Flashcard maker : Lily Taylor
Two branches of ethics?
Normative ethics and Meta-ethics
3 areas of normative ethics
Theory of moral obligation, theory of moral worth, theory of non moral worth
What does meta-ethics deal with
… is a branch of analytic philosophy that explores the status, foundations, and scope of moral values, properties, and words. What are morals
What does a theory of moral obligation aim to do
duty which one owes, and which he ought to perform, but which he is not legally bound to fulfill.
What does a theory of moral worth aim to do?
…, the only thing that can be completely good is a good will. Because of this Kant would believe that the unsympathetic duty-doer is the person who has a greater moral worth. He expresses that even good acts and good things can be put to bad use.
What does a theory of non-moral worth(theory of happiness) aim to do?
…distancing happiness from morality
3 branches of business ethics?
General corporate responsibility, professional , international business
What is a business?
Legally structured entity in a polital economy owned by some entity that has a purpose of achieving a goal.
In terms if legal recognition, what are two types of business?
…unlimited and limited
Who owns a business?
Individuals or groups. Directly or indirectly. Govt can also own a business.
Govt sponsored entity
Government owned but takes public funding.
Two basic purposes of business?
For profit and non profit
What is a co-op
Owned by customers or employee
Basic risk in business?
Roughly, how many businesses are in the us?
% of businesses that hit the wall in the first 4 years
Relation between risk and reward
…higher the risk the higher potential reward
3 major tangible asset classes
Put the following in order of who gets paid off in bankruptcy liquidation: Unpaid employees;stockholders;tax agencies; bond holders;lien holders
What percentage if american businesses are small?
What is a small business?
Less than 500 employees
Small business generates what percentage of net new jobs?
Per employee, how many more patents does small business create than big business?
…16 times
What are four sources of american law?
Constitutional , statutory, regulatory , common
What are the three main branchesbof common law?
What was the first corporation.
Where did our system of common law come from?
What is the principal of stare decisis?
What are the 3 general steps in a common law case?
What are the three reasons that generally prompt a legislature to draw up statutes to govern an area of common law.
What does the principal of sovereign immunity mean in US law.
…fees cannot be sued unless in a narrow case
What is the loser pay system of case law?
Loser pays all fees
What does tort mean?
…is a civil wrong that unfairly causes someone else to suffer loss or harm resulting in legal liability for the person who commits the tortious act,
Tort law recognizes what three types of liability?
What are three common defenses against a claim of tort?
What does the principal of “ought implies can” say?
What does the principal of universalizability say?
What is the difference between consequentialist and non-consequentialist theories of moral obligation.
What is the difference between an intrinsic ( or “ultimate”) good and an extrinsic or instrumental good?
…intrinsic is good in and out of itself
Extrinsic is an intrument to get a good
What are the three broad kinds of theories of happiness?
Heroism, virtue ethics, utilitarianism.
What is the theory of hedonism?
…that pleasure should be pursued and pain should be avoided
What is the desire satisfaction theory?
What are the objective list theories?
What is ethical egoism?
…leads to most happiness(in it for themselves)
What is the difference between ethical egoism and psychological egoism?
Hobbes and Nietzsche
In modern philosophy, which two thinkers are the most associated with ethical egoism?
What is the justice problem with ethical egoism?
What are the three postulates of public choice theory?
Define moral hazard?
What is the principal/agent (agency) problem?
What two thinkers are most identified with utilitarianism?
What is act utilitarianism?
What is the justice problem with act utilitarianism?
What is rule utilitarianism?
What is the exception problem with rule utilitarianism?
What is Kant’s categorical imperative?
What is Kants ends formula?
What is the description problem with Kantian theory?
What is the justice problem with Kantian theory?
What is natural rights ethics?
If within rights
What name is most associated with modern natural rights ethics?
What is a right?
What is the harm principle?
What is the ownership problem with natural rights theory?
What is the justice problem with natural rights ethics?
What is virtue ethics?
What is a virtue?
What is Aristotle’s doctrine of golden mean( for moral virtue)?
What is the conflict problem with Virtue ethics?
What is the guidance problem with virtue ethics?

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