Morality in Business and Freedom of Market

Jun 18th, 2015
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Different philosophers in different span of time have laid down certain moral theories which continue to be interpreted as per the evolving times.

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Morality in Business and Freedom of MarketBy KK Sharma; Regional HeadEveronn IIPS Northern Business Region; IndiaIntroductionDifferent philosophers in different span of time have laid down certain moral theories whichcontinue to be interpreted asper the evolving times.Ethics and morals havevarying connotations and arehighly individual perceptiondependent. If being ethicalwere doing "whateversociety accepts," then onewould have to find out whatsociety accepts. Ethics bydefinition refers to well-founded standards of right and wrong that prescribe what humans oughtto do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues(Velasquez Manuel, 1997). Morality on the other hand has a wider application. Rational Moralitybrings out the decision dilemma, certain conditions for moral principles and welfare rights.Liberty and welfare orientation of morality has been discussed in detail. In this context, freemarket has both - liberal principles and negative arguments. Market operates with differentstakeholders, the buyers, sellers, merchants and is held dynamic due to ever present competitionamongst all.Philosophy is actually focused on the fundamental aspects of any subject, which lay down theactual definition of the subject. Business ethics is an applied philosophy as it deals with the realissues we come across in our lives, especially if one is engaged in business. In a way as the bookattempts to prove that business et

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