WEEK 3: EGOISM, UTILITARIANISM, AND COST-BENEFIT ANALYSIS

Preparation: At the beginning of class students will need to submit a one-page summary of the following readings:   Hoffman, D. (2004) ‘The Ford Pinto’, in Gini, A. (ed.) Case Studies in Business Ethics (5th edn.), Upper Saddle River, NJ: Pearson Prentice Hall, pp. 222 - 228. Kelman, S. ‘Cost-Benefit Analysis: An Ethical Critique’ and Leonard, H. & Zeckhauser, R. ‘Cost-Benefit Analysis Defended’ in Hoffman et al. (2001) Business Ethics: Readings and Cases in Corporate Morality, New York: McGraw-Hill, pp 104-116.

Class Discussion:

A. Egoism  Rank the following virtues in the order of the importance you think should be placed on them: rationality, integrity, honesty (with self and others), justice, independence, productiveness, pride, kindness, charity, generosity, forgiveness, self-sacrifice.      What is egoism? What is the difference between psychological egoism and ethical egoism? Do you think egoism can actually be ethical? Why or why not? How is enlightened egoism different from other kinds of egoism? How might they differ in the kinds of behaviours they recommend? Some egoists, such as Ayn Rand, define ethically egoistic behaviour as that which will maximise one’s interests over the course of one’s lifetime. Would this influence the kinds of behaviour that this doctrine recommends? Will it recommend different behaviour than that which is generally considered ethical? Think of some of the business organisations discussed in our previous tutorials, in the context of financial success and its relationship with ethical conduct. Would their behaviour be considered egoistic? Are there differences between their successes and failures, between those perceived as ethical and those deemed unethical? Are there good reasons for duties to others?







If you passed a drowning child, and