How much is a Human Life Worth?
My emphasis in Integrated Studies is Philosophy and Business. In the last five months I have become increasingly interested in the business ethics (or the lack of) in companies such as McDonald’s, Ford and B.P. Examining such companies has sparked an interest in focusing primarily on national companies. I am proposing to do my capstone project on the business ethics of America, specifically how much American companies value individual human lives. I plan to explore this question by asking the following questions:
· What are the current legal requirements/laws regarding general business ethics?
· Which (if any) need revision or seem unjust?
· Which ethical issues remain unaddressed in our present laws?
· How do international businesses/cultures policies compare with national business ethics policies? What’s the difference? How can we incorporate upstanding laws into our own business practices?
· And eventually, after covering the basics on American business ethics I hope to discover and focus on those companies who place a numerical value on human life and suffering, what that value is and what their justification or explanation is for the stated value.
I hope to make the research and the actual paper a large portion of my capstone project, yet to incorporate interviews and surveys with local business owners/employees. My interviews with local businesses will question their ethics policies and directly ask about ‘their value of human life’.. By doing so, I hope to find out more about standard ethical procedures on both a personal level and a business level.
Finally, I will incorporate philosophical beliefs on business ethics stemming from primarily Marx and Hegel to help me determine what is socially accepted and the cultural standard of our business owners in regards to the value of human life and suffering.
Tess I think you have identified an excellent topic in business ethics.
ReplyDeleteA few ideas/suggestions:
1. Narrow down your argument; it sounds like you are arguing against any practice that quantifies human life in business, however, you might find it difficult to find many cases similar to the Ford Pinto case that quantifies life as a whole. You will find abundant cases of companies that do marginal analysis on utility/suffering of humans regarding their products. My point is that there are two separate (though similar) issues that you might want to choose from: (1)valuing a human life (based on actual deaths caused from commercial products/services) and (2) valuing utility and suffering of humans (where injuries and other harm occurs where people don't directly die)
2. Be sure to thoroughly understand the logic of marginal analysis in managerial economics before you deeply criticize its methods of valuation and analysis. Showing this understanding will really help qualify your argument and give you credibility. Read up on microeconomic principles such as optimal allocations, externalities, private/public goods, utility maximization, and especially the microeconomics mantra: MB=MC (where the optimal allocation of resources for decisions makers occurs where marginal benefits equals marginal costs).
3.One of the counter arguments you might want to address: Some would say that it is actually the socially responsible thing to do (valuing human life) because by doing so companies are at least considering the damage done and will try to optimally minimize that damage (MB=MC) where damage will inevitably occur, such as in automobiles. (40,000 deaths occur every year in America from automobile accidents). An infinite amount of safety resources (dollars) invested in safety would provide maximum safety in a vehicle but costs would be infinite. Maximizing safety is not practical. Marginal analysis attempts to optimize that allocation for all parties.
4. The problem is that some companies don't consider those costs because they are external to their company. I would suggest that some practices of valuing human life are responsible and ethical especially if those costs are external.
If some of this didn't make sense just ask me.
I have had terrible experiences with Allstate insurance company. I have multiple health insurance policies through them and they have denied each of my claims. I have been with them for over three years and they still give me all kinds of trouble. I was even told by former employees that their standard practice is to deny all claims the first time around. Individuals who are persistent enough can get their claims approved but their always seems to be difficult issues to get around.
ReplyDeleteI have also had terrible experiences with home security companies. Specifically Pinnacle and others that have recently popped up in Utah County. Both of these companies to a certain extent are putting a dollar value on human life. With the health insurance, Allstate was supposed to cover my daughters intensive care stay which cost $80,000. Fortunately I had other insurance as well which picked up the cost but Allstate still owes me money that I am depending on to pay the medical bills. What if my daughter had needed further treatments? With the security company, their products sucked and had someone broke in I would not have known. Their service and response time was bad too.
Well hopefully those examples can give you some ideas.
I think that "business ethics of America” sounds very broad, although interesting. It would be a good idea to look into business ethics based on a few companies as a sample, and go from there. You can even start by analyzing UVU’s ethics as a business entity for that matter.
ReplyDeleteI was going through Grant's comment and thought to ask if you have taken any business ethics classes. I think that would help with the subject. Also, have you considered interviewing and/or even having an internship with president Holland? He might a valuable opinion about this subject (my coworker had this internship last semester with him on campus). Now, I just noticed that Collins Huish (he is in our class) has written wrote business ethics relate papers. He might be able to give some ideas as well.
ReplyDelete