The focus of this paper is on Amartya Sen's viewpoints as outlined in his work "Does Business Ethics Make Economic Sense". The initial discussion will revolve around the distinctions between private and public goods.
This article delves into Amartya Sen's viewpoint regarding the correlation of production organization and performance. According to Sen, a private good is considered "complete and exclusive," implying that only one person can utilize it at any given moment, such as a pair of shoes.
Sen defines a public good as something that can be used or consumed by an individual without preventing others from doing so. An example of this is a bacteria-free environment, which supplies fresh air to all who enjoy it. Sen also
...maintains that production and organizational difficulties do not have a significant impact on public goods.
Although there may be failures in resource allocation concerning public goods or externalities, these are not rendered irrelevant. It is important to recognize that public goods remain inherent. Additionally, production may incur numerous costs that are impractical, and the contributions of workers may be undervalued despite their significant role in the success of the business. However, it is crucial to acknowledge that significant public goods can still exist and benefit everyone involved in the business's achievements.
Sen's opinion is that viewing a business's prosperity as a benefit to the general public is reasonable.
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