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In: Finance

Is it ethical for tobacco companies to sell a product that is known to be addictive...

Is it ethical for tobacco companies to sell a product that is known to be addictive and a danger to the health of the user? Is it relevant that the product is legal?

What are your thoughts on the sale of marijuana, both for medicinal and recreational purposes? Should firms be allowed to use this product for revenue?

Solutions

Expert Solution

Strictly speaking, it is not ethical for tobacco companies to market products that can be addiction-forming and also carries a chance of causing cancer. However, it is a free society with every individual having the freedom to exercise their own choices. So if even after knowing the harmful effects, the product is consumed by people, then companies would market them albeit after giving appropriate warning symbols and full disclosure. In that sense, it still does not become ethical but the company is providing an opportunity to the public to exercise their choices and thus become less controversial.


The fact that selling tobacco is legal do not impact its ethical consequences.


The sale of marijuana should be legalised for both medicinal and recreational purpose since doing that would eliminate the black market. And since marijuana could possibly be less harmful than other addictive substances and also be used for medical purpose, then banning such a substance do not make sense.


The firms should be allowed to use this product to realize revenue since they are fulfilling a want of the society and that some application of this product is also to address medicinal purpose.


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