Major Ethical

Philosophers
Lesson 6
 Classical Philosophers
Plato (428 BC – 348 BC )
Greek Philosopher
Student of equally great philosopher
Socrates
Many scholars view him as the most
important philosopher of Western
Civilization
 Plato’s contribution to ethical studies
They are regarded as the basic virtues required for a virtuous life
1. Prudence - the ability to discern the appropriate course of action to be
taken in a given situation at the appropriate time.
2. Courage - also termed fortitude, forbearance, strength, endurance, and the
ability to confront fear, uncertainty, and intimidation
3. Temperance - also known as restraint, the practice of self-control,
abstention, discretion
4. Justice - also considered as fairness, the most extensive and most important
virtue;
 Classical Philosophers
Aristotle (348 BC – 322 BC )
A student of Plato’s Academy
He founded his own school, The
Lyceum
Aristotle believed that man was born
with knowledge
 Aristotle on Teleology
Teleology - It is derived from two Greek words: telos (end, goal, purpose) and
logos (reason, explanation).
• the belief that everything has a special purpose or use
• Character traits must be put into action. A person who possesses excellent
character does the right thing at the right time and in the right way.
 Virtue Ethics (Aristotle)
Aristotle argued that virtues are good habits that we acquire, which regulate our
emotions.
The Golden Mean - Mean refers to feelings/actions that are between a state
of excess and deficiency.

VICES
Example:
Courage is a virtue, but if taken to excess would manifest as recklessness, and,
in deficiency, cowardice
The importance of the golden mean is that it
re-affirms the balance needed in life.
 Classical Philosophers
Immanuel Kant (1724 – 1804 )
Brought up in the spirit of pietist movement
He wrote the famous “Critique of Pure
reason
 Kantian Ethics (Duty Ethics)

Kant focused on motives and the willingness of

individuals to act for the good of others, even
though that action might result in personal loss.
Doing something for the right reason was much
more important to Kant than any particular
outcome.
 Kant’s Categorical Imperatives
• “Act so that you treat humanity, whether in your own person or in that of
another, always as an end and never as a means.”
NEVER USE PEOPLE.
Treat people as an end, and never as a means to an end. That is, we should
always treat people with dignity, and never use them as mere instruments
 Utilitarianism (Consequence-based Theory)

Jeremy Bentham (1748 – 1832 )

English Philisopher
It is a theory about ethical action and
a proposed method for deciding how
one should choose the right ethical
act.
 Bentham’s Theories
1. Act-utilitarianism (Hedonistic
Utilitarianism) - it is the value
of the consequences of the
particular act that counts when
determining whether the act is
right or wrong.
From the Greek word “hedone”
meaning delight or happiness
 Bentham’s Theories
2. Rule-Utilitarianism - an action is
right as it conforms to a rule that
leads to the greatest good.
 Morals Vs. Ethics
Ethics – From the Greek word ethos meaning character or custom.
A set of standards governing behavior.
It refers to broader-based, value driven rules.

Morals – Morality deals with principles of right or wrong conduct in general.

 Three Ethical Theories
1. Virtue Ethics (Plato, Aristotle ) – emphasizes virtuous, or moral character,
It focuses on the desirable characteristics that a virtuous person should
embody.
2. Deontological Ethics (Immanuel Kant) – emphasizes on adhering to ethical
principles or duties
3. Consequentialism – bases the morality of an action upon the consequence
of the outcome.
 Business Ethics
Business ethics is concerned with the attitude of the businessperson in
conducting business, by inculcating morality in his business. It propagates
welfare of society, increases profitability, improves productivity and foster
business relationship.
 Set of Principles and Practices
• Stop business malpractices Protecting the environment
• Safeguarding consumer’s rights Protecting the culture
• Gain confidence of customers
• Survival and growth of business
• Creating goodwill
• Healthy competition
• Consumer satisfaction.
• Building strong relationship with customers and clients
 Insider Trading
Businessman A – major stockholder of a prosperous and fast-rising company,
has access to information than that of a a smaller and less financially sound
competitor, Company B.
Company B was going to be absorbed by a third competitor, Company C.

Businessman A Son of the major stockholder of Company B

Hates his father
Insider Trading
The son gave the information to
Businessman A so that Businessman A could
buy shares of company B while it was still
low. Price would sure go up after the
takeover.
The son offered the information on the
understanding that Businessman A would
share him the big profit.