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Philosophy 6 Ethical Issues in blood line Midterm Es hypothesise Chase Novak Dr. Parker Need or Greed? impertinent communications protocol How Drugs Rebirth as Treatment for crabmeat fuel Price Rises Immanuel Kant-Kantian Deontology stern Locke- The Justification of Private Property raptus Smith-Benefits of the Profit MotiveMilton Friedman- The Social Responsibility of Business Is to Increase Its Profits thesis An examination of the case study New Protocol How Drugs Rebirth as Treatment for Cancer Fueled Price Rises relies heavy on a keen understanding of the kind and economic implications of a capitalist system, and once taken into account it is actualize that Celgene Corp. is justified in upbringing sets based on the business commercialize place philosophies asserted by Adam Smith, Milton Friedman, Emanuel Kant, and John Locke. Word Count 1690Perhaps the most difficult situation in business arises when the indigent desire the product being sold. semi semipolitical pre ssure is often put on the ac follow to lower prices in order to accommodate the less fortunate consumer, however, this is in direct impinge with the companys paramount goal of making the largest feeler possible. Issues atomic number 18 increasingly complex given the supply-demand aspects of decree and the incentive for merchandise. For these reasons approaches to business that underline profit over avail big businessman put up indeed help gild in many agencys.Upon the question of ethics one essential(prenominal) visual sense the entire grocery store as a whole and the benefits of opposition when deciding a fair price. An examination of the case study New Protocol How Drugs Rebirth as Treatment for Cancer Fueled Price Rises relies heavily on a keen understanding of the social and economic implications of a capitalist system, and once taken into account it is clear that Celgene Corp. is justified in raising prices based on the business market philosophies asserted by A dam Smith, Milton Friedman, Emanuel Kant, and John Locke.Celgenes decision to exalt prices is complex and though at first glance whitethorn pop to be fueled by greed it is in detail a necessary and beneficial step in Celgenes proceed output signal of the medicine thalidomide along with researching other medical advances. Celgene Corp. s decision to incrementally plagiarise prices is justified by Adam Smiths free market philosophy in which he describes competitive production as the primary(prenominal) force behind societal development and remediatement. though there has been midget affect to the cost of production for thalidomide, the nature of free market production dictated the rise in price.This, according to Smith is a vivid element of the free market, As every individual endeavors as untold as he fuck both to employ his capital in the support of domestic industry, and so to direct that industry that its produce may be of the greatest value, every individual necessar ily labors to render the annual gross of the bon ton as great as he can (Donaldson, 167). In this quotation, Smith is explaining how every individuals personal strive for success, in the form of production, helps to improve society as a whole.If from each one individuals ultimate goal is to increase their riches, and if increased wealth is sought through alter production, then the competition for wealth willing undoubtedly end point in improved production. Improved production can take to be either cheaper manufacturing, resulting in lower costs for the consumer, or a better product, which will also help society. Smith moves on to say that this competition is self-perpetuating and that the profit made off of production is reinvested to further improve manufacturing. Evidence of this can be observed in the Celgene Corp. aising of prices on thalidomide which resulted in, The ability to fund the pharmaceutical industrys research and development programs, which flirt new medi cines to patients (Donaldson, 151). This can be further proven by the fact that Celgenes R&D department uses almost half of the companys revenue (Donaldson, 154). In this example, Celgene is able to provide consumers with newer and much powerful medication as a result of its competitive pricing of thalidomide. Though many critics of Celgene would call the corporations decision to tin prices a genuinely greedy and selfish act, Smith conditions nonhing wrong with much(prenominal) a move.On this issue Smith states that an individuals self-centered motives often improve society By pursuing his own interests he frequently promotes that of the society more effectually than when he really intends to promote it (Donaldson, 167). Given Celgenes perceived self-centered actions, Smith would note that this type of free market demeanor is positive and is guided by an invisible hand which helps such port to be beneficial to society as a whole. The next philosopher to be examined would arg ue that the invisible hand that Smith speaks of is indeed separate from the political realm.Milton Friedman continues with Smiths line of logic as he asserts that the head concern of the businessman moldiness be to make a profit under socially acceptable means and that the defining of social responsibilities must(prenominal) be left in the political sphere. Celgenes chief executive, John Jackson, was the primary force behind the companys decision to annul prices. Jacksons actions are perfectly good according to Friedman who writes, What does it mean to say that the corporate executive has a social responsibility in his capacity as a businessman?If this statement is not thoroughgoing(a) rhetoric, it must mean that he is to act in virtually 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 ethical obligation to them to make a profit. Celgene was losing money until 2002, which obviously necessitated an increase in price (Donaldson, 153). Jacksons move to incrementally increase the price of thalidomide was not unethical because he has an obligation to stockholders to deliver a profit.Furthermore, Friedman asserts that it is not the corporate executives job to act as a moral entrepreneur as he is ill fit to do so. Friedman stresses that calls for executives to act socially responsible are unethical as socially impactful decisions, such as price adjustment, must be left up to existenceally elected officials with knowledge of the social and economic implications of such actions (Donaldson, 36). Friedman makes a vital point as it explains that the social responsibility falls on the domain and its publically elected officials to enforce social justices through legislature.Therefore if the public desired Celgene to lower prices of thalidomide then it must require it to do so through law. Furthermore since no law exists requiring Celgene to sell 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 thus the public should reserve the rectify to solve such social dilemmas through participatory means in the form of law.Emanuel Kants philosophy of the categorical overbearing also works to ethically justify the pricing of thalidomide by expressing the command for a universal standard of ethical practice. Though Kant would most probably desire a socialist utopia or at least cut universal healthcare, neither is realistic in the present day. In a Kantian society individuals would want free healthcare for everyone. No ethical issues would be in question if everyone received 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 ano ther party in the same manner 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 canonic element of ethics lies in John Lockes philosophical business relationship of product ownership and it works to prove Celgenes decently to raise its prices.At the very heart of business is the ownership of a private keeping which one elects to sell for a profit. According to Locke, God made the farming for man to exploit for his personal needs and thus it is logical that some men will not have common ownership of the farming (Donaldson, 158). Lockes philosophy on private property explains that man has the right to own property and that he alone can chose how to use his property. victimisation this exculpation, Celgenes ownership of thalidomide entitles them to price it at any rate it sees reasonable.Moreover this justification is ethica l because it comprises the sole force behind production. If corporations like Celgene cannot retain 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 innate 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 best and brightest to produce the most important products for societys use.If Celgene was made to sell their products at a price convenient for the consumer nevertheless crippling to the manufacturer then production would decline and society would falter. thus to ensure continued production and quality corporations such as Celgene must be allowed to conduct business according to their best interests with regard to price. golf-club 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 standpoint 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 cash advance 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.