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Do businesses have an ethical duty to be aware of the compulsion of some consumers to...

Do businesses have an ethical duty to be aware of the compulsion of some consumers to overspend in a free enterprise system like America? What ethical framework might be appropriate for such an issue?


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Answer #1

The businesses have a duty towards the society, it is an ethical duty. The companies should be aware of the spending habits of the customers it is catering. It should do sufficient amount of surveys to know the consumer needs and also the business needs and latent demand.

Now, there should be a compulsion of some rich customers to overspend because 95% of the wealth of whole world is with 5% of the people of the world.

For an effective economy to work like a free enterprise economy like america these customers should be made spending only then demand supply curve will suffice.

The ethical framework can be designed like responsibility towards society or social responsibility.

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