Kantian Duty Based (Deontological) Ethics

January 29th, 2013 by Kara in Essays

Introduction The term deontology comes from the Greek word deon, meaning duty. The theory of deontology states we are morally obligated to act in accordance with a certain set of principles and rules regardless of outcome. In religious deontology, the principles derive from divine commandment so that under religious laws, we are morally obligated not to steal, lie, or cheat. Thus, deontological theories and duties have existed for many centuries. Immanuel Kant, the theory’s celebrated proponent, formulated the most influential form of a secular deontological moral theory in 1788. Unlike religious deontological theories, ...

What is the Purpose of Finance?

January 15th, 2013 by Kara in Essays

In her Financial Times column this week, Lucy Kellaway observes, quite correctly, that a child’s question is simple, profound, and usually of the first order variety. She writes of a little girl who asks on the ING Careers Facebook page,  “What do bankers do?” The question is important because the answer to it indicates the purpose of the banker. Here is one answer: Bankers work to fulfill the purpose of finance. The child will ask: what is the purpose of finance? Here is an answer: the purpose of finance is to help people ...

Nationalization: Argentina vs. Spain, the YPF Repsol Case

January 6th, 2013 by Kara in Case Studies

On December 9th, 2012, YPF announced it was in talks with Norway’s Statoil to start a potential partnership. Argentina is close to signing deals with Chevron, the US oil major, and Bridas Corp, the Sino-Argentine joint venture. These deals are crucial if Argentina, lacking its own capital, is to develop its massive energy reserves. Will Argentina succeed in securing these deals after the country nationalized YPF from Spanish oil company Repsol? During the European debt crisis in early 2012, Spain received upsetting news from Argentina: President Cristina Fernandez Kirchner announced the renationalization ...

The Ethics of Taxation Trilogy: Part II – The Buffet Rule: The Ethics of a Millionaire’s Tax

January 6th, 2013 by Kara in Case Studies

What are the economic and ethical implications of a federally imposed tax on those making more than $1,000,000 annually? The answer comes in four parts. The first outlines specifics ofthe controversial millionaire’s tax, recently proposed by President Obama. The second part discusses the economic ramifications of the proposed millionaire’s tax. The third part  views the ethics of the proposed millionaire’s tax. The fourth part suggests a policy based on Aristotle’s principle of the Golden Mean.  Part 1: “The Buffett Rule” In September, 2011, President Obama announced a proposal which claimed that by 2013, ...