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Ethical Principles in Business

Ethic of Care
An ethic that requires caring for the concrete well being of those particular persons with whom we have valuable close relationships, particularly those dependent on us
Ethic of Virtue
An ethic based on evaluations of the moral character of persons of groups
Cost-Benefit Analysis
A type of analysis used to determine the desirability of investing in a project by calculating whether its present and future economic benefits outweigh its present and future economic costs
Intrinsic Goods
Things that are desirable independent of any other benefits of any other benefits they may produce
Non-Economic Goods
Goods, such as life, love, freedom, equality, health, beauty, whose value is such that it cannot be measured in economic terms
Rule Utilitarianism
A form of utilitarianism that limits utilitarian analysis for evaluations of moral rules
Utilitarianism
The approach that would have the most beneficial consequences and the fewest harms
Categorical Imperative
In Kant, a moral principle that obligates everyone regardless of their desire and that is based on the idea that everyone should be treated as a free person equal to everyone else
Libertarian Philosophers
Believe that freedom from human constraints imposed by others are necessarily evil except when need to prevent the imposition of greater human constraints
Moral rights
inalienable fundamental rights to which a person is inherently entitled simply because she or he is a human being
Compensatory Justice
Requires restoring to a person what the person lost when he or she was wronged by someone
Retributive Justice
Requires fairness when blaming or punishing persons for doing wrong
Veil of Ignorance
The requirement that persons in the original position must not know particulars about themselves which might bias their choices such as their sex, race, religion, income, social status, etc.
Communitarian Ethics
An ethics that sees concrete communities and communal relationships as having a fundamental value that should be preserved and maintained
Moral Virtue
An acquired disposition that is valued as part of the character of a morally good human being and that is exhibited in the persons’s habitual behavior

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