Question Wk6LA2_928

To me, it really seems visible today that ethics is not something exterior to the economy, which as technical matter, could function on its own; rather, ethics is an interior principle of the economy itself, which cannot function if it does not take account of the human values of solidarity and reciprocal responsibility."

                                                                                                                                                                                           Pope Benedict XVI

Overview:

In week six we explore the future of ethical business as a direct result of globalization.  We examine the economic climate and the distribution of wealth and notion of distributive justice.  We ask the ethical question: Do businesses that own 83% of the wealth have a moral obligation to spread the wealth around?  The sub-theme is whether it is government’s role alone or through regulation of business to make the distribution less disparate.

Theme 1: The Effects of Globalization: The Role of Business in the Distribution of Wealth and Resources

The effects of globalization have created an increasingly disparate division between the distributions of wealth in the world.  The ownership of land, industry and natural resources is in the hands of large multinational corporations and the wealth of the world is in the hands of a few.  The problem of justice and economic distribution, sometimes called distributive justice is a question that faces the globe.  Main questions include: What is fair and just in the distribution of the costs and rewards of an economic system? What different principles of distribution can be used, and what are the consequences of each different scheme or principle? Should some versions of laissez–faire be adopted, or should communitarian/socialist scheme be used?  (Helpful principles to discuss, Utilitarianism, John Rawls’ Theory of Justice, Robert Noziack’s libertarianism, Adam Smith’s invisible hand, Marxist (secular) or Christian, Jewish, Islamic socialism).

Read/View:

· Credit Suisse Global Wealth Report 2016

· What Companies Control Everything?

· 10 Countries with the Most Natural Resources

· The Ethics of Redistribution.

· The Ethics of Wealth Poverty and Inequality

· The Effects of Globalization on Stakeholder Theory

· Business Ethics as Competitive Advantage for Companies in the Globalization Era

 

Subtheme: Should there be government regulation in this area and if so, how much and what?

· Distributive Justice

· Role of government in Regulating Business Ethics

· Compliance and Regulation: Johnson & Johnson

· Business Ethics: The Law of Rules

 

Theme 2: The Effects of Globalization: Cultural Relativism and Morality 

“If you should be in Rome, live in the Roman manner; if you should be elsewhere, live as they do there” 

                                                                                                                                                                                              St. Ambrose

Modern version of the quote: When in Rome do as the Romans do.

Overview:

Continuing the theme of global ethical issues facing business in the 21st century is the concern that different cultures have different values, norms, and morality. Can you expect that your morals and values should be accepted by those businesses in another country and vice versa?  The corollary question is: Can I ignore the company values and except those that are contrary to mine but acceptable in the host country?

· Ethical Relativism

· Ethical Relativism and Business

· Put Your Ethics To A Global Test

· Integrity on a Global Scale