Ethics Question 1 Pareto-Optimal State Term Paper

Pages: 3 (952 words)  ·  Bibliography Sources: 0  ·  File: .docx  ·  Level: College Senior  ·  Topic: Economics


Question 1 pareto-optimal state means that essentially no person is being needlessly left behind. For example, if a particular person's utility or usefulness to the economy or quality of life cannot be raised without reducing the utility of someone else, a society has achieved this state. In other words, if a worker can receive benefits at a company without the company having to lay off workers or deprive shareholders of income, the society is not pareto-optimal -- ideally, there must be a mechanism in place to ensure that the worker has benefits, if the owner can provide it. However, defining pareto-optimal utilization is difficult in such a model. Naturally, individuals will, always however wealthy, see any reduction in their income from taxes for benefits to be to their detriment, even if this ultimately improves their quality of life by improving public education, for example, to ensure a better educated and more productive workforce and a more competitive and thus more secure nation, from an international perspective. This is why a pareto-optimal state is not a very limited kind of success, and achieving such a definition may or may not guarantee much, as there will be little agreement as to what it constitutes between different social classes and constituencies.

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Term Paper on Ethics Question 1 Pareto-Optimal State Means That Assignment

Although the conventional stereotype is that businessmen are rapacious creatures, simply intent upon making money for their own coffers, to line their own pockets, this is not always the case, even in the point-of-view of stridently libertarian economists. Machan and Chesher stress that businesspeople have a moral obligation to their shareholders to enrich the company. However, the authors also insist, more controversially, that this is the only obligation of businessmen and women in the position of CEO. What the authors mean by a violation of business ethics, according to their definition, is that the sole obligation of an executive is to shareholders and not to society. Thus it is unethical to pursue one's own political agenda as a CEO, even if this means to instate a tolerance policy for employees. The authors understand the objective of the business profession as an implied contractual affair between shareholders and chief executives alone, an agreement that supersedes any company obligation to other social forces, and even to company workers, save to keep company employees in a job, and working at maximum productivity.


The sentiment that "the state is certainly not protecting property by removing it, without due judicial cause, such as a fine, imposed for unacceptable behavior and thus it appears therefore that the state has no right to imposed taxes," might be a popular one right now, around the traditional American tax season. This sentiment advocates that such taxation restraints, for the purpose of redistribution mean that the state is imposing a fine for essentially being wealthy to certain personages in the community. It is not fair… [END OF PREVIEW] . . . READ MORE

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