Ethics and price-setting in business: case scenario
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Attached is a case study about a price-setting scheme used by GE...can you please help me answer the following. Just a good solid paragraph to help me expand in the right direction would be appreciated!!
Apart from their legality, did the price-setting scheme set up in 1963 differ in any morally relevant ways from the earlier price-fixing schemes?
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Solution Summary
This solution examines a case scenario of price fixing among several companies in the the 1960's. Specifically, the ethics of the case are discussed and evaluated. The original article describing the case is included as well as over 300 words of original commentary on the ethics of the case.
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Apart from their legality, did the price-setting scheme set up in 1963 differ in any morally relevant ways from the earlier price-fixing schemes?
It seems to me that the scheme in 1963 differs from earlier schemes in several important ways. The first is the area of coordination. In the schemes prior to 1963 there was active coordination with the other major three competitors. This coordination was secretive and aimed at controlling the heavy electrical equipment industry among these four companies. These companies met regularly in an ...
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