Past and present economic choices from the perspective of ethics – a case study

Abstract

By adopting an empirical and rational approach, this article investigates the influence of ethics on decision-taking in business based on case studies dating back to 50 years ago. It contrasts theoretical principles of ethics and the actual market activities of businesses by taking a closer look at two ethically controversial events from the automotive and pharmaceutical industry where human life and health was at risk. The foregoing analysis demonstrates that, where profit maximisation is at stake, businesses are prompted to take advantage of imprecise laws or absence of legal provisions, and manipulate data to protect its interests at the expense of product liability and consumer/patient safety