The paper "Sustainable Management Futures" is a great example of a management essay. Examining the ethics and morality of “ let capitalism rip” allegations made by British Prime Minister David Cameron using free-market perspectives demand that a clear and concise definition of capitalism and an assessment of its application and outcome as outrightly alleged by the Prime minister. In addition, we ought to give the principles of popular capitalism to bring out the contrast as wells as identifying different types of markets. To start with capitalism in the market context could be defined as a system where no controls and regulations are imposed to interfere with demand, supply, and the prices of services commodities it is the laissez-faire system.
With capitalism, the right to own wealth is highly regarded and the state has little interference in business however its role is to ensure that there is no violation of the rights of persons. On the other hand, there are two main types of markets namely the controlled market and the free market. A free market is the one described in the early parts of this paragraph.
This is the market where market forces such as demand and supply determine the prices and direction of production and investors rip the profit while the consumer derives satisfaction from their services. Cameron alleges that the preceding government had ignored the cooperate excesses and the results saw a few at the top rip the benefit. He argues that a better economy would be developed with increased market freedom. With reference to ethical theories, the utilitarian theory of ethics market perspectives states that a system that is bound to benefit the majority qualifies to be ethically right.
The theory states that prior to the application of a chosen system the applicant should be in a position to foretell and settle on the best option driven by profit. However, it is almost possible to predict the future and where similar incidences are used to form the bases sometimes the outcomes may not be the same. Therefore, according to this lens, we would conclude say that the preceding government was acted unethically and that Cameron’ s proposal if applied would be ethical.
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