Question

In: Economics

I need to know how to make an ethical decision in detail?

I need to know how to make an ethical decision in detail?

Solutions

Expert Solution

Ethical judgments may be

  • Obligatory
  • Supererogatory
  • Impermissible
  • Permissible

Field of ethics may be

  • Meta-ethics - nature of right and good
  • Normative-ethics - standards and principles of right or good
  • Applied-ethics - application of ethical principles

Ethical decision-making process

  • Gather facts
  • Define ethical issues; consider long-term and short-term goals
  • Identify stakeholders
  • Identify the consequences
  • Identify the principles, rights, justice
  • Consider character and integrity
  • Think about potential actions
  • Choose one of the approaches - utilitarian, rights-based, common-good, fairness or justice, or virtue approach
  • Check your gut and test your decision
  • Decide on the ethical action
  • Prepare to deal with arguments

3 Frameworks for Ethical decision-making processes

Consequentialist

Duty

Virtue

Deliberative process

What kind of outcomes should the decision maker produce (or try to produce)?

What are the obligations in this situation, and what are the things I should never do?

What kind of person should I be (or try to be), and what will my actions show about my character?

Focus

Directs attention to the future influence of an action, for all people who will be indirectly or directly affected by the action.

Directs attention to the duties that exist prior to the situation and determines obligations.

Attempts to discern character traits (virtues and vices) that are, or could be, motivating the people involved in the situation.

Definition of Ethical Conduct

Ethical conduct is the action that will achieve the best consequences.

Ethical conduct involves always doing the right thing: never failing to do one's duty.

A fully virtuous person would ethical conduct in the circumstances.

Motivation

Aim is to produce the best.

The aim is to perform the right action.

The aim is to develop one’s character.


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