Essay About Insider Trading And Foundation Of Civilization Bullshit

Business Ethics Notes
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PHI2397 NOTES Moral and Ethical Questions How we ought to behave Apply ethics, Example of intuition is clear Raising dog from puppy, kicking the dog and hits the wall – feelings during response of anger and sad Try to take step back from intuitive response Difference between reasoning and persuading – is reasoning about persuasion?Persuade is to get someone to convince Being reasonable and logical can help people in persuading – reasoning is one possible way of persuadingArgument→ Series of proposition to support a conclusion or statement Series of propositions would be called premises Trying to convince you of conclusion What’s the conclusion? What are they trying to convince us of? www.criticalthinking.org/ctmodel/logic-model1.htm → Elements of thoughts Google Biases – Women vs. Men Trainers asking for feedback about the training Talks about how women different from men Look at all the facts – who shared it? It was an internal message Example with the news getting leak and had a huge twitter fightPublic relations disaster This should be the kind of thinking to proceed throughout the semester Class 4: Honesty and Trust Second half of chapter 2 Every class will have discussion note – Car’s PositionThreshold in business is different than in real life Uses poker as a reference and how people bluff – poker is used as an analogy Business is like poker. What’s true of poker is what’s true of business Said that if you don’t want to bet, don’t playBluffing is part of the game therefore morally acceptable If you’re a poker player, expectations are that the others bluff Faking an injury during a match would be considered a form of bluffing Bluffing is part of the RULES How are poker and business similar?There’s rules that you have to follow for example, the law Different players with different interests It’s not expected for people to help each other helpThere’s winners and loser If you say it’s morally ethical to bluff in poker, is it ethical to bluff in real life?Poker is nothing less than a game There are non profit places that More toleration for bluffing in a business than non profit Moral threshold for non profit Rederick Art of persuasion – reason is one way but there’s a distinction between logic and rederick Harry Frankfurt on Bullshit These are among the foundation of civilization Bullshit is lack of concern between truth and falsity Serves another purpose, true or false is irrelevant Distinction between bullshit and liars Insidious threat to the values This shows value for truth Our attitude of bullshit – we are tolerant of this versus lying Liars are injuring us, but we don’t feel this way with bullshitDoes bullshit require creativity? Yes. Liar is limited to their commitment to saying something that conflicts with the truth (constraint)Bullshit doesn’t care about truth can go anywhere he likes Bullshit has increased compared to 100 years ago. Intensity of marketing motive in contemporary.Higher educated people can create more bullshit and acquire arrogance that leads them to be negligent about truth and falsity This may encourage to produce bullshit It’s a disregard for truth Liars see value in the truth such that they want to guard it whereas bullshitters don’t care Is being a good bullshit artist good for the business?Is there a difference between being strategic with information and bullshitting?October 2, 2017 Insider Trading How would you describe this normative vs. descriptive?Descriptive is more neutral, normative is going to have values embedded in the statement (not obvious) Descriptive is just stating what is the case and not saying whether it’s good or bad Know the difference between the two Insider TradingHaving access to private information putting you in an advantage VIDEO: Money MattersMartha Stewart Accused of insider trading Would’ve lost 46k if she didn’t sell her stocks Language was relatively neutral Was there anything suggested in the subtext to present normative argumentThe music was very intense What’s wrong with inside trading?It gives people an advantage compared to others and can influence the market If you play unfairly, you’re taking money from other people VIDEO: ROBERT MURPHY’S ARGUMENT Reflects what everyone knows Just by insider trading, stock price is going down If you’re an insider, and you’re allowed to trade, you’re going to be encouraged to trade your stuff, which will better reflectCompanies will be less able to hide things He’s incentivizing to let you know what’s going on through their trading actions Yes you’re going to benefit as insider, that’s your incentive Able to influence the price, price will then accurately reflect what’s going on If you’re not outsourcing, are you more likely to check it yourself?Took out textbook to look into insider trading section…She believes that lifting band on IT will cause harm This is a normative argument Moral Theory: actor, action or consequence?Consequences because we’re talking about harm – consequential theory Duties What kind of moral theories are we talking about? Deontology Talking about the action itself Elements of both Equal opportunities – fair fight (version one) E.g. garage sale and finding a good deal Disparity of information with insider trading Disparity of info is not what’s unfair. If I get good at the game, that’s not unfair (practice or just naturally better) People on both sides already know of the price (or should know) Unequal access to information (version two) Property Rights*Two Kinds of Harm: Potential harm to ordinary investors There’s winners and losers Harm to the marketErode investors confidence in the market → Insider trading necessary for ordinary investors? It depends how you construct the management of your money. Example in the book.