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'Philosophy 6: Ethical Issues in commerce Midterm Es pronounce label Novak Dr. Parker Need or Greed? tonic Protocol: How Drug’s spiritual rebirth as Treatment for cancer render Price Rises Im gentlemans gentlemanuel Kant-Kantian Deontology rump Locke- The Justification of mystic Property raptus metalworker-Bene follows of the Profit MotiveMilton Friedman- The accessible Responsibility of Business Is to Increase Its network Thesis: An examination of the case take apart New Protocol: How Drug’s Rebirth as Treatment for cancer Fueled Price Rises relies heavily on a keen understanding of the accessible and stinting implications of a capitalist system, and smorgasborderly taken into account it is clear that Celgene Corp. is reassert in fostering charges based on the ware line foodstuff philosophies asserted by Adam Smith, Milton Friedman, Emanuel Kant, and toilet Locke. Word opine: 1690Perhaps the most difficult situation in stemma arises when the in digent swear the convergence being sold. Political pressure is lots put on the familiarity to get down values in order to accommodate the little fortunate consumer, however, this is in direct counter shoot down with the comp both’s paramount name and address of making the largest profit possible. Issues are increasingly complex given the supply-demand aspects of golf-club and the motivator for action. For these reasons approaches to business that emphasize profit all over availability can indeed armed service order in many ways.Upon the interrogative sentence of ethics one moldiness(prenominal) skyline the spotless grocery store as a whole and the benefits of competition when deciding a fair price. An examination of the case watch New Protocol: How Drug’s Rebirth as Treatment for Cancer Fueled Price Rises relies heavily on a keen understanding of the mixer and economic implications of a capitalist system, and once taken into account it is clear th at Celgene Corp. is confirm in raising prices based on the business market philosophies asserted by Adam Smith, Milton Friedman, Emanuel Kant, and John Locke.Celgene’s last to raise prices is complex and though at first glance may pop to be fueled by rapaciousness it is in feature a inevitable and just step in Celgene’s continued intersection of the medicine thalidomide on with searching other medical advances. Celgene Corp. ’s closing to incrementally raise prices is justified by Adam Smith’s free market philosophy in which he describes competitive production as the main potency behind societal maturation and progress. though there has been little affect to the apostrophize of production for thalidomide, the nature of free market production dictated the rise in price.This, check to Smith is a inhering division of the free market, â€Å"As all(prenominal) individual […] endeavors as much as he can both to plight his capital in the support of domestic help industry, and so to direct that industry that its assume may be of the crackingest value, every individual necessarily labors to render the one-year revenue of the parliamentary procedure as great as he can” (Donaldson, 167). In this quotation, Smith is explaining how every individual’s personal strive for success, in the form of production, helps to improve auberge as a whole.If each individual’s last goal is to increase their wealthiness, and if increased wealth is sought by improved production, and and so the competition for wealth give doubtless result in improved production. improve production can mean each cheaper manuf hazarduring, resulting in lower costs for the consumer, or a better product, which depart also help community. Smith continues on to say that this competition is self-perpetuating and that the profit made mangle of production is reinvested to further improve manuf representuring. proof of this can be observed in the Celgene Corp. aising of prices on thalidomide which resulted in, â€Å"The ability to […] fund the pharmaceutic industry’s research and development programs, which bring new medicines to patients” (Donaldson, 151). This can be further proven by the fact that Celgene’s R&D plane section uses almost half of the company’s revenue (Donaldson, 154). In this example, Celgene is able to translate consumers with newer and more effective medication as a result of its competitive set of thalidomide. though many critics of Celgene would call the tum’s decision to raise prices a genuinely greedy and selfish act, Smith sees nothing wrong with much(prenominal) a move.On this issue Smith states that an individuals self-centered motives a good deal improve society: â€Å"By move his own interests he frequently promotes that of the society more effectually than when he authentically intends to promote it” (Donaldson , 167). Given Celgene’s perceived self-centered actions, Smith would note that this token of free market behavior is overconfident and is guided by an â€Å"invisible turn over” which helps such behavior to be beneficial to society as a whole. The conterminous philosopher to be examined would argue that the â€Å"invisible present” that Smith speaks of is indeed separate from the governmental realm.Milton Friedman continues with Smith’s line of logic as he asserts that the chief advert of the businessman must be to throw a profit under heartyly acceptable means and that the defining of â€Å" mixer responsibilities” must be left in the political sphere. Celgene’s chief executive, John capital of Mississippi, was the primary force behind the company’s decision to raise prices. capital of Mississippi’s actions are perfectly estimable according to Friedman who writes, â€Å"What does it mean to say that the somatic executive has a â€Å"social business” in his capacity as a businessman?If this statement is not clarified rhetoric, it must mean that he is to act in some way that is not in the interest of his employers” (Donaldson, 35). Jackson answers to a board that represents the stockholders of the company and it is his honest cartel to them to make a profit. Celgene was losing money until 2002, which manifestly necessitated an increase in price (Donaldson, 153). Jackson’s move to incrementally increase the price of thalidomide was not unhonorable because he has an stipulation to stockholders to deliver a profit.Furthermore, Friedman asserts that it is not the corporate executive’s job to act as a moral enterpriser as he is ill fit to do so. Friedman stresses that calls for executives to act â€Å"socially amenable” are unhonorable as socially impactful decisions, such as price adjustment, must be left up to in semipublic elected officials with kno wledge of the social and economic implications of such actions (Donaldson, 36). Friedman makes a vital point as it explains that the social responsibility move on the public and its publically elected officials to enforce social justices through legislature.Therefore if the public sought after Celgene to lower prices of thalidomide then it must require it to do so through law. Furthermore since no law exists requiring Celgene to remove thalidomide at a certain price, then Celgene is perfectly ethical and justified in raising its prices. If executives like Johnson adjusted prices according to their personal beliefs then huge portions of society would be heavily affected by such decisions and hence the public should constraint the the obligation way to solve such social dilemmas through democratic means in the form of law.Emanuel Kant’s philosophy of the â€Å" matt imperative” also works to ethically justify the pricing of thalidomide by expressing the impoveri shment for a universal standard of ethical practice. Though Kant would most likely desire a socialist utopia or at least complete universal healthcare, neither is realistic in the present day. In a Kantian society individuals would indirect request free healthcare for everyone. No ethical issues would be in question if everyone have their entire healthcare for free.The result is a derived understanding of his categorical imperative, which explains a desired scenario in which on party acts onto some other party in the same direction he himself wishes to be treated (Donaldson, 112). In this sense, under a capitalist system, Celgene is responding to the market by acting accordingly and raising its prices to increase production. The most basic element of ethics lies in John Locke’s philosophical explanation of product self-control and it works to prove Celgene’s right to raise its prices.At the very heart of business is the ownership of a private place which one ele cts to sell for a profit. gibe to Locke, God made the earth for man to exploit for his personal needs and thus it is logical that some men will not have common ownership of the land (Donaldson, 158). Locke’s philosophy on private property explains that man has the right to own property and that he completely can chose how to use his property. Using this justification, Celgene’s ownership of thalidomide entitles them to price it at any rate it sees reasonable.Moreover this justification is ethical because it comprises the touch on force behind production. If corporations like Celgene cannot defend the right to ask for their own price for the products that they produce then there exists no incentive to produce. As a society we cannot force companies to produce essential information, technology, or medicine without an incentive. That is not how society works. Rather, our society is functions under an incentive-based system, which uses competition to provoke the dress hat and brightest to produce the most important products for society’s use.If Celgene was made to sell their products at a price convenient for the consumer just crippling to the manufacturer then production would decline and society would falter. Thus to attend continued production and quality corporations such as Celgene must be allowed to handle business according to their best interests with deal to price. Society hinges on the expectation that companies will provide the food, goods, and medicine that it requires to function, however, certain elements must be in place in order to ensure the continued production of such commodities.As explained by Adam Smith, Milton Friedman, Emanuel Kant, and John Locke, society is improved by a free market system in which revenue from production is poured back into production to result in the overall improvement of society as a whole. Though some may see a raise in price as unfair, one must view such circumstances from the standpoin t of the corporation, as business is a constant back-and-forth between the consumer and producer.The overarching ethical theme of the case study focuses on the need to provide the medical sector with the necessary profits to continue its research and development programs in the efforts of advancing the entire field for the betterment of society. This is surely an ethical endeavor. Works Cited: Donaldson, Thomas, and Patricia Hogue. Werhane. Ethical Issues in Business a Philosophical Approach. Upper saddle River (N. J. ): Prentice Hall, 2008. Print.\r\n'