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Morality and money
Morality and money
Financial management challenges and ethics
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There are multiple studies and articles that have supported the fact that there is a clear relationship between self-reflection and morality. Like other studies, Gino and Mogilner have established this link. In their study, the level of moral behaviour was recorded after priming ‘money’ and ‘time’ to trigger self-reflection, or self-interest, within individuals. This was demonstrated in a series of four experiments involving constructing sentences, finding music, questionnaires and counting money/days. Thus, it can be concluded that the given study’s main link is between self-reflection and morality, rather than the independent variables, themselves. It is interesting to note that the three variables are not clearly defined in the study’s paper, raising questions of uncertainty due to the breadth and lack of distinction of ‘time’, as it can be interpreted as minutes, months or years, for example. While the study has clearly shown a link between different variables, there are issues of external validity, internal validity and generalizability, which need to be considered.
The study concludes that triggering self interest based on money leads to unethical behaviour. In fact, this correlation that money corrupts is supported in many articles including Stella and Willer (2014) who have suggested that the impact of money is so influential and effective that people will act unfairly or will take advantage of circumstances to ensure it is theirs. At the same time, thinking about money and its effects can be the leading contributor to stress. The American Psychology Association‘s recent surveys in America have concluded that matters regarding money are a major influence of stress (American Psychology Association, 2014). It has been concl...
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...oral (Wren, 1990). For example, people aged between 18 and 25 are high money conscious (Prince, 1991) affecting their levels of morality, compared to staff, who are less financially burdened. Despite this tendency, the results show strong evidence that this is a minor issue, and the trend of the results would still remain the same, had this consideration been factored into the experiments.
The study that Gino and Mogilner have conducted is conclusive in its evidence. Their methodology to find a convincing link between self-reflection and morality is reliable and understandable, however, we should not assume that there is a link between time, money and morality, as there may be other variables, which affects ethical behaviour other than time. Further, the results are not substantial enough to stand alone in generalizing the results to an entire population.
In “The Real Truth about Money” (2005), Gregg Easterbrook discusses the effects of money on the people’s happiness. He presents his article with statistics of the generation immediately after the World War II and the current generation. He has experienced both generations as he has lived in both and is very familiar with the difference of people’s lives now and back then. Easterbrook is a highly reputed journalist, he is an authorized writer, editor, and professor. He worked with many professional magazines and newspapers; accordingly, he has enough knowledge to write about the people’s happiness in terms of money. Easterbrook has well convinced the readers with psychological facts from university researches and credible
Adam Smith’s moral theory explains that there is an “impartial spectator” inside each of us that aids in determining what is morally and universally good, using our personal experiences and human commonalities. In order to judge our own actions, we judge and observe the actions of others, at the same time observing their judgments of us. Our impartial spectator efficiently allows us to take on two perceptions at once: one is our own, determined by self-interest, and the other is an imaginary observer. This paper will analyze the impartiality of the impartial spectator, by analyzing how humans are motivated by self-interest.
To judge one’s moral worth for his or her actions is a very important task. In the play, Enemy of the People by Henrik Ibsen, the main character, Dr. Stockmann performs in what many would consider a good, but moral worth is not determined by someone making a 10 second analysis of the actions and determining it. In order to determine moral worth, one can use Immanuel Kant’s book, Grounding for a Metaphysics of Morals. Within this book, Kant describes how one’s actions can be determined for the purpose of moral worth. Kant goes into detail and uses the cognitive imperative and other ways to determine moral worth.
The love of material things is considered the root of all evil. Money, as well as desire for fame and power, are powerful motivators that drive people through certain shortcuts called decisions. Every day, people drive through this shortcuts, big and small.
Williams’s and Nagel’s concept of moral luck encounter more disagreement than being agreed since moral luck is not universally applicable in every situation. The existence of either motive or agent-regret will, in some cases, be enigma since they are private matter and unknown to the rest of us. Therefore, the case of moral luck has been yet remains unsolved due to its inconsistency. On the other hand, if motives and intentions (of being moral) are not counted and/or agent-regret does exist, it will be unfair to the person who is incorrectly treated since the result is actually out of their control. Thus, the moral luck is a sensitive matter and should be applied per case based on the presented facts. There is no such universal formula for relevance of moral luck in each situation.
Stocker begins his paper by arguing that modern ethical theories fail because, by and large, they deal only with the reasons and justifications for people’s actions and ignore people’s motivations. This failure to address the role of motivation has led to a form of schizophrenia in an important area of value;22 people are unable to reconcile their motives with the moral justifications for their actions. Stocker highlights the constraints that motives impose on both ethical theory and the ethical life in order to show that only when justifications and motives are in harmony can people lead the good life.
• Once more, the ordinary science’ proves itself as the master of classification, inventing and defining the various categories of Egoism. Per example, psychological egoism, which defines doctrine that an individual is always motivated by self-interest, then rational egoism which unquestionably advocates acting in self-interest. Ethical egoism as diametrically opposite of ethical altruism which obliges a moral agent to assist the other first, even if sacrifices own interest. Also, ethical egoism differs from both rational and psychological egoism in ‘defending’ doctrine which considers all actions with contributive beneficial effects for an acting individual
It has been stated that a person’s sense of morality deals with how he should act as a person, as opposed to acting on the basis of his race, ethnicity or religion. This statement therefore implies that all people should have the same set of morals. People should be concerned with how they should act as people in general and not let other aspects of who they are influence their sense of morality. But in the end this belief has been proven to be false. Different people across the world have contrasting moral reactions, natural responses and thoughts to moral dilemmas. (Fleischacker, 1994, p.8)
The code of ethics are a guide of principles designed to help professionals conduct business honestly and with integrity.1Most organization have codes of ethics that its members are required to follow and it lays out the rules and acceptable behavior of its the members of ethics and which actions are acceptable or not acceptable business practices. One industry where professional codes of ethics is important is health care. Most health care workers belong to an accredited organization of their profession, such American Medical Association (AMA), American College of Healthcare Executives (ACHE), and American Nurses Association. They may also be required to have additional certification and rules they must follow based on the laws of the individual
Ethical egoism does not involve individuals to harm the interests and well-being of others when making decisions; what is in an individual's self-interest may be coincidently detrimental, beneficial, or neutral in its effect on others. Individualism allows for others' interest and well-being to be disregarded or not, as long as what is chosen is e...
J.S. Mill’s principle of utility is explained as actions are right as they tend to gain happiness, and wrong as they tend to reduce happiness. Mill defines happiness as, “pleasure and the absence of happiness is pain.” He argues that pleasure can differ in quality and quantity, and that more complex pleasures are ranked higher. Mills also places people’s achievements of goals, such as a virtuous living, should be counted as part of their happiness. When Mill states that the principle of utility is the “First Principle” of morality he is ranking the principle of utility highest because that in order to know what the boundaries of morality are, it is necessary to know how actions should be accounted. The first principle dictates the rest of the principles of morality because it illuminates what the right thing to do is, and that is to maximize happiness. Happiness is the goal of morality, and this is why Mill believes that morality must have a first principle.
How does one judge the quality of their life? Is is it based upon your own personal view or is it up to the scrutiny of your peers to judge if you lived well? For me, to live a good life you must positively influence those around you; this to me means that you not only do what is right for yourself but doing the same for others. I believe that you can take a simpler approach to this by saying that in order to live a good life a person must be a moral exemplar.
Many theories bombarded in an attempt to set a moral code by which people are ought to live by. Plenty of controversies and arguments are raised against each one. One of the controversial moral doctrines is egoism, or simply preferring one's self interest over other's interests and desires. The doctrine seems to be reasonable to a certain extent at first, yet it fails drastically when having a second thought about it. Throughout my essay, I will explain the different types of egoism, and argue for each one of them. Finally, I will provide counter arguments for each type along with my personal opinion and analysis.
For years, the matter of morality has been a widespread topic of discussion, debating whether it is a product of our chemical composition or our free will. Before I get started, I will provide you with what I believe morality exactly is. Ethics is a “code of conduct,” much like a University’s student handbook, but applied to the expected morality of a larger group or society. Morals are how individuals choose to interpret and follow such code. Just as a student may not always act in complete obedience with the student handbook, humans also deviate from their ethical codes of conduct. Therefore, morals are the set of a person’s specific values and opinions formed by their interpretation of their society’s code of ethics. With this version of the meaning of morality, I believe that individual free-will and the neurological hardwiring in which we are born with both significantly influence the development of our mature human morality due to a variety of factors including: human brain development, differences in our upbringing and education, which give rise to disparities in matters such as what is considered right or wrong, decision-making processes, and our ultimate behavioral choices, and lastly, because morality cannot exist if based solely on human nature, it must also involve our own self-determination. My position that morality is not the product of one side of the debate or the other, but rather arises through the integration of both components, allows for a complete demonstration of morality in its entirety. In this system, the ambiguities present in the one-sided arguments are removed, making it easy to link any individual’s action to their personal moral accountability.
The relationship between law and morality has been argued over by legal theorists for centuries. The debate is constantly be readdressed with new cases raising important moral and legal questions. This essay will explain the nature of law and morality and how they are linked.