I would like to say first of all that I liked the article and I agree with you. The part I want to add and emphasize is that the accounting professor was not necessarily wrong since he was teaching accounting, and in this world, ethics governs most laws, because the purpose of accounting laws and regulations is to present a clear and truthful representation of the financial situation of the company for the purposes of investors. So in this world, legality determines ethics and ethics determines legality. I know that`s not what you talked about, but I think you should keep that in mind and could help explain it to students like the one you mentioned in the article, because I also see that as ethical respect for other teachers. I enjoyed reading this, but thanks for sharing. In the 1970s, the speed limit on federal highways was lowered to 55 miles per hour, not to save lives, but to reduce domestic oil consumption. So speeding was illegal then, but can we consider it immoral today? Better yet, from their perspective, they may charge depositors a fee to speak to a cashier, a fee for a low balance, a fee for using the ATM, a fee for ordering checks, a fee for bouncy checks, and a few extra fees for other services for extra profit and good measure. Then, if the depositor chooses to borrow, they may charge loan fees, loan service fees, annual credit card fees, and interest on credit cards and loans. All of this is completely legal and fully disclosed and can be confusing to the average customer of the bank. So what happens when the “little guy” realizes he`s been wronged by a big company? In most cases, he will likely sue the company. However, since the little guy usually can`t afford the legal representation needed to fight a corporate giant, he`s looking for a lawyer to represent a huge group of shareholders in a similar situation. Rules and laws exist to protect and promote the functioning of communities. But therein lies one of the many eternal problems of the chicken or the egg: which came first, conformity or ethics? We might be inclined to think that laws stem from moral beliefs about what is right and wrong.
But there are many interesting examples that challenge the perception that laws emanate from morality. 05. It`s illegal to rent a car or apartment in your name for someone else who wouldn`t otherwise qualify, but it`s an ethical thing if it`s supposed to help them succeed in life. But what`s more alarming than a politician bending the rules is the ease with which his supporters often invoke, “Well, it`s not illegal.” Let`s go back to the schoolyard for some helpful reminders of our social norms. We are alarmed by bullying, and not only do we tell children not to bully, but we also reprimand children who turn a blind eye to bullying. We tell our children to raise their voices, stand up for the weak, etc. Similarly, whistleblowing is promoted by many national organizations, universities and even the federal government. Please explain what you think is the difference. These words are used differently by different people and in different literatures.
In at least one traditional use, they are interchangeable. And anyway, I don`t know of any use of the term “ethics,” according to which I would be wrong to say that lying is unethical. 03. The death penalty is also legal in many states, but many people consider it unethical. 03. It is illegal to cross a traffic light or speed, although it is ethical and legal if someone`s life depends on it. As if we had to take him quickly to the hospital. The Trump administration has highlighted one of the most questionable actions of companies (especially in China) theft of intellectual property. Although this class of corporate shares is borderline legal and illegal, it is an attempt that may have helped some Chinese companies achieve greatness. Huawei, for example, has put a lot of pressure on its competitive culture, which seems to encourage copying and stealing intellectual property for its own benefit. How many times have you heard someone say, “Well, it`s not illegal!” Then there are the cases where Delaware is used to evade taxes.
In a recent example, Weitzman said Home Depot transferred its trademarks to a newly formed holding company in Delaware and then paid them to use their trademarks. And that tells part of the story of the cost of this process, Weitzman said — other states are losing billions of dollars in taxes. Based on Blodgett`s recommendations, Merrill Lynch`s brokers actively sold these “rotten” shares to investors. Client portfolios suffered heavy losses due to the collapse in technology stocks. Blodgett`s actions, while highly unethical, were still legal. As a result, he was banned from the industry, not because he was promoting stocks he didn`t like, but because the companies he promoted were clients of Merrill Lynch`s investment bank, creating a conflict of interest. Today, investors trust Wall Street analysts a little less than they did before the Blodgett fiasco. Other tactics can exploit harmful addictions by eliciting emotional responses. Casino ads featuring enthusiastic winners throwing money in the air are a great example of this in a world where people can ruin their lives with a gambling addiction.
