Business Ethics

Term Ethics	Definition the philosophical study of moral values and rules
Term Argument	Definition An argument is a set of statements where at least one of those statements is claimed to be supported in a rational way by the others.
Term Conclusion	Definition An argument's conclusion is the statement that the rest of the statements in the argument are claimed to support.
Term Premise	Definition A premise is one of the statements given in support of an argument's conclusion. In an argument, the premises, taken together, are claimed to support the conclusion.
Term Valid	Definition In a valid argument, the truth of the argument's premises would guarantee that the argument's conclusion is true.
Term Sound	Definition A sound argument is an argument that (1) is valid, and (2) is such that all of its premises are true.
Term Fallacy	Definition A fallacy is an error or defect in reasoning.
Term Relativism	Definition In ethics, relativism is the view that all moral claims (like "Murder is wrong," for instance) are true or false relative to a particular person, perspective, culture, set of beliefs, etc. There are no "absolutely" true or false moral claims.
Term Egoism	Definition According to ethical egoism, how one ought to act is determined only by what is good for oneself, or by what is in one's own self-interest.
Term Consequentialism	Definition According to consequentialism, how one ought to act is determined by the future consequences of one's actions.
Term Deontological	Definition A deontological ethical theory is one based on duty. (The term means the same as 'duty-based'.) How one ought to act is governed by one's duties, and acting in a way inconsistent with one's duties is morally wrong.
Term Normative Claims	Definition How the world ought to be.
Term Descriptive Claims	Definition How the world happens to be.
Term Normative or Descriptive? 1. Millions of people died during World War II. 2. Israel’s bombing and invasion of Lebanon has killed over a thousand people. 3. It was morally acceptable for Israel to invade Lebanon. 4. Some people believe it was morally a	Definition 1.D 2.D 3.N 4.D 5.N 6.D 7.D 8.D 9.N 10.N
Term Valid? Sound? (P1) If today is Tuesday, then I’ll go to the beach today. (P2) Today is Tuesday. _______________ (C) I’ll go to the beach today.	Definition 1. Valid 2. Sound if today is tuesday.
Term Valid? Sound? (P1) If Dennis is Satan, then everyone in PHIL 318 will fail. (P2) Dennis is Satan. _______________ (C) Everyone in PHIL 318 will fail.	Definition - Valid but not sound
Term Valid? Sound? (P1) A corporation has the right to use its property as it sees fit. (P2) The employees of a corporation are the property of that corporation. _______________ (C) A corporation may treat its employees as it sees fit.	Definition - Valid but not sound
Term Valid? Sound? (P1) Killing a person is morally wrong. (P2) A fetus is a person. (P3) Abortion is the act of killing a fetus. _______________ (C) Abortion is morally wrong.	Definition - Valid but not sound
Term If an argument is such that… …the truth of its premises would guarantee that its conclusion is true,	Definition - Valid
Term If an argument is such that… …the truth of its premises would	Definition - Invalid
Term Arguments for moral theorie	Definition These are arguments in favor of general views on the nature of morality itself—views on what it is that makes something morally right or morally wrong.
Term Arguments for specific normative claims	Definition These are arguments in favor of specific claims concerning the moral status of something or other—that something is morally right or wrong, or that something is morally acceptable or not.
Term The is/ought fallacy	Definition • [Uttered in the South in the 1830’s] “Slavery is the way things are, so that’s the way things ought to be.” • Lots of people share insider information. So there’s nothing wrong with insider trading. • Energy companies manipulate electricity markets all the time. They’ve been doing it for years. So there’s nothing wrong with it.
Term The legalistic fallacy	Definition • Lying isn’t illegal. So lying isn’t morally wrong. • None of the executives from Arthur Andersen have been convicted of any crimes with respect to the Enron scandal. So, they didn’t do anything morally wrong in that case.
Term The slippery slope fallacy	Definition • Don’t start drinking coffee. If you start drinking coffee, soon you’ll start smoking, since nicotine and caffeine are similar in chemical composition. But smoking cigarettes can lead to smoking marijuana. Marijuana is a gateway drug, and can lead to heavier drug use of things like cocaine and LSD. Those drugs wreck people’s lives, and such drug users often wind up in prison. If you don’t want to wind up in prison with your life wrecked, don’t start drinking coffee. • If we accept any sort of mercy killing, we will have stepped onto a “slippery slope” down which we will inevitably slide, and in the end all life will be held cheap. Where will we draw the line? If Tracy Latimer’s life is not worth protecting, what about other disabled people? What about the elderly, the infirm, and other “useless” members of society (Rachels, EMP Ch. 1, p. 10)?
Term Ethical relativism	Definition Ethical relativism -- the (non-normative) view that ethical claims are true only relative to a particular culture, perspective, set of beliefs, etc. On this view, there are no absolute truths about ethical matters.
Term Ethical absolutism	Definition Ethical absolutism—the view that ethical claims are true independently of particular cultures, perspectives, sets of beliefs, etc. On this view, there are absolute truths about ethical matters.
Term Cultural relativism	Definition Cultural relativism—the (normative) view that how one ought to act is determined by one’s own culture or community’s views on how one ought to act.
Term Arguments for ethical relativism Argument 1: The argument from differences of opinion (or the argument from cultural differences).	Definition (P1) There are different communities of human beings, and there are differences between those communities with respect to what is believed about how one ought to act. (e.g., the Callatians and the Greeks) _______________ (C) There are no absolute truths of morality—all moral truths are true relative to particular cultures or perspectives.
Term Arguments for ethical relativism Argument 2: The argument from tolerance	Definition (P1) One ought to be tolerant of the views of other people, and of other communities. (P2) Being tolerant requires that some form of ethical relativism is true. _______________ (C) Some form of ethical relativism is true.
Term Ethical egoism	Definition One ought to pursue one’s own self-interest exclusively.