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Economic issues in business ethics
Economic issues in business ethics
Capitalist america in arthur miller's death of a salesman: a reconsideration
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While capitalism is prevailing in the modern society, the issue on whether an amoral profit driven capitalist system is good for the society or not has been raised. Some believe that an amoral capitalist system is the best way to organize individuals together to serve the society. However, others argue that a amoral capitalist system will harm the society instead of benefit it. In this essay, I will be presenting the view of two neoclassical economists, Ricky Griffin and Adam Smith, who support the idea on the amoral capitalism is good for the society. I will also discuss the opposing view presented by Arthur Miller that suggests a profit drive, amoral capitalist system will do harm to a society . Furthermore, I am going to compare and contrast the two view and concluded with Miller’s view Capitalism encourages business men to make profitable amoral decisions will not benefit our society.
While Griffin, Smith and Miller are holding two significantly different views, they both agree on capitalism is an amoral system. According to Griffin, profit is the only incentive for any business to operate under a capitalist system. Smith, father of capitalism, shows his understanding of amoral capitalism by saying, “We address our self, not to their humanity but to their self-love, and never talk to them of our own necessities but to their advantages. ” (Smith 119) This quote clearly illustrates that people would act out of their own interest instead of considering others under capitalism. Further, Miller compare this amoral capitalism with uncivilized animals when the character, Christ, says “This is a land of great big dogs, you don’s love a man here, out eat him! ...the world is that way...This is a zoo, a zoo!” (Miller p81) Although ...
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... still being debating. I believe capitalism forces business men to make profitable amoral decisions may not benefit our society at all. However, maybe Smith is also correct on capitalism is the best way to serve the society before other solutions appear. And with many evidences from different countries, I have to agree with Griffin and Smith that capitalism is efficient. However, I would only describe capitalism as an insensitive, bloody, efficiently machine that does not have feel and moral. The core of capitalism is still profit driven, materialistic, and money. “money money money money, when you said it long enough it doesn’t mean anything.”(Miller p73) How important is efficiency and profits, when it does not bring joy and happiness to our society. How can we be well off without compassion, moral value, sympathy and all that feeling that make us as human being.
...he strongest arguments against capitalism is the quote “It was a monster devouring with a thousand mouths, trampling with a thousand hoofs; it was the Great Butcher – it was the spirit of Capitalism made flesh.”(334), the description of monster depicts capitalism as barbaric instead of those under the influence of capitalism being barbaric. This quote lends itself to the idea that people must fight for what they believe in, the parallel between capitalism and trampling hoofs alludes to the idea that without fighting a man could simply be stomped out.
In The Human Condition, by Hannah Arendt, the fundamental qualities of human behavior are described and analyzed. These qualities are first described by discussing the different entities present in the lives of Athenian Greeks. This partition of human life into separate units is supposed to be applied to modern American society as well, however, the structure of today's social order differs from that of ancient Greek. These disparities cause the analysis and ideas projected on the human condition to be contrasting as well.
First, what is capitalism? And why it is good and why it is bad. Capitalism is all about efficiency and get things done. “Capital” by itself means own, operation and trade for making benefits with the most efficient way. Capitalism focuses more on emphasizing on individual profits rather than on workers or society as a whole. Capitalism provides free-market that produces the best economic outcome for society. Furthermore, capitalism is not friendly for lazy and laid back people because in order to live in the capitalist society, people need to work very hard in order to survive. However, capitalism will compensate well for people who are working hard and give contributions to the society. That is its good side. Capitalism is a form of political society ...
The richest of humanity see the most of improvements, and the poorest of humanity see the least of these improvements. Through capitalism the world has changed tremendously in a short amount of time. A host of new technology has been innovated, especially in the last 100 years. Humanity as a whole is much better off than it was before. As an example, most of us are able to take an airplane to travel from one country to another in one day or have fairly easy access to advanced health care. In a word, like Bill Gates said in his article “How to Fix Capitalism”, “Capitalism has improved the lives of billions of people- something that’s easy to forget”(Gates). But, it is not getting better fast enough, and it is not getting better for everyone. A multitude of people live on less than a dollar a day and it can be extremely hard for a person in such a situation to drag themselves out of poverty without help from others. Capitalism has the ability to harness self-interest in a helpful and sustainable way but only on beh...
As stated earlier in the essay, capitalism is much more of a social issue, therefore much more of the responsibilities that are put upon me, as an adult, will deal with the community. Karl Marx indicated in The Communist Manifesto what happens to all the money that we work to gain. Once we get paid, a majority of the money we earned goes to rent, food, bills, etc. (para. 40). He shows his understanding, and attempts sharing it with the reader, that everything we do is socially based; our money goes back to different parts of the community. This may sound exaggerated, but David Harsanyi expresses the how the world is run in a simple quote from his article, “We live in a world shaped by capitalism…these ethics are ones that rule our society,” (Harsanyi). Everything we do is connected to the community in one way or another. We pay taxes, which go back to society; there are bills we have to pay, which are linked to the community. Craig A. Lockard, heard from previously on his thoughts about capitalism, speaks about how it is related to society and the individual, “Capitalism as not just an economic practice but a cultural practice…it requires change in how people think and act,” (Lockard). The understanding is that capitalism is something that takes all the individuals of the community to make work, and is connected to the life of the
To begin, capitalism is the economic ideology that everything is primarily focused towards making profit through the production and distribution of a product. In the article “Capitalism: Where Do We Come From?” By Robert Heilbroner and Lester Thurow, they provide insight on how capitalism has changed over the years and the impact it now has in today’s society. “There were no factors of production before capitalism. Of course, human labour, nature’s gift of land and natural resources, and the artifacts of society have always existed. But labour, land, and capital were not commodities for
To begin, capitalism is the economic ideology that everything is primarily focused towards making profit through the production and distribution of a product. In the article “Capitalism: Where Do We Come From?” By Robert Heilbroner and Lester Thurow, they provide insight on how capitalism has changed over the years and the impact it now has in today’s society. “There were no factors of production before capitalism. Of course, human labour, nature’s gift of land and natural resources, and the artifacts of society have always existed. But labour, land, and capital were not commodities for sale” (Para,17). Capitalism has an impact in my life because in the 21st century children are taught in school skills that will benefit businesses, so that they can continue to make a profit through the production and distribution
Capitalism is an economic system where people and private businesses are able to control their own trade and means of production for profit. It emerged as technology, production and trade began to increase. During the industrial revolution, capitalism started to influence people more. Some characteristics of capitalism are capital accumulation, competitive markets and wage labor. The government isn’t supposed to interfere with trade. Individual markets raise or lower their prices due to competition and demand for goods. There has been a lot of debate over the usefulness of capitalism. Some believed capitalism had negative effects while others saw more benefits. Adam Smith and Andrew Carnegie pushed for a capitalistic society, but had different beliefs on how economic wealth should be distributed; Karl Marx advocated for a communistic society where wealth was evenly distributed.
Marx is able to demonstrate the consequences that result from transforming values into productions suited for profit, as he writes, “This boundless greed after riches, this passionate chase after exchange-value is common to the capitalist and the miser; but while the miser is merely a capitalist gone mad, the capitalist is a rational miser” (Marx 63). There is no sense of abhorrence for a particular individual in Marx’s interpretation of capitalism and instead focuses on the capitalistic economic structure. However, it is through this quote that a sense of inequality starts to emerge. As a result, a hierarchy is produced, creating an enduring structure of capitalism, where those who control the circulation of money are granted unlimited power. This has become evident in recent years, as in 2008, a social power analysis by Dr. John S. Atlee and Tom Atlee was published. In “Democracy: A Social Power Analysis” Altlee describes the power of money and status as he states, “People with lots of money, muscle, status, intelligence, etc., can usually successfully influence other people. In most (but, significantly, not all) circumstances, they have more social power” (Atlee). Economic power is proven to be pivotal in attaining another individual’s attention and status of capability. Thus, the capitalist is free to develop their own sense of
The essential nature of capitalism is social harmony through the pursuit of self interest. Under capitalism, the individuals pursuit of his own economic self interest simultaneously benefits the economic self interest of all others. In allowing each individual to act unhampered by government regulations, capitalism causes inventions, prosperity and ideas to be created in the most efficient manner possible which ultimately raises the standard of living, increasing opportunities and makes available an ever growing supply of products for everyone.
Lynn Harsh (Nov. 2002). ‘Capitalism – A Deal with the Devil?’. Retrieved on Mar. 23 from:
Capitalism dominates the world today. Known as a system to create wealth, capitalism’s main purpose is to increase profits through land, labor and free market. It is a replacement of feudalism and slavery. It promises to provide equality and increases living standards through equal exchanges, technological innovations and mass productions. However, taking a look at the global economy today, one can clearly see the disparity between developed and developing countries, and the persistence of poverty throughout the world despite the existence of abundant wealth. This modern issue was predicted and explained a hundred and fifty years ago in Karl Marx’s Capital.
Capitalism is an economic system in which the production and distribution are privately owned, the government involvement is minimal,and there is free enterprise. In Capitalism, the means of production are privately owned and operated for profit in a competitive market. Also the economic investment, ownership and profits are all owned by individuals. Under capitalism the state is separated from the economy, which means that the government has no role in business. In other words, everyone works for themselves. The market forces in a capitalist country runs by supply and demand which it determines the price and later on it turns into profits. Supply is the quantity of goods and services a business is willing to sell, while Demand is the quantity of goods and services consumers are willing to buy. Therefore, Capitalism is the best economic system because it rewards the ones that work hard and since the government does not control trade, there is a large variety of goods and creates options for consumers to fit their personal needs.
... do not co-operate with each other, they become dysfunctional for society and can cause different social problems that led the society toward destruction. Capitalism is a modern economic system, which leave the world upset. The imperative factor of capitalist society is accumulation of wealth that results in converting money into the divine force and diminishes the value of human, morals, and values that distinguish us from animals. The drive for capital cause necessities to turn into commodities, so that, capitalists can make more capital to invest. Thus, the contribution of capitalism can be positive for those who only concern profit but not for the society because it only enhance the materialistic life and weaken the soul that teaches us ethics and morality.
It is this notion which gives the capitalists the opportunity and the means to exploit people in the society, through their wants and needs for an easy, nonchalant lifestyle. The problem arises when we start seeing these capitalists as saviors - as rescuers, and sometimes even incarnations of God - who save the people under them, from the hardened, miserable, and volatile life which they may have lead otherwise. It is at this moment where we commit our biggest mistake: put in our trust, faith and our life in the hands of these capitalists. They hardwire such people - make them feel like a prince, where in reality all they are, are peasants being manipulated and controlled to fulfill the personal objectives of these capitalists. It is in moments like these, where a person must realize, that all these comforts - these resources, these status privileges, the capitalists trust in them - are all but ‘baits’, intricately thought of and designed to ‘lure’ an individual into the trap from which - despite tremendous efforts - if caught, it is extremely difficult to escape from. It is, in moments like these, where one must develop and possess the mental