Business Ethics and CSR

Explore the concept of business ethics and corporate social responsibility (CSR) in this study material. Understand the arguments for and against inheritance and its impact on capitalism and freedom. Evaluate different perspectives on inheritance and its role in wealth distribution. Discover the feasibility of abolishing inheritance and its potential effects on taxes and general welfare.

Running Head: BUSINESS ETHICS AND CSR
BUSINESS ETHICS AND CSR
Name of the Student
Name of the University
Author Note

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Table of Contents
Answer to Question 1.................................................................................................................2
Answer to Question 2.................................................................................................................2
Answer to Question 3.................................................................................................................2
Answer to Question 4.................................................................................................................2
Answer to Question 5.................................................................................................................3
Answer to Question 6.................................................................................................................3
Answer to Question 7.................................................................................................................3
Reference....................................................................................................................................5

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Answer to Question 1
Haslett has correctly identified the fundamental ideals underlying capitalism.
According to Haslett, in the people minds, there is the thought that with the inheritance,
capitalism goes hand to hand and without inheritance, capitalism will be absurd. Capitalism is
that system of economics under which there is the determination of what to produce and in
what quantity by the demand and supply as well as for most of the parts of capital goods is
privately owned. There is incompatible practice of the inheritance with the basic ideals or the
values that underlie capitalism, in case if anything is capitalism with the inheritance then that
is absurd. The inheritances are contrary to those of the ideals and in case if it is then it follows
that the ideals are worthy of the support, then it can be concluded that inheritance is
unjustified.
There are three ideals identified for the fundamentals ideals underlying the capitalism.
The first ideal underlying the capitalism is distributing income according to the productivity.
Wealth that the people get by the inheritance, which has nothing to do with the productivity.
The second ideal underlying capitalism is having equal opportunity for being productive.
Lastly, the third ideal underlying capitalism is liberty or freedom that takes different forms
(Haslett 1986).
Answer to Question 2
Yes I agree with the fact that inheritance violates the equality of opportunity
principles. It is because wealth includes opportunity and there is unevenly distribution of
wealth by inheritance. In order to achieve one’s potential, wealth is the opportunity for the
career, success and the income. For the extent of tmeasuring one’s success in the terms of
one’s income and not by intelligence, skills or the educations, it provides the secure
opportunity for the success than what wealth does. If the worker in factory are paid very less

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then why cant they become big investors themselves, it is because in the ir entire lives they
are barred for doing so because of the lack of the initial capital, which others can already
have through inheritance. No, abolishment of it would not promote the productivity as well
as income distribution which is fairer even by the capitalists standards. It is beacuse people
get the wealth from the inheritance has nothing to do with the productivity (Haslett 1986).
Answer to Question 3
Haslett has made argument that the abolishment of the inheritance would not be
violating the commitment to freedom of capitalism in the narrow sense but it would be
enhancing the freedom of people in the broad sense. According to the conceptiop of
freedom , to be free is referred to have the opportunity and the ability to what one wants such
as rich people are freer as wealth provides them the opportunity for doing things which poor
people can only see in dreams. Inheritance and its abolishment may not be inconsistent with
the ideal of freedom. This ideal forbids the interference of the government with the free
exhanges between the people that is it does not necessarily forbids the interference of
government with the gifts and the bequests. Free exchanges helps in promoting the “invisible
hand” that means it promotes healthy functioning of the demand and supply, which is the
heart of the capitalism. Therefore, demand and supply hardly requires gifts that is opposed to
tehv exchanges for functioning well. Hence, in the narrow sense, inheritance does not
receives any supports from the freedom.
Answer to Question 4
Haslett has overlooked the arguments in the favour of inherittance. It is because
abolishment of the inherittanec would not decrease the overall wealth, howevr, it would
distribute the wealth more evenly. It folows this by the abolishment of the inheritance, in the
broad sense, there would be some of the gain in freedom that is attributable to diminishing

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marginal utility of the wealth. Moreover, abolishment of the inheritance would increase the
freedom by increasing equal opportunity. Those who does not start their life with with having
the inheritted significant funds, they starts their life relative to those who do, with the
amounts to the significant handicap. Therefore, abolishing of the inheritance would starts
everyone at the equal level that would leave those who would suffer the handicap more free
in the broader sense. No, abolishment of the inheritance does not voilates the moral rights of
anyone.
Answer to Question 5
Utilitarian evaluate the inheritance by providing equal distribution of the wealth.
libertarian evaluate the inheritance as the abolishment of the inheritance is compatible with
the capitalism as captalism promotes distributive, freedom and equal opportunity that
promotes distribution according to productivity. Moreover, rawisian evaluate the inheritance
as the using it for the general public welfare. This requires the governmant for selling it on
the open market to highest bidder of any real property that includes any of the shares in the
corporation that is received from the estrate of anyone and it is done in the certain time
period. Hence, for the government it will be helfull for serving general public welfare
(Haslett 1986).
Answer to Question 6
Haslett proposal for the abolishment of the inherittance is feasible. It is because the
proposal of the abolishment of inheritence of all the large gifts will be helpful for avoiding
the law abolishing the inheritance will be avoided. Under this, the estate of the person will
pass to the government for the general welfare.
It should be modified by implementing it into the right direction and abolishment of
inheritance for all the public. Moreover, the obections regarding the exceptions should be

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worked upon. The most common obection for the abolishing of the inheritence has the
obection that in case if the people were not allowed for leaving their wealth for their children
then they woul dbe loosing incentivefor continue to working hard that results into falling of
the national productivitity. If the people who does not intend for having the children, they are
not motivated by the desire of leaving their children the fortune that do not seem for working
less hard than any one else. Therefore, evidence of more technical nature leads to same
conclusion that people generally does not need to be motivated by the desire of leaving their
children great wealth for motivating to work hard.
Answer to Question 7
Adopting the proposal of Haslett would make it possible for abolishing federal as well
as state taxes on the income. The system that should be adopted should be Haslett system. It
would be much fairer as compare to the current system because if the proposal of the
abolishment of the inheritance of all the large gifts will be done then if there is no
abolishment of such gifts then the law of abolishing inheritance will be avoided very easily.
Moreover, the current law allows for the payment of tax free of $10,000 every year that is the
very large figure for the purpose of the law abolishment of inheritance. Hence, with drawing
the line in part also by distinction means between on the one hand the consumer goods, which
can b eexpected within ten years either consumed or it is worth less than half of their current
value and on the other hand all the other goods. The general point for this is the fact that for
aavoiding the obvious loopholes, the gifts are to be abolished along with the bequets. Apart
from this, it will facilitate generl welfare (Haslett 1986).

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Reference
Haslett, D.W., 1986. Is inheritance justified?. Philosophy & Public Affairs, pp.122-155.