DSST Business Ethics and Society 2

Martha stewart in 2004 was sentenced to 5 months in

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Martha Stewart – in 2004 – was sentenced to 5 months in prison after being convicted of obstruction of justice, lying about a stock sale, and conspiracy a) Martha sold 4000 shares of ImClone stock, a biomedical firm owned by a family friend, one day before the stock price dropped, accused of insider trading 19) Kohlberg’s 3 levels of Moral reasoning - a) Pre-conventional – action is performed based on pleasant or unpleasant consequences of those actions a.i) Most immature person refrains from doing something wrong to avoid punishment b) Conventional (Pre-Moral )- – is the moral judgment is based on approval from family peers, etc. (few adolescents make it beyond conventional moral reasoning) b.i)Acceptance of others is most important, even if the outcome is negative (b.i.1) Fight for country, even though scared to death c) Post- conventional (Role Conformity )– in this stage others approval no longer determines morals; people reason through to their own sense of what makes an action right c.i) Right or wrong enter conscience c.ii) Self chosen ethical principles that are comprehensive, universal and consistent 20) Immanuel Kant’s Categorical Imperatives – if an action isn’t right for everyone then it’s not right for anyone a) Believed that we are subject to hypothetical and categorical imperatives (bound by categorical imperatives) a.i) One must ask themselves, the way I’m acting will everyone do the same, if yes, universal law, if no, the act is morally wrong b) Kant believed the punishment chosen should equal the crime b.i)He felt capital punishment was mandatory for murder c) Kant believed that people have dignity because they are rational agents, with intrinsic worth and should be treated with respect c.i) Example: paying child workers below the poverty line because everyone else does is morally unacceptable d) Kant believed that animals are not rational agents and hence can be used as a means to an end, with the qualification that we refrain from cruel treatment d.i)Animal cruelty according to Kant would soil our moral character and affect the way we treat others e) Kantian approach – when a company cares about the consumers, no matter what the consequences to the company’s profits 21) Social Contract – imaginary agreement entered by people who sacrifice some of their liberty in order to prevent chaos a) Thought from this time period shifted criminal justice away from state punishment and more towards human rights 22) Thomas Hobbes – 17 th century philosopher whose Social Contract Theory is based on self-interest a) Believed without government, humans would be in a state of constant war
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b) Social Contract Theory states that we entered into a social contract surrendering our natural liberties in exchange for safety from the government 23) John Stuart Mill – defines the Greatest Happiness Principle a) Holding RIGHT actions in proportion where they promote happiness and WRONG where they promote the reverse a.i) This is Mills definition of Utilitarianism 24) Rule Utilitarianism – individuals should follow the correct moral rules based on the test of total well being and where rules
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Martha Stewart in 2004 was sentenced to 5 months in prison...

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