Ethics: Normative vs Descriptive Judgments

Ethical Judgments

• Normative judgments dictate what ought to be done and establish moral standards.
• Descriptive judgments concentrate on "what is" occurring, relying on observation and evidence without making moral claims.

Arguments in Applied Philosophical Ethics

• Arguments consist of premises leading to a conclusion about ethical actions.
• Effective arguments are clear, logically structured, and relevant.
• They should address opposing views and reflect the real-world implications of ethical choices.

Moral Principles in Applied Ethics

• A moral principle is a fundamental truth guiding moral judgments.
• Moral principles shape arguments in applied ethics, offering foundational beliefs such as fairness and justice.
• They provide a framework for evaluating ethical situations and discussions.

Relationship Between Moral Principles and Moral Theories

• Moral principles are essential components of moral theories.
• They represent core beliefs that underpin ethical frameworks like utilitarianism and virtue ethics.
• Strong moral theories articulate principles and their role in ethical decision-making.

Principle of Utility

• The principle of utility is associated with utilitarianism, proposing that morally right actions yield the greatest happiness for the majority.
• It emphasizes the consequences of actions rather than intentions.

Differences Between Utilitarian and Rights-Based Ethics

• Utilitarian ethics prioritize the best overall outcomes and maximize happiness for the majority.
• Rights-based ethics, particularly Kantian ethics, focus on respecting individual rights and treating people with dignity, regardless of outcomes.

Kant's Principle of Humanity

• Kant's principle posits that individuals must be treated as ends in themselves, acknowledging their inherent worth and autonomy.

Focus of Virtue Ethics

• Virtue ethics prioritizes developing good character traits such as honesty and courage, emphasizing the moral integrity of the person.
• It contrasts with utilitarian ethics' focus on outcomes and Kantian ethics’ adherence to moral rules.

Friedman’s Argument on Business Responsibility

• Friedman argues that a business's primary responsibility is to its shareholders, advocating for profit maximization within legal and ethical boundaries.
• He believes deviating from this responsibility undermines accountability and free-market principles.

Reasons Supporting Friedman’s Conclusion

• Friedman claims that prioritizing social goals over profits can lead to resource wastage and weakened competitive advantage.
• He asserts that social responsibility belongs to individuals, not businesses, which should remain focused on their economic roles.

Friedman’s Normative Reasoning

• Using a consequentialist approach, Friedman argues that profit maximization benefits society by fostering economic growth and stability.
• He also adopts a rights-based perspective, stating executives lack the authority to allocate shareholder resources for non-mandated social purposes.

Freeman's Critique of Friedman

• Freeman contends that Friedman's position is overly simplistic, ignoring the broader impact of businesses on stakeholders beyond shareholders.
• He advocates for a more nuanced view that reflects the complexities of modern business ethics.

Managing for Stakeholders

• Freeman suggests that businesses should consider the interests of all affected parties—stakeholders, employees, customers, and communities.
• This inclusive approach encourages ethical and sustainable business practices.