On my way to the fastlane, I often have to do stuff that are strictly speaking NOT ethical.
But it's definitely 100% legal and victimless.
It bothers me sometimes (quite often, in fact). But it does not bother my father and my wife.
Economist Milton Friedman believes that as long as whatever we do maximises profit, we are doing our society some good, regardless of whether it's ethical or not.
What are your thoughts on this?
Care to provide any examples? Good ethics, in many cases, are subjective.
I dont think MF advocated ripping people off. Read one of his books, he makes sense.
I cant easily think of something that is victimless and legal that might be unethical, can you explain?
One recent example would be a friend ask me to get my employees to complete her PhD thesis for her. According to her, that would give her more time to take care of her kids and also improve her financial situation.
In my opinion, ethical dilemmas are common in certain situations.
Freedman was right and wrong. He left out the social costs of maximizing profit at all costs. What should REALLY be done is 'intersecting the maximization of profit with the lowest social cost possible so that you truly get the highest profit margin'.
As far as being victimless and legal, I'd say it's fair game. As long as you don't cause customers or potential customers any sort of hindrance.
Plus, why are you making your employees do something that isn't in their job description? That just causes problems. The victim is the employee, since they are doing something they should not have to do. Some of them may have a huge problem with it, but they'll do anything to keep their jobs. Your using their jobs to scare them into doing things they don't want to do. That's not just wrong, that's wage slavery.
I know I'm sounding like an idealist here, but that is wrong, even if the employees are getting paid extra to do it.
If you take MF too literally you start not to like him. Really, why don't I dabble in some human trafficing and start a cocaine ring? I doubt MF would advocate that.
I would like to think that by ruthlessly expanding my businesses and making money, I am providing employment and at the same time taking care of my family; provided I am not doing anything illegal.
Anyone knows why I can't 'post quick reply'?
Just a thought.
As far as Freedman is concerned, he assumes that the free market is perfect when it's obviously not (look at the housing crisis). He forgets that humans are primarily motivated by self-preservation (debatable; if you'd like to debate this keep politics and such out of it). He makes great points, but his views seem to be outdated.
Or you'll get lucky and nothing will happen. Really willing to roll the dice, there?
This thread can't be serious. Getting your employee to do someone elses homework? No, can't be serious.
College is headed that direction.
Free market economies are always at some form of equilibrium, when you change that point through ledgislation or whatnot trying to improve there is always another axis that is effected.
Easy money has driven up the price of college by an obsurd amount.
But this isn't a thread about what the free market entails, this is a thread about ethical behaviour. (Although I agree about the college thing; it's a bubble waiting to burst).
Don't do people's theses or dissertations for them anymore. That could turn into a mistake costing them tens of thousands of dollars (I don't know how much a Ph.D. costs in Australia, might be less). Next time you have an ethics problem, try posting it here to get opinions BEFORE YOU GO THROUGH WITH IT
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