Psci 231 Midterm Review - 2130 Words

Section One: 1. What is, â€Å"Utilitarianism† and why is it important to the study of businessgovernment relations? Utilitarianism is a usually described as the greatest happiness for the greatest number. It reflects the action that produces the most happiness for people; meaning that an action is good if it produces a higher ultility of happiness. The thoery treats all members of a society equally, balances the inequalities in wealth between rich and poor people and justifies human acts. For example, consider a single mother stealing baby formlua. In this case, the mother is not harming anyone else and her baby is getting the food it needs. The happiness of the mother is justified because her actions did not harm anyone, and her baby having†¦show more content†¦Fairness or equity is another important category used by normative theorists. When talking about fairness, the example of the economic pie, as discussed in class comes to mind. Economic efficiency makes attem pts to increase the size of the economic pie. Fairness (equity) is how this economic pie is ultimately distributed throughout various institutions within the state. Ethics, morality, sanctity of life, and freedom from discrimination are also factors of fairness; a prime example would be the Canadian healthcare system. The healthcare policy in Canada dictates that all individuals should receive equal level of health care. Also, this public policy protects the interest of individuals who are unable to protect themselves such as children. Finally, Other social objectives can be defined as government aims that are not related to the other three categories. For example governments may try to promote national unity or culture as a goal and promotion of certain community values by putting limitations on alcohol and gambling. Normative rationale for policy must be based on at least one of these four categories. Section Two: 1. The documentary, â€Å"Inside Job† provides an interpretation of the causes and consequences of the 2008 global financial crisis. Is this interpretation compelling? Be sure to include institutional, ideological and interest factors in your analysis. The movie, the