Question

ETHICS Suppose that, while waiting in line at the grocery store, you overhear a stranger saying that the FDA is going to approve a new drug tomorrow—one that will be a huge success for Alpha Pharmaceuticals. Is it legal for you to buy stock in Alpha? Is it ethical? What would Kant and Mill say?

Answer 1

Note: This response is in UK English, please paste the response to MS Word and you should be able to spot discrepancies easily. You may elaborate the answer based on personal views or your classwork if necessary.

(Answer) Universal Ethics: Ethics is a set of principals by which a person conducts their actions. Universal ethics are those which are common to all humans despite their segregation based on convictions, location or any other difference. Immanuel Kant was among the first to outline such ethics.

However, when one is faced with conflicting ideas, Mill’s theory of utilitarianism could be consulted. Mill’s theory suggests that an action becomes right or the one with most utility when the best means are achieved. Therefore, the duty or obligation that gains the most utility, morality or happiness should be the idea to settle with.

If purchasing stock based on a prediction of future success does not break any ethical code, then it is right according to Kant. If purchasing stock offers a certain amount of utility as opposed to not purchasing it, then it should be done according to the philosophy of Mill.