You are head of a group making a decision about whether it is appropriate to discontinue research on a new drug. This new drug estimated to save up to 10,000 lives each year. Your firm has already spent a small fortune on this drug. However, new information implies that the drug can cause life threatening organ damage in 1 out of 250,000 patients.
- What is the ethical paradigm that you would most likely use in making your recommendation? Support your answer.
- The Federal government made a decision at the beginning of the SARS-Covid 19 pandemic to shut down businesses causing 48 million jobs lost. The objecting was to save hundred thousands of lives. At this point in the pandemic 125,000 lives have been lost, about twice the number lives lost during a typical flu season.
- Was the loss of jobs and damaged economy worth it? Explain. Support your answer.
- What is the ethical paradigm that best explains your answer in 3 above? Choose from deontological, ethical egoism, utilitarianism, emotivism, ethical relativism.
Explain. Support your answer.
Part B.
Society mandates ethical behavior by organizations through laws (a) regulating competition, (b) protecting consumers, and (c) promoting equity and safety of employees. (See your textbook or research the Internet).
Select ONE law from each of the three categories (above) and research the background and significance of the law in establishing ethical norms for organizations.
