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Business Ethics - Philosophical Ethics: Utilitarianism & The Free Market

Briefly describe the Free Market Theory of Business Ethics in your own words and list one Utilitarian argument that supports it.

Text for reference: Contemporary Issues in Business Ethics By Joseph R. DesJardins, John J. McCall

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According to the free market theory of business ethics says that a free market is an economy where all markets within it are unregulated by any parties other than those players in the market. According to the theory, there is equity in such a market. The government is neutral. Property rights are voluntarily exchanged at a price arranged solely by mutual ...

Solution Summary

This solution explains utilitarianism and free market. The sources used are also included in the solution.