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Introduction on Greed
Social implications of business ethics
Introduction on Greed
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When the word “greed” is used it is most often in a negative connotation describing some sort of socially unacceptable behavior. Individuals who are described as “greedy” are often considered thieves or usurpers. Yet, is greed really that bad? Is it not greed that, ultimately, motivates one to excel? In a commencement speech at the University of California-Berkeley’s School of Business Administration stock speculator Ivan Boesky declared, “Greed is all right, by the way…. I think greed is healthy” (James), could a man who seemed so successful be so very wrong? The short answer to this question is yes, greed really is that bad and although it can be the greatest of motivators towards success, ultimately when it takes the form identified below it only leads to failure as exemplified by Mr. Boesky’s conviction on insider trading charges. To more fully answer this question it is necessary to discuss what greed truly is, how it manifests itself in the business world in an economic sense and what effects it has on the market.
The Oxford English Dictionary defines greed as “Inordinate or insatiate longing, especially for wealth; avaricious or covetous desire”, in other words, constantly wanting more than what you have. This definition, however, does not offer a reason as to why greed is a bad thing. Wanting more, especially in the context of economics, is usually considered to be a desired manner of conducting oneself. Participants in a market are assumed to be “rational maximizers” in that they always choose the basket of goods or method of production that provides them with the highest levels of utility or highest profits. If it were possible for an individual to obtain a higher level of satisfaction economics expects th...
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...his may be true in the short run but certainly not in the long run. In the long run the greedy must and will pay for their avarice whether it is through a prison sentence or pain endured through a stock market crash caused by their greed. Ultimately greed is bad for society as a whole and “infectious greed”, to which Federal Reserve Chairman Alan Greenspan attributes the current business crises (James), can do a great deal of damage to an economy.
Works Cited:
Gordley, James. Good Faith and Profit Maximization.
http://www.stthomas.edu/cathstudies/cstm/antwerp/p3.htm. 11/23/02.
James, Michael S. Is Greed Ever Good?
http://abcnews.go.com/sections/business/DailyNews/greed020822.html. 11/18/02
Oxford English Dictionary Online. Oxford University Press. 11/23/02
Smith, Adam Wealth of Nations. Prometheus Books. December 1991.
It is often said that money is the root of all evil. The Robber Barons of the late 19th century proved this theory without fail. They showed that greed can overtake morals if the conditions are right. It
There is no known safe amount of alcohol a woman can drink while pregnant. Alcohol can cause life-long physical and behavioral problems in children, including fetal alcohol syndrome. FAS is a serious condition where babies can be born with mentally ill condition and may have deformation mainly in there face. When you consume alcohol during pregnancy, so does your baby, because alcohol passes freely through the placenta to your baby. If you choose to drink alcohol while you are pregnant, you will increase the risk that your baby will be born with a Fetal Alcohol Spectrum Disorder (FASD). Fetal alcohol syndrome is a condition in a child that results from alcohol exposure during the mother 's pregnancy. Fetal alcohol syndrome causes brain damage and growth problems. The problems caused by fetal alcohol syndrome vary from child to child, but defects caused by fetal alcohol syndrome are
Chudley, A., Conry, J., Cook, J., Loock, C., Rosales, T., & LeBlanc, N. (2005). Fetal Alcohol Spectrum Disorder: Canadian Guidelines for Diagnosis. Canadian Medical Association Journal, 172(5). doi:10.1503/cmaj.1040302
A mother who drinks while she is pregnant stands a high risk of harming their unborn child because the alcohol passes through her blood to her baby, and that can harm the development of the baby’s cells. This is most likely to harm the baby’s brain and spinal cord. Many of the common effects of a child suffering from fetal alcohol spectrum disorder (FASD) is: distinctive facial features, growth problems making them smaller than the average child, and learning and behavior problems.
Multiple studies have found that FAS is the single most common cause of mental retardation that is completely preventable. When alcohol is consumed during pregnancy it acts as a teratogen, which means it is a substance that interferes with growth and development, and is capable of causing birth defects such as hearing loss, vision loss, reduced cognitive ability, and motor skill deficiencies. Flattened mid-face, short nose and a thinner upper lip are also common physical abnormalities (Tangient LLC, 2014). When consumed, alcohol from the mother’s bloodstream crosses easily into the fetal bloodstream. Because of their size, the unborn baby has a lower capability to metabolize the alcohol, thus it remains in its system for a longer period of time and can result in...
In 2004, the term “Fetal Alcohol Spectrum Disorders” was agreed upon by a group of national experts to be used as an umbrella term to encompass all the disorders caused by prenatal alcohol exposure. When signs of brain damage appear following fetal alcohol exposure in the absence of other indications of FAS, the conditio...
Alcohol, also known as ethanol, is a legal substance, which causes a person to become relaxed and “care-free”. Once alcohol is consumed, it is released into the bloodstream, which causes the brain to react, causing side effects. When a woman drinks alcohol while being pregnant, it can cause some physical and mental damage to the fetus. When a fetus is affected by alcohol exposure, it is called Fetal Alcohol Spectrum Disorder (FASD). If the affects are severe, it is then termed Fetal Alcohol Syndrome (FAS). The abnormalities occur in the central nervous system, facial structure, growth, and neurobehavioral development of the child. Severity of the damage depends on the amount of consumption, frequency, and timing of the consumption (Ungerer, Knezovich and Ramsay, 2013). Approximately 1 in 100 births have FASD effects. In the United States, 2-7 out of 1000 births are affected by FAS. 2-5% of young children in the United States and Western Europe are affected by FASD, while in Italy, the rate of FASD is 20.3-40.5 per 1000 births (Riley, Infante, Warren, 2011). These results are happening because 10-20% of women in the United States, 40% in Uruguay, and 50% of Italy consume alcohol while pregnant (Valenzuela, Morton and Diaz, 2012).
This statement might be economic theory, but it also might be a theory about human nature as well. It could explain why it is, that when human beings are prohibited from having something that they want, (especially by others who feel they are superior), they will go to any length to get it.
“I brought you into this world, and I can take you out!” A child has most likely heard that phrase at some point in their life. Although, it is not ethical or legal for a mother to “take her kid out of this world”, it does bring up a good point that it was through her body, that the child was born. One of the most important responsibilities in this world is a mother carrying a child in the womb. There are many divine processes that take place during gestation, but there are also many contributing factors from the mother that can affect the developing human. These factors may include what a woman ingests and exposes her embryo or fetus to. Sadly, alcohol use during pregnancy is an ongoing problem that can have detrimental affects on the fetus, including Fetal Alcohol Syndrome (FAS). Choosing to drink alcoholic beverages during pregnancy is a choice, a risky choice. Unfortunately some women don’t even know they are making a risky choice by consuming alcohol because it is in the early stages of pregnancy. It is common for a female to not find out they are pregnant until at least the fifth or sixth week after fertilization. In 2006, 49% of all pregnancies in the United States were reported unintended on a national survey.1 The highest rate of preventable birth defects and mental retardation is due to alcohol use.2 In this paper, I will further discuss FAS, the potential effects of binge drinking during the embryonic stage of gestation, and what actions need to be taken in order to reduce the incidences of alcohol related birth defects.
When a woman is pregnant it is recommended that she does not consume any alcohol. If a woman does consume alcohol during the pregnancy she can cause a disorder called Fetal Alcohol Syndrome (Rank, J.). In 1968, Fetal Alcohol Syndrome was characterized by P. Lamoine and colleagues form Nantes. They reported their findings in the French pediatric journal but unfortunately it didn’t draw to much attention. Five years later, in 1973, it was characterized again by K.L. Jones and colleagues in Seattle. Unlike the report in 1968 that wasn’t a success, this report in the British medical journal, The Lancet, triggered a great amount of reporters of Fetal Alcohol Syndrome (Perlstein, David, MD, FAAP). The disorder is characterized by brain problems, abnormal facial features, growth defects, and organ defects (Rank, J.) Alcohol is considered a teratogen and is the most common cause of mental retardation. “According to research published in Pediatrics, alcohol use among women of childbearing age (18-44 years) constitutes a leading, preventable cause of birth defects and development disabilities in U.S.” (Perlstein, David, MD, FAAP). Even though the disorder is preventable, the defects are not irreversible or unchangeable (Mayo Clinic Staff).
"Reasons given for having abortions in the United States." Johnston Archives. Web. 27 Feb. 2014.
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.
Greed is a natural consequence of trying to get the most for the least. From the beginning, humans have been greedy to the point where now it is part of being human to be greedy. There is no person on Earth that has never been greedy and there never will be. The first person who walks this planet without having ever been greedy will no longer be human. Greed is valuable to self, to society, and to our species. Humans act like a swarm, when everyone follows their own personal interests; we appear to be following an organized pattern. From chaos a perfect order is born. An order governed solely by greed.
Greed is so powerful in a person that it has the ability to destroy them, their friends, and family relationships. I have lived in the poorest country my first nine years, so when I was adopted, my mom gave me everything I ever wanted, everything I ever needed. However, using myself as an example, I was so mesmerized of the materialistic things that were available, that I stole. I took something that was not mine because I felt greedy. I felt like I needed that object for whatever reason. My mom tore my butt when I got home and I never thought of steeling because of my own selfish need of wanting. Not to mention how greed made me afraid. It made me afraid because I knew what I did was wrong. People are constantly being bombarded with images of things that we believe will make us happy and the selfish thoughts of greed makes us wanting more. For example, the iPhone 6 Plus came out September of 2015, now there is iPhone 7 which has new camera zoom, ear pods, and better quality. However, the week before it was released, everyone talked about wanting it because it’s the new “cool” thing. However, what people fail to understand is that the reason they want
Black Friday is one of the busiest shopping days leading up to Christmas. Consumers stand in line hours if not days before the doors open. The sales begin in the early hours of the morning; typically around 5 a.m. Shoppers save hundreds of dollars on all of the latest gadgets and accessories. But, the insane deals come with a catch. Several customers and employees end up bruised, injured, and even killed during the event. Greed for the lowest price during the holiday season has led to countless fights for a discounted item. Greed is a main theme expressed throughout The Hobbit written by J.R.R Tolkien