Question

1. Please list and discuss three actions that a firm may take, or has taken, that are illegal, or immoral, or both. Of these actions, which one imposes the greatest harm upon society? Why? Why did you choose this action over all other possible choices?  

2. Please list and discuss at least three GRAs--- Government Regulatory Agencies. Which one GRA may be the most important, in your opinion? Why? Why did you choose this GRA over all other possible choices?  

3. Which GRA would you want to work for, in theory? Why?

4. In your opinion, why is it that very few executives ever serve jail time for "white collar" crimes?

Answer 1

1. The three most immoral actions that is seen to be widely taken by firms are

Hiring unpaid interns: Big companies hire interns without any stipend or salary

Antitrust violattions

These include competition between big companies related issues. Acquiring monopoly is one such issue

Wage theft.

There are many forms of wage theft. Employers stealing the employees' wage is one such theft

Out of these antitrust violations has the biggest impact on society. This action is the most harmful for society as its price fixing action affects the poor consumers who constitute the society.

2. (a) Consumer Product Safety Commision (CPSC)

It is an independant agency which looks into product related issues and protects the consumers.

(b) Environmetal Protection Agency (EPA)

This agency regulates the rules which is related to environmental hazards caused by a firm.

(c) Equal Employement Oppurtunity Commision (EEOC)

This commision tries to make sure everyone gets equal employement oppurtunities regardless of age,sex, caste etc.

Of these EEOC seems to be the most important as right job oppurtunities is a neccesity for the betterment of a society.

(3) I would like to work for EEOC as it has major societal influence.

(4) In my opinion white collar job employees serve less jail term as such people are usuaally influential and are likely to be helped by the important people.