Aristotle 1. The topic of the proper distribution of burdens and benefits is known as 1. Distributive justice 2. Retributive justice 3. Economic welfare 4. Laissez-faire economics 1. Who made the violation of one’s moral rights the defining characteristic of injustice? 1. John Stuart Mill 2. Adam Smith 3. Karl Marx 4. Robert Nozick 1. Rawls’s theory of justice is 1. A libertarian theory 2. An egalitarian theory 3. A utilitarian theory 4. A retributivist theory 1. Justice for Mill was ultimately a matter of 1. Luck 2. Promoting social well-being 3. Property rights 4. Enforced equality 1. Brandt defends the equality of after-tax income on 1. Libertarian grounds 2. Deontological grounds 3. Utilitarian grounds 4. Egalitarian grounds 1. Libertarians assume that liberty means 1. Freedom 2. Noninterference 3. Equality 4. Liberation 1. Nozick begins with the premise that people have 1. Certain basic moral rights 2. Equality of income 3. Equality of opportunity 4. Certain basic positive rights 1. Nozick refers to the firm restrictions that rights impose as 1. Side constraints 2. Lockean constraints 3. Side bars 4. Liberty constraints 1. Nozick calls his theory of justice the 1. Welfare theory 2. Lockean theory 3. Absolute theory 4. Entitlement theory 1. Locke held that individuals are entitled to 1. The products of a welfare state 2. What they can acquire 3. What they possess ...
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...Utilitarians measure the consequences arising from their actions, the Rule Utilitarians apply certain calculations, establishing the morality of these actions. Therefore they judge the rules by its consequences and their actions by their rules. In other words, Rule Utilitarianism is the theory that measures what is right or wrong morally based on how good or bad the consequences may be. 2. What do economists mean by the “declining marginal utility of money”? It’s just “another reason utilitarians tend to favor greater inequality of income.” (Shaw and Barry, pg.112). In simple words according to Shaw and Barry, Professor Richard Brandt, stated that our needs and wants come in order of preference. With our salary we get the things we want and most need and leave aside the items that we least need or want, giving us full pleasure for acquiring what we want and need in the first place. An addition to our income will make us get the extra stuff we least needed or wanted, making us less happy with these new additions. 3. Robert Nozick presents his entitlement theory as a function of three basic principles. What are these three basic principles? “The first principle of Nozick’s entitlement theory concerns the...
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...Journal of Business Ethics (2009) 85:147–156 DOI 10.1007/s10551-008-9934-6 Ó Springer 2008 What’s Wrong with Executive Compensation? Jared D. Harris ABSTRACT. I broadly explore the question by examining several common criticisms of CEO pay through both philosophical and empirical lenses. While some criticisms appear to be unfounded, the analysis shows not only that current compensation practices are problematic both from the standpoint of distributive justice and fairness, but also that incentive pay ultimately exacerbates the very agency problem it is purported to solve. KEY WORDS: executive compensation, distributive justice, pay disparity, incentive alignment Introduction Few academic theories have been adopted as widely as the application of agency theory (Jensen and Meckling, 1976) to the structure of executive pay in modern corporations. After prominent suggestions that the inherent conflict of interest that exists between stockholders and corporate managers – or ‘agency problem’ – could be mitigated through the structure of managerial incentives (e.g., Jensen and Murphy, 1990a), the prevalence and size of stock option grants to senior executives have expanded increasingly and substantially (Hall and Murphy, Jared D. Harris, Assistant Professor teaches both Ethics and Strategy courses in Darden’s MBA program, and a doctoral seminar on corporate governance and ethics. His research centers on the interplay between ethics and strategy, with a particular focus...
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...cases. Velasquez, Distributive Justice Rich Dead, Poor Dead Kelo vs. City of New London _____________________________________________________________________________ Distributive Justice Manuel Velasquez Questions of distributive justice arise when different people put forth conflicting claims on society's benefits and burdens and all the claims cannot be satisfied. The central cases are those where there is a scarcity of benefits such as jobs, food, housing, medical care, income, and wealth-as compared to the numbers and the desires of the people who want these goods. Or (the other side of the coin) there may be too many burdens - unpleasant work, drudgery, substandard housing, health injuries of various sorts-and not enough people willing to shoulder them. If there were enough goods to satisfy everyone's desires and enough people willing to share society's burdens, then conflicts between people would not arise and distributive justice would not be needed. When people's desires and aversions exceed the adequacy of their resources, they are forced to develop principles for allocating scarce benefits and undesirable burdens in ways that are just and that resolve the conflicts in a fair way. The development of such principles is the concern of distributive justice. The fundamental principle of distributive justice is that equals should be treated equally and unequals, unequally. More precisely, the fundamental principle of distributive justice may be expressed as...
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...R outledge Revision: Questions & Answers Jurisprudence 2011–2012 Each Routledge Q&A contains approximately 50 questions on topics commonly found on exam papers, with answer plans and comprehensive suggested answers. Each book also offers valuable advice as to how to approach and tackle exam questions and how to focus your revision effectively. New Aim Higher and Common Pitfalls boxes will also help you to identify how to go that little bit further in order to get the very best marks and highlight areas of confusion. And now there are further opportunities to hone and perfect your exam technique online. New editions publishing in 2011: Civil Liberties & Human Rights Commercial Law Company Law Constitutional & Administrative Law Contract Law Criminal Law Employment Law English Legal System Routledge Q&A series Equity & Trusts European Union Law Evidence Family Law Jurisprudence Land Law Medical Law Torts For a full listing, visit http://www.routledge.com/textbooks/revision R outledge Revision: Questions & Answers Jurisprudence 2011–2012 David Brooke Senior Lecturer in Law and Module Leader in Jurisprudence at Leeds Metropolitan University Fifth edition published 2011 by Routledge 2 Park Square, Milton Park, Abingdon, Oxon, OX14 4RN Simultaneously published in the U S A and Canada by Routledge 270 Madison Avenue, New York, NY 10016 Routledge is an imprint of the Taylor & Francis Group, an informa business This edition published in the Taylor & Francis e-Library, 2011...
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...CHAPTER SUMMARY – CHAPTER 1 – ETHICS IN THE WORLD OF BUSINESS Frequently, the ethically correct course of action is clear, and people in business act accordingly. Exceptions occur when there is uncertainty about ethical obligations in particular situations or when considerations of ethics come into conflict with the practical demands of business. In deciding on an ethical course of action, we can rely to some extent on the rules of right conduct that we employ in everyday life. However, business activity also has some features that might limit the applicability of our ordinary ethical views. One distinguishing feature of business is its economic character which can be summarized as the conduct of buyers and seller and employers and employees. A second distinguishing feature of business is that it typically takes place in organizations which is a hierarchical system of functionally defined positions designed to achieve some goal or set of goals. Because business involves economic relations and transactions that take place in markets and also in organizations, it raises ethical issues for which the ethics of everyday life has not prepared us. Decisions making occurs on several distinct levels: the level of the individual, the organization, and the business system. The level of the individual represents situations that confront them in the workplace and require them to make a decision about their own well-being. The level of the organization can be identified...
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...BUSINESS ETHICS BY SHAW TEST BANK A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=business-ethics-by-shaw-test-bank Visit Our website: http://hwsoloutions.com/ Product Description PRODUCT DESCRIPTION Business Ethics by Shaw Test Bank, Business Ethics by Shaw – Test Bank A+ Graded Chapter 1—The Nature of Morality MULTIPLE CHOICE 1. Which of the following characteristics distinguishes moral standards from other sorts of standards? a. moral standards are purely optional b. moral standards take priority over other standards, including self-interest c. moral standards cannot be justified by reasons d. moral standards must be set or validated by some authoritative body 2. Choose the statement that gives the most accurate description of etiquette: a. the rules of etiquette are a fundamental branch of morality b. conformity with the rules of etiquette is sufficient for moral conduct c. etiquette refers to a special code of social behavior or courtesy d. the rules of etiquette are backed by statutory law 3. Our relationship with the law is best described by which of the following? a. To a significant extent, law codifies a society’s customs, norms, and moral values. b. The law is a completely adequate guide to the moral standards that we should follow. c. The law makes all immoral conduct illegal. d. Violating the law is always immoral. 4. Which of the following is not one of the four basic kinds of law? a. statutes b. constitutional...
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...In Conjunction with History of Ethics Instructor: Robert Cavalier Teaching Professor Robert Cavalier received his BA from New York University and a Ph.D. in Philosophy from Duquesne University. In 1987 he joined the staff at Carnegie Mellon's Center for Design of Educational Computing (CDEC), where he became Executive Director in 1991. While at CDEC, he was also co-principal in the 1989 EDUCOM award winner for Best Humanities Software (published in 1996 by Routledge as A Right to Die? The Dax Cowart Case). He also coauthored the CD-ROM The Issue of Abortion in America (Rountledge, 1998) Dr. Cavalier was Director of CMU's Center for the Advancement of Applied Ethics and Political Philosophy from 2005-2007. He currently directs the Center's Digital Media Lab which houses Project PICOLA (Public Informed Citizen Online Assembly), and is also co-Director of Southwestern Pennsylvania Program for Deliberative Democracy. Co-Editor of Ethics in the History of Western Philosophy (St. Martin's/Macmillan, England, 1990), Editor of The Impact of the Internet on Our Moral Lives (SUNY, 2003) and other works in ethics as well as articles in educational computing, Dr. Cavalier is internationally recognized for his work in education and interactive multimedia. He was President of the "International Association for Computing and Philosophy" (2001 - 2004) and Chair of the APA Committee on Philosophy and Computers (2000-2003). Dr. Cavalier has given numerous addresses and...
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...The Wealth of Networks The Wealth of Networks How Social Production Transforms Markets and Freedom Yochai Benkler Yale University Press New Haven and London Copyright _ 2006 by Yochai Benkler. All rights reserved. Subject to the exception immediately following, this book may not be reproduced, in whole or in part, including illustrations, in any form (beyond that copying permitted by Sections 107 and 108 of the U.S. Copyright Law and except by reviewers for the public press), without written permission from the publishers. The author has made an online version of the book available under a Creative Commons Noncommercial Sharealike license; it can be accessed through the author’s website at http://www.benkler.org. Printed in the United States of America. Library of Congress Cataloging-in-Publication Data Benkler, Yochai. The wealth of networks : how social production transforms markets and freedom / Yochai Benkler. p. cm. Includes bibliographical references and index. ISBN-13: 978-0-300-11056-2 (alk. paper) ISBN-10: 0-300-11056-1 (alk. paper) 1. Information society. 2. Information networks. 3. Computer networks—Social aspects. 4. Computer networks—Economic aspects. I. Title. HM851.B457 2006 303.48'33—dc22 2005028316 A catalogue record for this book is available from the British Library. The paper in this book meets the guidelines for permanence and durability of the Committee on Production Guidelines for Book Longevity of the Council on Library Resources. 10 9 8 7 6 5 4 3 2 1...
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