1. 1-1 3-1 Philosophical vs Theological Ethics

2. 1-2 3-2 This question is not new…there is a long tradition Theories in Philosophical Ethics can o provide a systematic answer to this fundamental ethical question o provide reasons to support that answer o seek to provide a rational justification for why we should act and decide in a particular way o help us devise an accountable decision Anyone can tell you what you should do and how you should act But philosophical ethics justifies “Why?” How should we live our lives?

3. 1-3 3-3 The Ethical Question: Human history has grappled with this question. Western ethics has had a significant influence on the development of contemporary business and economics But there are some Barriers to Discussions of Philosophical Ethics: Can appear intimidating or too abstract Often seem to be too theoretical to be of much relevance to business. How should we live our lives?

4. 1-4 3-4 The Ethical Question: Ethical Theory is an attempt to provide a systematic answer to this fundamental ethical question Ethical theories provide reasons to support their answer to this question. Ethical theories seek to provide a rational justification for why we should act and decide in a particular way. How should we live our lives?

5. 1-5 3-5 Who is to say what is right or wrong? One of the more challenging aspects of resolving ethical dilemmas is that the different stakeholders often hold different ethical views Often the foundation of these views have religious basis (morals, beliefs, values) This begins to capture the notion of Relativism An ethical relativist holds that ethical values are relative to particular people, cultures, or times. The relativist denies that there can be any rationally justified (objective) ethical judgments. The relativist believes that there is no way to resolve that dispute and to prove that one side is right or more reasonable than the other.

6. 1-6 3-6 Who is to say what is right or wrong? There are imp questions being raised here: Should ethics be based on Religious Beliefs/Principles? Whose religion? Whose value system? We know that people differ widely in their religious beliefs So if ethics is based only on religious principles And if people disagree about those religious starting points, Then ethics would never escape the predicament of relativism.

7. 1-7 3-7 Theological vs. Philosophical Ethics Ethics based on religion is called  Theological Ethics Theological ethics explains human well-being in religious terms So … to avoid this type of relativism… Business ethicists and Humanitarian Scholars turn to and develop Philosophical Ethics Philosophical ethics provides justifications that must be applicable to all people, regardless of their religious starting points

8. 1-8 Theological vs. Philosophical Ethics Philosophical ethics seeks foundations that all reasonable people can accept, regardless of their religious convictions: Example of philosophical justification: “You should contribute to disaster relief because it will reduce human suffering.” Example of religious justification: “You should contribute to disaster relief because God commands it,” or “because it will bring you heavenly rewards.” 3-8

9. 1-9 Philosophical Ethics Several ethical frameworks based in philosophical ethics that have proven influential in the development of business ethics We will visit some of these in Chapter One & Next week’s Lecture 3-9