Personal Values and Organizational Ethics Essay

1. How would Locke, Smith, and Marx evaluate the various events in this shield? They would evaluate this case by claiming that the government ownership of companies is the kind of government ownership of the means of production. (Smith the father of modern economics who is the originator of utilitarian argument for the vindicate grocery store. According to Smith, when private individuals are left to seek their own interests in free markets, they will inevitably be to lead to further the public welfare by an invisible hand (a market competition). Market competition ensures the pursuit of self-interest in markets advances the publics welfare which is a utilitarian argument. political sympathies interference in markets lowers the publics welfare by creating shortages or surpluses). (Locke an English political philosopher, is generally credited with developing the idea that human beings ease up a natural right to freedom and a natural right to private property. He argued that if there were no governments, human beings would find themselves in a state of nature. Each individual would be the political equal of all others and would be perfectly free of any constraints other than the law of nature. The moral principles that divinity fudge gave to humanity and that each individual can discover by the use of God-given reason. In Lockes State of Nature all persons are free and equal. The existences of the Lockean rights to liberty and property implies that societies should incorporate private property institutions and free markets. (Marx well known critic of private property institutions, free markets, and free trade.2. Explain the ideologies implied by the statements of the letter to the U.S. Congress signed by 100 leading economists, Joseph Stiglitz, Bob Corker, the Republican resolution on the bailouts, Robert Higgs, and Michael Winther. The ideologies implied by the statements signed are Moving the free market based economy another dangerous step closer towa rd socialism. Socialism is characterized and defined by either of two qualities Government ownership or control of capital, or forced pooling and redistribution of wealth.3. In your view should the GM bailout lay down been done? Explain wherefore or why not. Yes, because the auto industry was on the termination of collapse and there were a million jobs at stake. In exchange for help, responsibilities were demanded and workers and automakers settled their differences. As of today, General Motors is back on top as the universes number-one automaker. Chrysler has grown faster in the U.S. than any major car company. Ford is investing billions in U.S. plants and factories. And together, the entire industry added nearly 160,000 jobs. The company became a viable business again. Was the bailout ethical in terms of utilitarianism, justice, rights, and caring? Yes, I believe it was the best thing to do because if it had not happened the GM would have died and would have not been in exist ence anymore.4. In your judgment, was it good or bad for the government to take ownership of 61 percent of GM? Explain why or why not in terms of theories of Locke, Smith and Marx. I think that is was good for the government to take ownership of GM because it allowed the company to receive a viable business again.Priscilla HatchPersonal Values and Organizational EthicsCase The GM BailoutStephen Jackson InstructorJanuary 22, 2013