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I wanted to contrast the position of ethics with stakeholders on the topic of the communities of India
with the weaving industry. I believe that Freemans response on this situation would be that the
government was doing the right thing ethically by keeping the old tradition methods of weaving alive.
For example, the some of the stakeholders in this situation (the employees) are now happy because
they get to keep their jobs and keep making money and spending it within the economy. But in reality
now their communities are not technologically advanced or improving at all because progress is being
hindered by the government protection. Freidman's view point on this would be that new methods
should replace the old and I agree with that. If the technology improves on weaving then it can produce
quicker with better quality and with less workers. Now some worker that was in a weaving hut the
entire day can go out and build better skills or use their potential somewhere else where they could be
great and benefit the economy and their communities better. Having a worker get fired only to maybe
go get and education for another job and possibly be a doctor sounds more ethical and beneficial than
feeding money from taxes into a dying industry like life support. I've seen multiple reviews and articles
on Freidman's approach to ethics is that he doesn't care and just wants money. Friedman is simply
looking at things in the long run and how it will benefit all stakeholders as a whole. Freeman on the
other hand in the Stakeholder Theory video wants companies and businesses to think of stakeholders as
individuals with wives and kids, but that's not going to work out well I think. It leads to people making
mistakes like the government choices in India because they don't want to lay off a single mother of
three children that can't keep up with advancements in her industry. Instead of thinking of each
individual person we should look at each group as a whole in order to still have that stakeholder theory
feel of ethics but not too such a large extent. Customers want cheaper products with better quality and
workers want to get paid more and work less. In the end a society will benefit great from Friedman's
position on making ethical choices off emotion for your stakeholders than Freemans position on the
topic.
