Morality_of_Profit

The Morality Of Profit Idea outline Broken down into: 1. History of profit 2. Cases of immoral profit 3. Cases of good profit that benefit human kind 4. Closing paragrah (Intro) (Scott idea of small business man making an honest profit to large corporations taking advantage of people) History of profit: Ever since the history of man there has been trade. In the beginning, people bartered. Eventually money was used and used in the business of profit. Metals objects were introduced as money around 5000 B.C. By 700 BC, the Lydians became the first in the Western world to make coins. But in the quest of making a profit and honest living took a turn and man realized that profit meant power. Sometimes he began to see the advantages of making a profit in the name of personal gain and greed. It became more than just profit to survive it became profit for control. Throughout history honest profit and dishonest profit has been practiced. In honest profit we seek profit from the fruits of our labor. But in dishonest profit everything has a price tag and everything from slaves being sold, to imposing taxes on the poor, to scams large and small are committed in the name of profit. Throughout history man has used many emotional betrayals to take advantage of good hearted souls to gain profit. From religious scams, quick make a buck scams, large pharmaceutical business deals , real estate scams, internet scams, large political scams and personal scams. The morality of profit is the question. How does man allow for profit to take priority over caring for his fellow man' In the U.S. every day from the time we wake up we are faced with people trying to profit from us in honest and dishonest ways. Sometimes we don’t even know it till it affects our lives later. Cases of immoral profit Bernnie Madoff idea: The Bernnie Madoff scandle was recently one of the biggest cases to address the Morality Of Profit. In the quest for profit this individual was key to the loss of income for many individuals and companies. With promises of wealth to many he robbed from peter to pay paul till he could no longer keep up the game. Health Industry idea: Profit at the cost of morality in the heath industry appeared in the news. Importation of an unchecked pharmaceutical drug “Heparin” which is used on dialysis patients was making news . Heparin is made from pig intestines. The majority of the world’s pig population exist in China. In 2006 an epidemic wiped out most of the pigs leaving Chinese manufacturers of the drug to seek out another way to manufacture the drug. A large profit could be made using a counterfeit active ingredient over-sulfated chondroitin sulfate. It was designed to fool quality-control testing by mimicking the authentic active ingredient in heparin, but patients suffered deadly and severe complications from the drug. The drug was unchecked by the FDA and brought into our country and distributed to our hospitals and dialysis facilities beginning Oct of 2007. The drug was immediately recalled in Jan 2008 when more and more people reported symptoms of nausea, low blood pressure, shortness of breath and even death after having received the tainted Heparin. Was the patient being though of when the manufacturer and distributor were making and distributing this drug or were they thinking of their profits' The Morality of Profit can be questioned. Manufacturing Video game systems idea: One of the largest successful businesses in the nation is the game system industry. How can a business survive during this recession' Could the answer be a sound business plan' Or can outsourcing outside the U.S. be the answer. Many of the game systems depend on a metal which is mined in the country of India. In order to mine the precious mental small mine caverns are created much to small for an adult to crawl though. Children are used to crawl into the mines to manually chip away at the metal to bring to the surface. The metal is then sold and brought to the U.S. for use in game systems. Nobody objects and companies profit who use child labor to work long and dangerous hours for little pay. Once again The Morality Of Profit can be questioned. Real Estate profit scam idea: Our world is currently facing economic hardships not seen in our nation since the 1930’s. Only a few years ago our nation was experiencing what seemed like a strong economy. People were buying homes and banks were lending. But banks were giving out loans to people who unsuspected what the future held for them in the next few years. Recently the American Dream was foreclosed upon , and it took place in our own back yard nationwide. Millions of Americans lost their homes and the American dream. How could it be that the same banks that enticed and gave the American public a way to buy that American dream home turn the other cheek when Americans needed help the most. Balloon payments were becoming due, the unemployment rate climbing. Yet systematically one by one homes were being foreclosed upon, leaving families homeless. It is clear now the banks seemed to have a plan to let Americans fail as a homebuyer. What is better for the banks' Your monthly payment or your real property' Your real property is worth more and because you defaulted on your loan, the banks had the right to take it. Down the road there was to be a bailout by the government to the banks to give billions of dollars to them to cover their losses in default mortgages. When millions of Americans went to negotiate a payment plans with their bank, they got the run around. It seems that America had been scammed. Yes ultimately we are responsible for ourselves when making purchases, but with the promise of homeownership a better life, we were sold the idea life would work out and we would be able to live the American dream in our homes for years as our parents did. What a perfect plan it seems. The banks got rewarded for such deceptive scam. The public paid for it with American tax money. Now the banks had the foreclosed properties and bail out money to start over. The words of Jerry Maguire never resonated throughout the banking industry as they did in the last few years “Show me the money” Did bank CEO’s hold meetings years ago and know all about this' Nobody will probably speak up who knew for fear of losing their own job. In my neighborhood as in millions nationwide homes sit silent and dark unoccupied. Thomas Jefferson presedent 1801–1809 Stated "If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." Even Mr. Jefferson knew over 200 years ago that morality and profit don’t mix all the time. Next present Good Points: NEED POSITIVE PROFIT STORIES how profit is good Example: Profit is good to further medical research, to make new inventions for the betterment of life ect. With profits companies can grow and offer more employment opportunities which in turn offers people opportunities to prosper and provide for their families. Closing paragraph idea: Business is based on the idea that self-interest and the desire for profit are moral and good and that there are inappropriate and appropriate ways to profit. One’s survival and flourishing as a human being involves the creation, preservation, and use of wealth in self-fulfilling ways. Business is concerned with what is important to people’s lives and is a fundamentally moral activity. Wealth enhancement is the dominant goal or end of business activity. At root business is morally legitimate because the wealth it seeks is necessary for human existence and can be attained through non-opposing voluntary actions between individuals. Business professionals devote themselves to securing prosperity – which is a valid end of human life.