Conflict of interest

In the NYTimes: In a scolding report, the nation’s most influential medical advisory group said that doctors should stop taking much of the money, gifts and free drug samples that they routinely accept from drug and device companies.

PHI 2604 Book link

Moral Issues in Business Link. To the left of the page, you have the chapters, then, check each of the tutorial exams. Play with it and have fun. I may use some of these questions for the midterm. (Don't forget to bring your scantron sheets to the exam).

Matrix for Topics PHI 2604 Final Exam (9-11)

Chapter 9
Meaning of job discrimination (p. 456)
Affirmative action (historic background 461-462)
Supreme Court’s Position (case by case)
Arguments in favor and against affirmative action (p. 466-67)
Sexual Harassment (p. 469)
Explain the two different kinds of harassment discussed in the text: quid pro quo and hostile environment.

Chapter 10
Product safety
"Due care" (p. 508)
Caveat Emptor, (let the buyer beware.
Strict Product Liability (p. 509)
Legal Paternalism (p. 511) Ex: Car's seat belts.
There is a 3-point analysis on page 511.
Responsibilities of Business when it comes to product safety: (6 points p. 513-515)
Warranty: Obligations to purchasers that sellers assume. Expressed warranties and merchantability.
Price fixing (p. 519)
Price gouging (p. 520)
Labeling and packaging (p. 521)
Deceptive techniques: (a) Ambiguity (b) Concealed facts (c) Exaggeration (d) Psychological Appeals
Chapter 11
1- (a) Ecology, (b) ecosystem (p. 575)
2- Environment as "instrument," traditional view of business. (p. 577)
3- Externality or "spillover"
4- Cost-benefit analysis (p. 579)
5- Pollution prevention: Pros and cons of regulations, (p. 582-583); incentives (p. 585) and price mechanisms (p. 585)
6- Obligations to future generations (p. 587)
7- Environment as "intrinsic" (p. 588)

PHI 2604 Chapter 11: Homework

1- Comment the "old view" of the business industry regarding the environment?
2- Define "spillover."
3- Define "cost-benefit analysis."
4- Why is sometimes difficult to establish who's responsible for environmental degradation? (Hint: Americans produce 60% more garbage (1,600 pounds per person per year) than we did 30 years ago).
5- Regarding cost allocation, briefly explain the benefits or setbacks of the following:
a) Regulation
b) Incentives
c) Pricing Mechanisms
d) Pollution permits
6- Do we really have an obligation with future generations?
7- Is nature intrinsically valuable?
8- Is the welfare of animals ethical?

Insider trading

In the NYTimes: Oracle's chief in agreement over settlement of insider trading's lawsuit.

The lawsuit charged that Mr. Ellison, known for his brash and combative pronouncements, sold almost $900 million of shares ahead of news that Oracle would not meet its expected earnings target. The same amount of stock, after the announcement, was worth slightly more than half as much.

Ellison appears -as well- as one of the best compensated executives in America.