Business Ethics Chapter 3 Velasquez Overview Students Will Encounter Variety Theories And Methodologies

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Velasquez Chapter 3

Chapter Overview

In chapter 3, students will encounter a variety of theories and methodologies aimed at exploring

the ethical implications of globalization and trade. Beginning with a study of globalization’s

impacts on overall business structures and methodologies, student learning will progress toward

examining individual theorists and philosophical approaches to market systems. Students will

In-and-Out of Class Activities

Reflective Response

1. How might you explain the benefits and risks of Ricardo’s comparative advantage

methodology to an individual who is unfamiliar with philosophy or marketing theories? Be

2. In a utilitarian approach, policies and laws focus on the “greatest good for the greatest

number.” Do you feel there are instances in which we may do what is best for the majority while

harming, or at the expense of, the minority? Give a specific example that relates to the business

3. Do you feel that the government has an ethical responsibility to regulate access to, and

distribution of, lifesaving pharmaceuticals? Use specific examples of the ideas provided by

Group & Team Collaboration

1. Karl Marx evaluates market systems based on social injustice and the oppression of the

working class. In teams of three, choose a specific modern technology to explore. Using the main

2. In teams of four, stage a mock debate to explore how John Locke and Karl Marx would

disagree on the issue of intellectual property. With your instructor as the timekeeper, each team

3. Imagine that a breakthrough new medicine has just been formulated to cure a major disease

epidemic. Considering the various ethical approaches to marketing and distribution of products,

Intellectual Discussion

1. Lecture Point: Philosophical perspectives of international free trade

Questions to Ask Students: What types of arguments do theorists use in the justification

of international free trade? Do you note any potential shortcomings of these arguments?

Why or why not?

2. Lecture Point: The ethical implications of commodity markets

Questions to Ask Students: Does a utilitarian approach support or refute the

commodification of human organs in the national or international market? In what ways

might technology, such as 3D printing, further impact this issue?

Online Alternative: Discuss whether or not a utilitarian approach supports the

commodification of human organs in the national or international market. Locate a video

clip that demonstrates a specific form of technology impacting the human organ market.

3. Lecture Point: Social Darwinism in the Free Market Approach

Questions to Ask Students: Some theorists, such as Spencer, argue in support of free

market systems in order to promote survival and prosperity of the strongest individuals

and businesses. Do you feel that social Darwinism leads to a stronger society? What are

the ethical implications of a hands-off system that provides no government intervention

to those in economic need?