When analysing markets, a range of assumptions are made about the rationality of economic agents involved in the transactions
The Wealth of Nations was written in 1776
Rational
(in classical economic theory) economic agents are able to consider the outcome of their choices and recognise the net benefits of each one
Rational agents will select the choice which presents the highest benefits
Consumers act rationally by
Maximising their utility
Producers act rationally by
Selling goods/services in a way that maximises their profits
Workers act rationally by
Balancing welfare at work with consideration of both pay and benefits
Governments act rationally by
Placing the interests of the people they serve first in order to maximise their welfare
Rationality in classical economic theory is a flawed assumption as people usually don't act rationally
Marginal utility
The additional utility (satisfaction) gained from the consumption of an additional product
If you add up marginal utility for each unit you get total utility
Ethics or morality poses questions about how we ought to act and how we should live
Ethics is an inquiry into the justification of particular actions (are these actions right or wrong?), as well as a search for traits of moral character that promote human flourishing
Recognizing ethical/moral issues
Is there a conflict at the personal, inter-personal, institutional, or societal level?
Is there a question that arises either at the level of thought or of feeling?
Does the question have a moral or ethical component? Why? (e.g. does it raise issues of rights, moral character, etc.)
Beginning decision making
What are the relevant facts of the case?
Whose (or what) interests are at stake?
What alternative actions are available?
What would other persons of good judgement think of your list of alternatives?
Ethical theories or approaches
Used in various different situations to provide systematic answers to ethical and moral issues
Like a toolkit for dealing with moral and ethical issues
Moral Relativism
What is morally right or wrong depends on the prevailing view in the society or culture we happen to be dealing with
Moral Relativism is often presented as a tolerant view: 'if moral relativism is true, no one has a right to force his moral views on others'
Arguments against Moral Relativism
The 'Cultural Differences' Argument: There are significant differences in moral beliefs from culture to culture and era to era, therefore there is no objective fact as to which of these beliefs is correct, morality is relative
Idealist Approach
Standards of goodness, truth, and beauty do exist and can be discovered by reason and known at the deepest core of one's being
Which alternative is most consistent with one's own ideals of truth and goodness?
Is the choice consistent with one's deepest self, or just giving in to superficial attractions?
Is the choice consistent with the harmony and good order of the world, or does it lead to confusion and unreliability?
Justice Approach
Which alternative best treats all parties in a fair, just or reasonable manner?
Are all treated in the same way (e.g. "equals, equally and unequals, unequally") by an action or is there favouritism or discrimination?
Virtues Approach
Virtues are desirable habits or ideals which once acquired become characteristic of a person
Which alternative would help develop and maintain valuable traits of character (e.g. courage, compassion, honesty or integrity)?
Alternatively we can observe what the good person does, or ask a good person what they would do
Natural Law Approach
Which action is most compatible with the nature of the human person as can be understood by human reason?
A more modern approach focuses on what befits human persons, rather than abstract human nature, requiring critical reflection on past and present experience and the needs of people today
Again, the important questions are "What sort of person should I be?" or "what is the purpose of human life / my life" rather than "What should I do?"
Which action is most compatible with the flourishing of human persons today as can be understood by reason, experience and the social sciences?
Categorical Imperative
Which alternative would make a good general rule for all people to follow in similar situations? Would the freedom and respect due to all be respected?
Which alternative is treating people as ends rather than as means?
Rights Approach
Which alternative best respects and protects the moral rights of persons to choose freely what they will do with their lives?
Which alternative treats people as objects to be manipulated; as means rather than ends?
Utilitarian Approach
What benefits or harms will possible courses of action produce?
Which alternative would lead to the best overall consequences, the greatest happiness for the greatest number?
"Rule Utilitarianism" overcame some irrationalities in utilitarianism by asking if an action were to be made a general rule, would it lead to the greatest happiness for the greatest number
Pragmatic Approach
Since only change exists, there are no permanent values, only present problems to be solved
Which action works most efficiently to solve the problem at hand?
Does the solution enhance social order in a democratic society?
Existential Approach
We are completely free to determine our own set of values to give meaning to an otherwise absurd human existence
Because we are totally free, we are also fully responsible for all our actions
Does this action oppose forces in society which tend to undermine human freedom?
In this action am I exercising my freedom and accepting full responsibility for my actions?
Common Good Approach
The common good is a certain state of affairs (e.g. social policies) which is used equally to everyone's advantage
This approach seeks to produce a desirable kind of society
Which alternative best promotes the kind of society which will be equally beneficial to all?
Social Justice Approach
Which alternative considers most the welfare and human flourishing of those people in our world who are poor, sick, suffering, imprisoned, or in any way distressed?
Will any alternative only serve to increase the gap between the rich and the poor, the haves and the have-nots, the weak and the strong, the free and the imprisoned?
Which alternative helps one to live in solidarity with the poor, "living simply, so that others can simply live"
In which alternative does one's concern for the poor most clearly project the image of God in which one was made?
Psychological Approach
Which alternative is most in accord with the deepest desires of one's heart/soul/self/conscience?
How life-giving for persons is this choice?
How are people being set free to be themselves?
How is the whole of the person (not just the rational) being respected?
To what extent is one personally committed to this alternative, and not just obeying laws imposed on them?
Make a decision
1. After considering these various ethical theories and approaches, determine which of the alternative actions would be the best
2. What would other persons of good judgement think of the justification of the decision?
Consider the action in retrospect
1. Was the action - and its results for others as well as one's own ethical/moral character - the best action?
2. What do other persons of good judgement think of the action and its results in retrospect?
Living an ethical life
Did I practice any virtues today?
Did I do more good than harm today?
Did I treat people with dignity and respect today
Was I fair and just today?
Was my community better because I was in it?
Ethical theories or approaches discussed
Moral Relativism
Idealist Approach
Justice Approach
Virtues Approach
Natural Law Approach
Categorical Imperative
Rights Approach
Utilitarian Approach
Pragmatic Approach
Existential Approach
Common-good Approach
Social Justice Approach
Psychological Approach
Computing Problems
Problems created by computers are a result of hardware and software malfunctions or intentional misuse by human beings
Social problems created by computing problems
Computer crime
Software theft
Hacking
The creation of viruses
Invasions of privacy
Overreliance on intelligent machines
Workplace stress
Ethics
Principles of right and wrong that individuals, acting as free moral agents, use to make choices to guide their behaviors
Information systems, computing technology and ethics
They raise new ethical questions because they create opportunities for intense social change, threatening existing distributions of power, money, rights, and obligations
They create opportunities for new kinds of crime
Model for thinking about ethical, social, political issues
Society as a calm pond, IT as rock dropped in pond, creating ripples of new situations not covered by old rules
Social and political institutions cannot respond overnight to these ripples - it may take years to develop etiquette, expectations, laws