Philosophy and Price Fixing Price Research Paper

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Price Fixing and Philosophy

In looking at price fixing in terms of philosophy, one can apply many ethical theories in order to understand the motives of such individuals who employ it as well as help individuals understand why the practice itself is an unethical one. In beginning a philosophical assessment, one can first look at several consequentialist theories, which employ a general cost-benefit analysis to one's actions.

University of Tennessee professor James Fieser (2010) notes that consequentialism states that an action is morally right if the consequences of that action are more favorable than unfavorable, and this applies directly to executives who believe that should they engage in price fixing and get away with it, the consequences will bring in significant profits for a company and therefore will benefit the company collectively as well as themselves (Feisher, 2009, p.1). In viewing this in such a manner, one can more directly see the internal thoughts of executives who are looking for a way to internally justify their actions before employing them.

Further, one can employ the theory of ethical egoism to these executives, who deem that their actions are morally right if the consequences of that action are more favorable than unfavorable for themselves.

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Ethical egoists essentially look out for themselves alone in determining their actions, and this can be viewed as true in terms of executives engaging in price fixing. Though these individuals generally assert that the good of the company is their utmost priority as stated above in looking at the basic definition of consequentialism, the final decision to engage in such action comes down to the question: how will this affect me? Through back-room dealings unknown to many members of a company, the individuals who establish price fixing are clearly looking out for themselves alone, but use the guise of altruism for the company to make such behavior seem justified in their own minds.

Conclusion

In reviewing the basic definition of price fixing and applying it to the business world as well as the philosophical one, one can see that engaging in such an agreement is clearly unethical as it sidesteps the basis for general good and moves into an area of sell-fulfillment through the manipulation of others, making the tactic generally unfavorable in life as well as the business world......

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"Philosophy And Price Fixing Price" (2011, September 19) Retrieved July 5, 2025, from
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"Philosophy And Price Fixing Price", 19 September 2011, Accessed.5 July. 2025,
https://www.aceyourpaper.com/essays/philosophy-price-fixing-price-45532