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Ethical Theories

Discuss the following theories/concepts: Utilitarianism, Rights and Justice, The Market System, Cost-Benefit Analysis, Kantianism, Egalitarian Theory, Libertarianism, and Virtue Ethics. Summarize and analyze these theories/concepts using a minimum of two credible sources.

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RESPONSE:

1. Discuss the following theories/concepts: Utilitarianism, Rights and Justice, The Market System, Cost-Benefit Analysis, Kantianism, Egalitarian Theory, Libertarianism, and Virtue Ethics. Summarize and analyze these theories/concepts.

1. Utilitarianism

It is the belief that the value of a thing or an action is determined by its utility. It is ethical theory proposed by Jeremy Bentham and James Mill that all action should be directed toward achieving the greatest happiness ( good) for the greatest number of people. If the action results in the greatest good for the greatest number of people (consequential), then the utilitarian would argue that it is the right action to take (http://www.thefreedictionary.com/utilitarianism)/.

See attached resource for further discussion.

2. Rights and Justice

A. Rights:

The second important approach to ethics has its roots in the philosophy of the 18th-century thinker Immanuel Kant and others, who focused on the individual's right to choose for herself or himself. According to these philosophers, what makes human beings different from mere things is that people have dignity based on their ability to choose freely what they will do with their lives, and they have a fundamental moral right to have these choices respected. People are not objects to be manipulated; it is a violation of human dignity to use people in ways they do not freely choose. Of course, many different, but related, rights exist besides this basic one. These other rights (an incomplete list below) can be thought of as different aspects of the basic right to be treated as we choose.

? The right to the truth: We have a right to be told the truth and to be informed about matters that significantly affect our choices.
? The right of privacy: We have the right to do, believe, and say whatever we choose in our personal lives so long as we do not violate the rights of others.
? The right not to be injured: We have the right not to be harmed or injured unless we freely and knowingly do something to deserve punishment or we freely and knowingly choose to risk such injuries.
? The right to what is agreed: We have a right to what has been promised by those with whom we have freely entered into a contract or agreement.

Therefore, from a rights approach to ethics, what makes an action is moral or immoral approach, answers the question: Does the action respect the moral rights of everyone? Actions are wrong to the extent that they violate the rights of individuals; the more serious the violation, the more wrongful the action (http://www.scu.edu/ethics/practicing/decision/thinking.html).

B. Justice:

The fairness or justice approach to ethics has its roots in the teachings ...

Solution Summary

This solution provide a summary and analysis of several ethical theories/concepts, including Utilitarianism, Rights and Justice, The Market System, Cost-Benefit Analysis, Kantianism, Egalitarian Theory, Libertarianism, and Virtue Ethics. Supplemented with an artilce that expands on each theory.

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