AUCKLAND UNIVERSITY OF TECHNOLOGY
FACULTY OF BUSINESS
ETHICS – 476680 ASSESSMENT 3, SEMESTER ONE 2012
ESSAY
Due Date: Tuesday June 5 at 12pm Weighting: 50%
Word count: 1,500 (+/- 10%)
This assessment tasks you with exploring the complexity of modern society and business practices. It draws on your critical thinking and academic writing skills. It requires you to demonstrate first and foremost your in-depth, critical understanding of course material covered in the second half of the Ethics course (week 7 onwards, i.e. Social Contract Theory, Justice and Economic Distribution, the Ethics of Economic Systems, and the Social Responsibility of Business).
You will carefully examine ideologies and ethical implications for society by referring to the course readings. You are required to illustrate your discussion with examples from Inside Job, as appropriate. For this assessment, you do not need to refer to extensive secondary research or other business examples. Any secondary research you undertake must be of high quality, academically relevant, and appropriately referenced.
You are required to choose ONE of the following questions and write an in-depth, insightful exploration of the issues raised by the statements and questions.
Question 1:
Using specific examples from the film Inside Job, discuss whether the political and economic system portrayed in the film improves justice in society.
Your answer should not be a statement of your own moral judgement merely, as in a purely reflective assignment. Rather it must employ, draw upon and apply relevant ethical theories and concepts from the second half of the course.
Draw on specific, relevant and clearly explained examples from Inside Job.
Use APA style (6th ed.) in-text referencing and provide a correctly formatted reference list.
SOLUTION
Political and Economic System in Society
Introduction
Political and economic system in the society is mainly justified by the type of government that is into power. That is what known asthe political kind of environment. Economic environment would mainly be reflected by the nature of money flow that is happening in the economy. Thus it is very important for all to understand these two aspects in the best possible way so that there is some amount of respect in the system and we are also able to know the true picture of the current state of affairs in the country.Political and economic system is being made by the representatives of the society andthus it is important for all to have agood look over what is being prepared.Casselam(2000) It would mainly be reflecting in the total state of affairs andthus it would be very difficult to change at the late stage. Thus the policies needs to be approved andthe negativities needs to be understood in the best possible way so that proper allocation of funds is happening in the country. Trust is the main point andpeople should have good amount of trust in the systems o that there is law and order that is maintained andtheir isgreat amount of money flows that is present.
Inside Job
In the movie we mainly saw about the American system in a bit more details and about the financial system that is happening in the country. The movie is in five parts and represents the total structure of political and economic affairs that is happening in and around America. I feel that the story is a true reality andtheir are a lot of aspects which touch the true picture. As per Sarah Stone (2010), they also have to understand the fact that people only make the political system andthat is truly reflected in the story. This is one of the biggest plus points that we have to understand the true picture and this would make sure that the country is growingalong with the people. In the movie we can see how the great housing bubble busted and what the major repercussions of it on the economy were. It took a major time and it also eloped a lot of good companies who were being settled in the country. Prominent ones being Lehman brothers who were being flown out of the wood.
Thus the moviegave a very true and accurate picture as to what is happening in the country.James Bowman (2010)The measures that werebeing taken up in the movie were also true and I feel that they were very good in all the respects. What happened after it was a total mess as poor people were being laid off and rich people with the influence of their money were able to get the things moving in the right direction for themselves. The top executives were able to get their board of director set up andthis turned out to be advantageous for them. When they received the bailouts from the government they were able to set the things right only for themselves and closed the companies. Thus at personal front they were fine andthey were getting the right response and the monetary help but at company’s stake. The company wasnow nowhere to be seen andthis was another major disaster that was about to happen. In actual also this was the thing that had happened. After I saw the movie I found out the true picture andthe hidden truth that no one knew in the whole recent debacle. What we were seeing is the ugly picture of the politics andhow people used their influence to movethingsaround in the political system.Stone(2004) We also have to understand the fact that people are the major suffers and this was truly portrayed in the movie as well.
In the last part of the movie we saw that how the Obama government is not able to control the flow of things. They are devising a lot of policies but of no use. This leads to more problems for the local people andthis is also what was happening in the country at that time. What I feel from the movie about the economic andpolitical system is that their should be an independent body which should be setup which can look over what is happeningand what is the state of affairs in the country. They should mainly be comprised of good independent economists andother top notch financial people who have good accounting and string economic sense. They should be looking at the economy and predicting as to where it is going. We should also understand from the bubble burst and do not commit the samemistake in the near future. The things andthe measures that were being taken up in the movie were totally correct and best to my knowledge.James(2000) It is only with the help of these measures that we would be able to judge what is happening andwe would be able to guide the ship in the correct path. I feel that the best and the correct way to do is by inculcating new economic and social policies in the country. We should be trying hard to resolve the current crisis andwe should have a clearmind-set as to what we are and what we would be doing in the current times.
As per Rayon Adams (2008), economic policies needs to be revamped from time to time. It needs to be understood from a clear viewpoint as to what is the main source of problems. Our economists should be able to judgethe true picture andwe shouldlook forward for these things to be happing in the correct way. Then only would our economy be on the correct pathand we would be able to see the changes happening. The political system should be more towards people benefit policies rather than being capitalistic. A lot of people lost their jobs in the recent past because of recession. This type of thing only increases the pressure on the people and their would be more problems that would be coming in the neartimes. Hencethe policies should be made in the best possible way so that there is no problem to anyone andthe country and take political system goes in the correct path.
Conclusion
Economic and social issues and policies needs to be framedout in bets possible way so that there is good upbringing of it and the political system is right on track. We have to understand the policies and as a common man we must also have our say on the same. We should be agreeing or disagreeing with the policies in order to have a close andtrue picture andlater on we must not cry if something bad happens. The movie Inside Job portrays a good and true picture of what is happening in the economy.Roger(2010) Needless to say we have to agree to some points which were being discussed in the story. We also have to understand the point that economic activities happens with the help of demand and supply.Sarah Stone(2010) If there is more demandtheir would be rise in process and so on. Thus we have to keep a check on the prices of the commodities by monitoring the demand and supply. At last, I feel that the movie Inside job portrayed a clear vision on the policies that needs to be adopted on the law as of now. Wehave to clearly understand the policies and we must ensure that these policies are brought into picture soon as that we are able to see a strong America in the coming years.
References.
Casselman, Ben (January 9, 2012). “Economists Set Rules on Ethics.
Ebert, Roger (October 13, 2010). “Inside Job.
Bowman, James (November 3, 2010).
Adams, Ryan (October 18, 2010).
Stone, Sarah (December 27, 2010).
Inside Job at the Internet Movie Database.
Bowman, James (November 3, 2010). “Inside Job”.The American Spectator.Retrieved July 23, 2011.
LE16
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