Business Ethics

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QUESTION
Instructions and technical matters:
Please refer to the page in the course outline where I explain what I’m looking for regarding a short essay question. Do your best to follow the structure indicated and work to keep your responses concise with clear explanations and clear argumentation. When you make reference to a reading from our course texts, simply cite the author and the page number immediately after the quote. For example: (Bowie, p. 47) If you make reference to any works other than our course texts, a bibliographical reference, in addition to a simple notation after the quote, is required. Importantly, there is no requirement for extra research. It may even be detrimental. Additionally, you should avoid lengthy examples in order to make your point. If you go over 5 pages, double-spaced with font size 12 it may count against you.
I require that your essay have its own cover sheet. Make sure each cover sheet includes all the usual things; your name and student number, our course name and number, the date of submission
THE QUESTION:
In Chapter 15 of our course text, selected authors have asserted two broad-based threats posed by laissez-faire capitalism. The readings from Marx and Veblen express a threat to “the good life” from the commodity fetishism and pecuniary emulation that laissez-faire capitalism produces. Secondly, the readings from Kuttner and Reich express a threat to our democratic political institutions arising from the activity and products of laissez-faire capitalism.
1.Explain these two broad-based threats. Given the promise of prosperity that laissez-faire capitalism offers, as expressed in our reading from Smith, Mill and Keynes, do the two threats justify any restriction on, or qualification to, our adherence to laissez-faire capitalism?
2.Compare these two broad-based threats to the concerns Michael Sandel raises in his exposition in What Money Cant Buy.
3.Does Michael Sandels argument provide a more compelling justification for some restriction on, or qualification to, our adherence to laissez-faire capitalism? In particular, do his corruption and unfairness objections to our contemporary market society highlight a more pressing concern than either of the two above-mentioned, broad-based threats? Provide an argument in support of your response.

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