Question

The ethics of globalization and financialization should not be overlooked. For many, the push for free trade and deregulation of financial laws is based on the belief that “the social caboose [is] pulled by the economic locomotive.” Which ethical frameworks in Chapter 5 (utility, liberty, duty, fairness, virtue, and care) are consistent with this belief? How would the remaining ethical frameworks challenge this belief?

Answer 1

Liberty, utility, duty and care frameworks are consistent with this belief. The belief is that there will be trickle down of economy when there will be economic growth. The economic opportunity provided by globalization will pull out the social malaise and vicious cycle of social bias and inequality. people will get opportunity and their life will fill with wealth and choice due to globalization. This four frameworks are closely related to this and the remaining ethical frameworks are against it. When there will be globalization the chance of fairness will be low because globalization search for the place where there is economic opportunity and infrastructure. Globalization is also synonymous with vice and greedyness.