This paper briefly examines the topic of business ethics and attempts to suggest a code of ethics for multinational firms. While most companies have basic policies on employee integrity, confidentiality and sexual harassment, relatively few have established policies regarding bribery, exploitive child labor, human rights violations and other issues they may encounter in the global market place (Drake, 1998). Until recently, very few companies had truly global operations. Consequently little attention was paid to the issue of ethical guidelines in a (...) global context. Recent changes in international markets have led to an explosion of corporations with global operations, and the need for a global code of ethics has grown commensurately. In this paper we explore the issue of global business ethics and attempt to provide a framework for future discussion. We also examine some of the unique difficulties surrounding the development of any set of global business standards. Key among these difficulties is the issue of competing ethical values in home and host countries. (shrink)

Two prominent normative theories of business ethics are stakeholder and shareholder theory. Business ethicists generally favor the former, while business people prefer the latter. If the purpose of business ethics is “to produce a set of ethical principles that can be both expressed in language accessible to and conveniently applied by an ordinary business person” , then it is important to examine this dichotomy.While superficially attractive, the normative version of stakeholder theory contains numerous limitations. Since balancing multiple stakeholder preferences is (...) difficult, competing claims often become tests of political strength rather than justice. Furthermore, stakeholder theory has significant normative weaknesses.Although less attractive to academic ethicists, shareholder theory may provide superior results for society. The shareholder model focuses companies on meeting society’s material needs. Wise owners often balance other stakeholders’ views well since it is necessary for the business’s long-term success. Finally, shareholder theory has a strong normative basis in autonomy.In light of this analysis, it is incumbent upon academic business ethicists to emphasize the value of shareholder theory when teaching business ethics courses. (shrink)

Over the past generation much attention has been paid to the disadvantaged in our society. Public and private programs have been developed to alleviate poverty and allow the underprivileged into the mainstream of society. While much more needs to be done, many of these programs have been highly successful.Unfortunately, many social programs have had perverse consequences for the intended beneficiaries. One example is the debate over differential tuition at State University of New York (SUNY) colleges. Advocates of uniform tuition at (...) SUNY colleges take a position that at first glance appears compassionate, but upon closer examination may actually work against the interests of the low- income students it is meant to help. The purpose of this paper is to show how altruism without rigorous analysis can be dangerous to those in need of assistance. What is important is the effectiveness of public policy initiatives, not their method of delivery. (shrink)

The Social Security system is expected to go bankrupt in approximately 2032. The debate on how to reform the system currently revolves around the issue of privatization. Advocates of privatization claim that allowing individuals to invest some of their SSI contributions would provide greater returns and protect the system from insolvency. Opponents of privatization argue that such a move would expose individuals to excessive risk.The debate should be resolved through a rational examination of alternative proposals. Unfortunately, defenders of the status (...) quo are again resorting to the type of iconography seen in other recent public policy debates. They are equating defense of the current government-financed system with protecting the elderly from evil predators who wish to "starve the old folks" for their own gain. The purpose of this paper is to show how iconography could harm future retirees by stifling debate on an important public policy issue. (shrink)