Ethics
summary – 2024/2025
Table of contents
Week 1 2
Lecture 1 – Introduction 2
Chapter 1 – Justice: what's the right thing to do 4
1.1 The Price Gouging Debate: Is It Fair? 4
1.2 The Purple Heart Controversy: Who Deserves Honor? 4
1.3 The 2008 Financial Crisis: Rewarding Failure? 5
1.4 Three Approaches to Justice 5
Overview week 1 6
Week 2 8
Lecture 2 – Aristotle's Ethics 8
Chapter 8 – Who Deserves What? (Aristotle) 9
8.1 Aristotle’s Theory of Justice: The Connection Between Purpose and Desert 10
8.2 Justice in Political Life: Who Should Rule? 10
8.3 Contemporary Example: Who Deserves What in College Admissions? 11
8.4 Who Deserves What? The Case of Sports and Social Recognition 12
8.5 The Limits of Aristotle’s Theory: Objections and Challenges 12
8.6 Conclusion: Why Aristotle Still Matters 13
Overview week 2 14
Week 3 15
Lecture 3 – Utilitarianism vs Kantian Ethics vs Libertarianism 15
Chapter 2 – The Greatest Happiness Principle (Utilitarianism) 17
2.1 The Lifeboat Case: The Ethics of Killing One to Save Many 17
2.2 Jeremy Bentham: The Origins of Utilitarianism 18
2.3 Objections to Bentham’s Utilitarianism 19
2.4 John Stuart Mill: A More Refined Utilitarianism 20
2.5 Utilitarianism in Public Policy: Cost-Benefit Analysis 20
2.6 Conclusion: The Strengths and Limits of Utilitarianism 21
Chapter 3 – Do We Own Ourselves? (Libertarianism) 21
3.1 The Core Idea of Libertarianism: Self-Ownership 22
3.2 What Libertarians Oppose: Three Types of Laws They Reject 22
3.3 Robert Nozick’s Libertarian Theory: The Minimal State 23
3.4 Controversial Libertarian Cases: Extreme Examples of Self-Ownership 24
3.5 Challenges to Libertarianism: Are There Limits to Self-Ownership? 24
3.6 Conclusion: Is Libertarianism a Realistic Theory of Justice? 25
Overview week 3 26
,Week 4 28
Lecture 4 – Kantian Deontology 28
Justice: what's the right thing to do – Chapter 5 30
5.1 Kant vs. Utilitarianism: Morality Is Not About Consequences 30
5.2 Freedom According to Kant: Acting from Reason, Not Desires 30
5.3 The Categorical Imperative: The Ultimate Moral Rule 31
5.4 Applying Kant’s Ethics to Modern Issues 32
5.5 Kant’s Lasting Impact on Moral and Political Thought 32
5.6 Conclusion: Why Kant’s Ethics Still Matter 33
Overview week 4 34
Week 5 36
Lecture 5 36
Justice: what's the right thing to do – Chapter 6 38
6.1 The Problem with Utilitarianism and Libertarianism 38
6.2 The Veil of Ignorance: A Fair Way to Choose Principles of Justice 39
6.3 The Difference Principle: Justifying Inequality 39
6.4 Objections to Rawls’ Theory 40
6.5 Applying Rawls to Real-World Issues 40
6.6 Rawls’ Lasting Impact on Justice and Fairness 41
6.7 Conclusion: Why Rawls Matters 41
Overview week 5 42
Week 6 44
Lecture 6 44
Justice: what's the right thing to do – Chapter 9 45
9.1 Universal vs. Particular Moral Obligations 45
9.2 Case Study: Apologies for Historical Injustices 45
9.3 Case Study: Patriotism and Moral Obligation 46
9.4 Case Study: Affirmative Action and Moral Responsibility 47
9.5 Communitarianism: A Challenge to Liberal Individualism 48
9.6 Objections to Sandel’s Communitarianism 48
9.7 Conclusion: The Role of Loyalty and Moral Responsibility in Justice 48
Justice: what's the right thing to do – Chapter 10 49
10.1 Can We Separate Justice from Morality? 49
10.2 The Moral Limits of Markets: Should Everything Be for Sale? 50
10.3 Aristotle’s View: Justice Is About the Good Life 50
10.4 The Role of Religion in Public Life 51
10.5 Can We Build a Politics of the Common Good? 52
10.6 Conclusion: Why Justice Needs Morality 52
Overview week 6 53
Extra 55
Guest lecture – Xander Koolman 55
1
,Week 1
Lecture 1 – Introduction
Introduction to Ethics
Ethics is derived from the Greek word ἦθος (êthos), meaning character, custom, or habit. It
can refer to a set of moral principles, a theory or system of moral values, or the discipline
dealing with what is good and bad and with moral duty and obligation.
Historical Context: The lectures will trace the history of ideas around moral values
and the ethical theories they have given rise to, following a chronological order.
Business Science and Business Ethics
- Focus on Organizations: Organizations can be seen as agents whose behavior can be
evaluated ethically, or as environments that affect the behavior of individuals within
and outside the organization.
- Focus on Markets: Markets can be environments in which organizations operate or
coordination systems alternative to organizations. Ethical questions arise about how
organizations balance competitiveness with ethical standing and how markets
should be regulated.
- Impact on Society: The interaction between markets and society raises ethical
questions about the influence of societal values on markets and vice versa.
Theoretical Bases for Business Ethics
The course will cover various ethical theories, including Aristotle's virtue ethics,
utilitarianism, libertarianism, Kantian deontology, social contract theory, Rawls' theory, and
communitarianism:
1. Aristotle's Virtue Ethics:
○ Focuses on developing moral virtues and character traits.
○ Emphasizes living a life of eudaimonia (flourishing) through rational activity
and virtuous behavior.
2. Utilitarianism:
○ Advocates for actions that maximize happiness and minimize suffering.
○ The principle of "the greatest good for the greatest number."
3. Libertarianism:
○ Emphasizes individual freedom and autonomy.
2
, ○ Advocates for minimal state intervention and upholding personal rights.
4. Kantian Deontology:
○ Based on the philosophy of Immanuel Kant.
○ Focuses on duty, moral rules, and the inherent dignity of individuals.
○ Actions are judged based on whether they adhere to universal moral laws,
regardless of consequences.
5. Social Contract Theory:
○ Explores the idea that individuals consent, either explicitly or implicitly, to
form a society and abide by its rules for mutual benefit.
○ Associated with philosophers like Thomas Hobbes, John Locke, and
Jean-Jacques Rousseau.
6. Rawls' Theory of Justice:
○ Developed by John Rawls.
○ Emphasizes fairness and equality in the distribution of resources and
opportunities.
○ Introduces the concept of the "veil of ignorance" to ensure impartiality in
decision-making.
7. Communitarianism:
○ Stresses the importance of community values and social cohesion.
○ Argues that individual rights should be balanced with the common good and
societal responsibilities.
These theories provide different perspectives on ethical decision-making and are used to
analyze and address moral dilemmas in business and other contexts..
Ethical Decision-Making
- Process: Ethical decision-making involves evaluating and choosing among
alternatives in a way consistent with ethical principles, recognizing alternatives,
stakeholders, and consequences.
- Challenges: Ethical decision-making often involves balancing clashing values and
principles.
What Ethical Behavior is Not
● Clarifications: Ethical behavior is not the same as acting according to feelings, religious
beliefs, laws, social conventions, or scientific knowledge. Ethics cannot be reduced to
any of these aspects.
3
summary – 2024/2025
Table of contents
Week 1 2
Lecture 1 – Introduction 2
Chapter 1 – Justice: what's the right thing to do 4
1.1 The Price Gouging Debate: Is It Fair? 4
1.2 The Purple Heart Controversy: Who Deserves Honor? 4
1.3 The 2008 Financial Crisis: Rewarding Failure? 5
1.4 Three Approaches to Justice 5
Overview week 1 6
Week 2 8
Lecture 2 – Aristotle's Ethics 8
Chapter 8 – Who Deserves What? (Aristotle) 9
8.1 Aristotle’s Theory of Justice: The Connection Between Purpose and Desert 10
8.2 Justice in Political Life: Who Should Rule? 10
8.3 Contemporary Example: Who Deserves What in College Admissions? 11
8.4 Who Deserves What? The Case of Sports and Social Recognition 12
8.5 The Limits of Aristotle’s Theory: Objections and Challenges 12
8.6 Conclusion: Why Aristotle Still Matters 13
Overview week 2 14
Week 3 15
Lecture 3 – Utilitarianism vs Kantian Ethics vs Libertarianism 15
Chapter 2 – The Greatest Happiness Principle (Utilitarianism) 17
2.1 The Lifeboat Case: The Ethics of Killing One to Save Many 17
2.2 Jeremy Bentham: The Origins of Utilitarianism 18
2.3 Objections to Bentham’s Utilitarianism 19
2.4 John Stuart Mill: A More Refined Utilitarianism 20
2.5 Utilitarianism in Public Policy: Cost-Benefit Analysis 20
2.6 Conclusion: The Strengths and Limits of Utilitarianism 21
Chapter 3 – Do We Own Ourselves? (Libertarianism) 21
3.1 The Core Idea of Libertarianism: Self-Ownership 22
3.2 What Libertarians Oppose: Three Types of Laws They Reject 22
3.3 Robert Nozick’s Libertarian Theory: The Minimal State 23
3.4 Controversial Libertarian Cases: Extreme Examples of Self-Ownership 24
3.5 Challenges to Libertarianism: Are There Limits to Self-Ownership? 24
3.6 Conclusion: Is Libertarianism a Realistic Theory of Justice? 25
Overview week 3 26
,Week 4 28
Lecture 4 – Kantian Deontology 28
Justice: what's the right thing to do – Chapter 5 30
5.1 Kant vs. Utilitarianism: Morality Is Not About Consequences 30
5.2 Freedom According to Kant: Acting from Reason, Not Desires 30
5.3 The Categorical Imperative: The Ultimate Moral Rule 31
5.4 Applying Kant’s Ethics to Modern Issues 32
5.5 Kant’s Lasting Impact on Moral and Political Thought 32
5.6 Conclusion: Why Kant’s Ethics Still Matter 33
Overview week 4 34
Week 5 36
Lecture 5 36
Justice: what's the right thing to do – Chapter 6 38
6.1 The Problem with Utilitarianism and Libertarianism 38
6.2 The Veil of Ignorance: A Fair Way to Choose Principles of Justice 39
6.3 The Difference Principle: Justifying Inequality 39
6.4 Objections to Rawls’ Theory 40
6.5 Applying Rawls to Real-World Issues 40
6.6 Rawls’ Lasting Impact on Justice and Fairness 41
6.7 Conclusion: Why Rawls Matters 41
Overview week 5 42
Week 6 44
Lecture 6 44
Justice: what's the right thing to do – Chapter 9 45
9.1 Universal vs. Particular Moral Obligations 45
9.2 Case Study: Apologies for Historical Injustices 45
9.3 Case Study: Patriotism and Moral Obligation 46
9.4 Case Study: Affirmative Action and Moral Responsibility 47
9.5 Communitarianism: A Challenge to Liberal Individualism 48
9.6 Objections to Sandel’s Communitarianism 48
9.7 Conclusion: The Role of Loyalty and Moral Responsibility in Justice 48
Justice: what's the right thing to do – Chapter 10 49
10.1 Can We Separate Justice from Morality? 49
10.2 The Moral Limits of Markets: Should Everything Be for Sale? 50
10.3 Aristotle’s View: Justice Is About the Good Life 50
10.4 The Role of Religion in Public Life 51
10.5 Can We Build a Politics of the Common Good? 52
10.6 Conclusion: Why Justice Needs Morality 52
Overview week 6 53
Extra 55
Guest lecture – Xander Koolman 55
1
,Week 1
Lecture 1 – Introduction
Introduction to Ethics
Ethics is derived from the Greek word ἦθος (êthos), meaning character, custom, or habit. It
can refer to a set of moral principles, a theory or system of moral values, or the discipline
dealing with what is good and bad and with moral duty and obligation.
Historical Context: The lectures will trace the history of ideas around moral values
and the ethical theories they have given rise to, following a chronological order.
Business Science and Business Ethics
- Focus on Organizations: Organizations can be seen as agents whose behavior can be
evaluated ethically, or as environments that affect the behavior of individuals within
and outside the organization.
- Focus on Markets: Markets can be environments in which organizations operate or
coordination systems alternative to organizations. Ethical questions arise about how
organizations balance competitiveness with ethical standing and how markets
should be regulated.
- Impact on Society: The interaction between markets and society raises ethical
questions about the influence of societal values on markets and vice versa.
Theoretical Bases for Business Ethics
The course will cover various ethical theories, including Aristotle's virtue ethics,
utilitarianism, libertarianism, Kantian deontology, social contract theory, Rawls' theory, and
communitarianism:
1. Aristotle's Virtue Ethics:
○ Focuses on developing moral virtues and character traits.
○ Emphasizes living a life of eudaimonia (flourishing) through rational activity
and virtuous behavior.
2. Utilitarianism:
○ Advocates for actions that maximize happiness and minimize suffering.
○ The principle of "the greatest good for the greatest number."
3. Libertarianism:
○ Emphasizes individual freedom and autonomy.
2
, ○ Advocates for minimal state intervention and upholding personal rights.
4. Kantian Deontology:
○ Based on the philosophy of Immanuel Kant.
○ Focuses on duty, moral rules, and the inherent dignity of individuals.
○ Actions are judged based on whether they adhere to universal moral laws,
regardless of consequences.
5. Social Contract Theory:
○ Explores the idea that individuals consent, either explicitly or implicitly, to
form a society and abide by its rules for mutual benefit.
○ Associated with philosophers like Thomas Hobbes, John Locke, and
Jean-Jacques Rousseau.
6. Rawls' Theory of Justice:
○ Developed by John Rawls.
○ Emphasizes fairness and equality in the distribution of resources and
opportunities.
○ Introduces the concept of the "veil of ignorance" to ensure impartiality in
decision-making.
7. Communitarianism:
○ Stresses the importance of community values and social cohesion.
○ Argues that individual rights should be balanced with the common good and
societal responsibilities.
These theories provide different perspectives on ethical decision-making and are used to
analyze and address moral dilemmas in business and other contexts..
Ethical Decision-Making
- Process: Ethical decision-making involves evaluating and choosing among
alternatives in a way consistent with ethical principles, recognizing alternatives,
stakeholders, and consequences.
- Challenges: Ethical decision-making often involves balancing clashing values and
principles.
What Ethical Behavior is Not
● Clarifications: Ethical behavior is not the same as acting according to feelings, religious
beliefs, laws, social conventions, or scientific knowledge. Ethics cannot be reduced to
any of these aspects.
3
