Explain what is implied by the assumption that decision-makers are Essa

Explain what is implied by the assumption that decision-makers are rational? How is the assumption of rationality used in the economic analysis of individual behaviour? In many academic disciplines much is spoken about rationality and rational choices. Economists generally refer to 'rational' choices and that individuals in economic theory are rational. By rational we mean people choose options which they perceive to be the best, given the circumstances they are in. In terms of making rational choices some of the conceivable options for example of going to work would be:  · Actually going to work.  · Staying at home  · Going out shopping  · Buying a house  · Fly to the moon etc. But with these choices we face constraints and it is these constraints that define our 'feasible' options so flying to the moon would not be a feasible option. Therefore the options we can choose from is called the 'feasible set' and it is our preferences i.e. our likes and dislikes and their relative intensity, which determines which feasible option we choose. When we make a choice it generates 'utility' which is a measure of the emotional experience associated with the outcome of a choice so basically the satisfaction from the consumption of a good. We talk about 'total utility' meaning the total satisfaction a person gains from all units of a commodity consumed within a time period. We also use the term 'marginal utility' which is additional satisfaction gained from consuming one extra unit within a time period. There is a general model of rational choice where economists assume that agents such as decision makers will firstly identify a feasible set of options and then assess the expected utility of each option ... ...tility and therefore the amount of meals must decrease to keep the utility constant. Due to the fact that the consumer will prefer more to less the curve must slope downwards. The slope of each curve does get steadily flatter as we move to the right due to the assumption of a diminishing marginal rate of substitution. For example in this case at point A the consumer will sacrifice a lot of films for few meals because he/she has so many films. Whereas point B he/she has less films relative to meals so willing to sacrifice a smaller amount of films for additional meals. However this kind of economic analysis is based on rational behaviour of consumers. It does not take into account people with maybe addictions such as smokers or people under the influence of alcohol or drugs. In economics we assume rational thinking and behaviour will always take place.

Generational Differences: The Use Of the Internet Essay -- Technology

Generational Differences: The Use Of the Internet Everyone is doing it: surfing the net. Every generation nowadays is using the Internet for some reason or another. Kids, sometimes for play; students for school work; and adults in the workforce are using the net for business related topics or to plan their next vacation; seniors are using it to keep in touch with their grandchildren. If you aren’t using the net, then you are obviously not in tune with the Real World. There have been my in depth studies dealing with generational use of the Internet. Who is wired and who is not. The gender gap. Who, how and why a person is using the Internet. Before I get into my own observations, I would like to introduce some observations that certified people in the field have made: Kids: Children start to use the computer and surf the net just as fast as they can walk or talk. At first, they just want to play games, but then they find the amazing tool of surfing the net to find better games, more interesting games and for study. Children are being encouraged to use the Internet by their teachers. Small research projects are being assigned by their teachers to see if their students know how to use the information on the Internet for school related purposes. Chat rooms have also become popular among children. Disney.com has a chat room for youngsters to partake in and talk about their favorite characters, movies, etc. Of course, children do not have the choice of their income - but this is a major concern among the â€Å"digital divide.† One of the most common â€Å"digital divide† findings is of course the use of computers in schools. A nationwide survey was taken and the results follow: teachers suggest that, as of 1998, m... ...y study has been very bizarre. I think everything went as planned, besides the one circumstance with the senior citizen. WORKS CITED Becker, Henry Jay. â€Å"Who’s Wired and Who’s Not: Children’s Access to and Use of Computer Technology. Future of Children. 2000, 10, 2, fall, winter: 44-75 Ervin, Linda A., Kelly S. Gardner, Philip D. Schmitt. â€Å"Gender and the Internet: Women Communicating and Men Searching.† Sex Roles 44. No. 5/6. (March 2001) pp. 363-379. â€Å"The Internet Study: More Detail.† February 2003. 25 Feb 2003. http://www.standford.edu/group/siqss/Press_Release/press_detail.htm â€Å"Raised On The Net: The Effects of Computerization on the Next Generation.† May 1999 23 February 2003. http://www.units.muohio/psybersite/cyberspace/n-gen/criticism.shtml Saunders, Gertrude. â€Å"Wired Woman.† Woman’s Day. March 4, 2003. p. 65

Obsessive-Compulsive Disorder Essay -- OCD Essays

  Ã‚  Ã‚  Ã‚  Ã‚  Obsessive-Compulsive Disorder (OCD) is a mental illness that traps people in endless cycles of repetitive thoughts and behaviors. Pierre Janet described obsessive-compulsive disorder by using the term psychasthenia. Sigmund Freud described obsessions and compulsions as psychological defenses used to deal with sexual and aggressive conflicts in the unconscious mind (Bruce Bower: 1987). OCD is also known as â€Å"The Doubting Disease,† because it’s as though the mind doesn’t register when the person does a certain action, which triggers the source of the obsession (USA Today:1995). Unlike most people with anxiety disorders, those diagnosed with OCD are more obsessed with what will happen to others instead of themselves (Edna Foa: 1995). Obsessive-Compulsive Disorder occurs in a spectrum from mild to severe. At some point the person will see the actions or thoughts as unreasonable and senseless. All people have habits and routines, but what makes obsessive-compulsive people different is the fact that their obsessions and compulsions interfere with their daily lives (American Family Physician: 2000). They spend large amounts of time doing odd rituals. The rituals can take hours a day and make the sufferers miserable and doesn’t allow them for much of a business or social life (Harvard Mental Health Letter). At one OCD clinic, many had lost years of work to their symptoms. Seventy-five percent said the disorder interfered with their family lives and thirteen percent had attempted suicide (Harvard Mental Health Letter: 1998). Phebe Tucker, a psychiatrist at the University of Oklahoma Health Sciences Center, explained, the most common obsession is washing hands for fear of contamination. Other acts are counting over and over, checking locks, hoarding items such as newspapers or cartons, repeatedly dressing and undressing, and walking in and out of doorways. The thought and behavior patterns are senseless and distressing. They can make it very difficult for a person to function properly at work, school, or even at home. Obsessions take the form of doubts, fears, images, or impulses. (Harvard Mental Health Center: 1998) Obsessions are unwanted ideas, images, and impulses that run through a person’s mind over and over again. They are intrusive, unpleasant and produce high anxiety. (www.lycos.com: April 2000) Sometimes the obsessions come once and a while and other... ...ehavioral therapy. Eventually they will overcome their compulsions and be able to control their obsessions.  Ã‚  Ã‚  Ã‚  Ã‚   Works Cited Kendall, Phillip C. and Constance Hamman. (1998). Abnormal Psychology: Obsessive Compulsive Disorder: Understanding Human Problems. Boston New York OCD: What it is and how to treat it. (March 1, 2000). American Family Physician, V61 pg. 1532 General Review: Obsessive Compulsive Part I. (Oct. 1998) Harvard Mental Health Letter, v15 I 4 General Review: Obsessive Compulsive Part II. (Nov. 1998) Harvard Mental Health Letter, v15 i5 OCD Meds not likely to replace therapy: the challenge is to tailor the right combination of treatments for patient. (Jan. 1997). Behavioral Health Treatment, v2 n1 pg1 Begely, Sharon and Nina A. Biddle. For the obsessed, the mind can fix the brain. (Feb. 26, 1996) Newsweek, v127 n9 pg. 60 Help for obsessive-compulsive disorder. (aug. 1995). USA Today, v124 pg. 12 Foa, Edna B. How do treatments for obsessive compulsive disorder compare?. (July 1995). Harvard Mental Health Letter v12 n1 pg.8 Obsessive Compulsive Disorder: review of drug treatment. (Sept. 15, 1994). American Family Physician, v50 pg. 831

How the Leather Industry Handles a Specific Operations Management Issue or Set of Issues Essay

Operations management is the field which is concerned with organizing and executing physical and technical activities of a firm. These actions are conducted by a combination of raw materials and processing or assembling the various components, using the services of workers, machines, tools and power. It is a typical integration of many different functions. Operations management plans normally include instructions in principle of general management, manufacturing and production system. An operation may be defined as â€Å"the process of changing input into outputs by adding value to some entity† (Edurkar, 2009). The two key functions are to provide a product or service and to sell that product or service. It involves the planning and scheming of all functions necessary for the procurement of the firm’s product or services. There are some specific aspects of operations management product or services to emphasize; company volume and location of business feasible for customers and suppliers, marketing strategies, techniques and machinery to make goods, workforce management and training and quality assurance. While establishing a leather industry in Kanpur India or even a small unit, an entrepreneur is required to pay attention to various grounds like size, location and layout as they shape the efficiency of production. Such factors should preferably be considered by the entrepreneur at the project planning stage, and they must be cautious about them at the project implementation stage. A leather industry is commonly comprised of four sectors; the foremost and primary sector being the tanning and finishing sector (Singh, 2002). This phase in the production process possesses a lot of importance because the leather industry involves both small and heavy industries, so its size varies and depends upon the availability and accessibility of a large raw material base. Country’s livestock like buffaloes and goats provide basic raw materials for this industry. Some factors determine the size of the industry like land, building, etc. Size of land should be enough to take care of present and future requirements like storage of raw material and finished goods. Kanpur in Utter Pradesh is a city which enjoys abundant availability of raw material and it is very easy to establish a leather production unit there because it also has basic infrastructure for this business (Bhargava, n. d. ). As proper location of an enterprise is crucial for its success, so Kanpur is the place where a novel entrepreneur can establish his leather business easily, because availability of raw material and cheap skilled labor is not a big deal as it has a professionally developed leather market. The first issue of operations management is the designing of a system. This begins with product development. It should start with the assessment of customer needs and gradually grow into product design. The competence and apparatus that will produce a product, as well as the information system needed to observe and control performance, are part of this design process. As far as the leather industry or unit is concerned, one factor is quite interesting and encouraging that this business in developing countries like India is not as difficult or complicated in terms of competence and equipment needed. For example, a newcomer can initiate a small cottage leather industry with reasonable investment and can get a cheap skilled labor force. Kanpur is the largest centre of buffalo based leather in India. Its tannery industry (tanning is the process of preserving skins of animals to produce leather) began during the British rule and the industry has continued to grow since then. Most of the tanneries are small, so it is quite feasible for an entrepreneur to initiate a leather-oriented business in this region. Leather production system design in the specific region is dependent upon the existing resource base. During recent years, most of the leather industries have shifted from industrialized to developing countries. Reasons can be frequent availability of raw material, cheap labor cost and flexible environmental regulations. As environmental regulations are stricter in the industrialized developed world, establishing leather business in a country like India can be helpful for an enterprise so that chances of changes in its layout would be minimal.

Death Penalty Outline

Understanding the Death Penalty General Purpose: My general purpose is to give the audience a better understanding of the death penalty. Specific Purpose: My purpose is to inform my audience about the different death penalty methods. Introduction: I. We all know Thomas Edison as being the creator of the light bulb, but what most don’t know is he executed animals using his knowledge of electricity. That’s where it all began. II. The death penalty is the execution of an offender sentenced to death after conviction by a court of law of a criminal offense.III. It is also known as Capital Punishment. The two words merely mean the same thing. Some look at â€Å"Death Penalty† as being the penalty received whereas others look at â€Å"Capital Punishment† as being the actual execution. IV. What makes capital cases different from other cases is more pre-trial time, more experts, more attorneys, and jurors have to be quizzed on their views of the death penalty. All crimes are not capital cases. Transition: To begin let’s start with the different methods of execution. Body: I. There are five methods of execution. . Lethal injection b. Electric chair c. Gas chamber d. Hanging e. Fire squad Transition: First let’s explore lethal injection. I. Lethal Injection is the primary source of execution used in the United States; The U. S. became the first country to use lethal injection. There are three different drugs used in lethal injection. A. Sodium Thiopental- A sedative drug that puts you in a coma-like, unconsciousness sleep. B. Pancuronium Bromide- Prohibits all muscular-skeletal movements and paralyzes the diaphragm to stop respiration. C.Potassium Chloride- Interferes with the electrical signals of the heart, causing cardiac arrest. According to U. S. Supreme Court Chief Justice John G. Roberts, along with Justices Anthony M. Kennedy and Samuel A. Alito, There are a total of 36 states now use lethal injection as their most prevale nt source of execution. 27 of the 36 require lethal injection to be the method of execution. There is a lethal injection machine, but rarely used because of the fear that it will not work on the first try. II. Transition: Another method is the Electric Chair.This is the method where a high voltage of electricity is sent through the body. A. Before the execution, the prisoner’s head and legs will be shaved where the electrodes are placed. The prisoner’s head, torso, arm, legs, hips, wrists and ankles are tightly fastened to the chair. (Robert O. Hippe, Judge of the Nebraska Court of Appeals) B. A plate is placed around the prisoner’s head and left calf creating a path through the body. C. Larger sponges which have been soaked in solution are placed under each electrode, next to the prisoner’s skin.Burning is expected in electrocutions, so a fire extinguisher is kept close by. III. Transition: A third method of execution is the gas chamber. A. During an exe cution, the prisoner is placed in an air-tight room where potassium cyanide or sodium cyanide is put into a pan of hydrochloric acid causing the prisoner to not be able to process hemoglobin, as stated in the article â€Å"First Execution by Lethal Gas† B. The prisoner then falls and chokes to death. C. Only 4 states in the U. S. allow gas chamber as a form of execution. D. Gas chamber is the most expensive method of execution.IV. Transition: The fourth method of execution is hanging. A. The inmate must be weighed the day before the execution. A sandbag weighing the same as the prisoner is then used a â€Å"test dummy† to determine the length of drop necessary for a quick death. B. If the rope is too long, the inmate could be decapitated. If the rope is too short, it will result in a slow death causing the tongue and eyes to protrude. C. Hanging was the most common source of execution in the U. S. up until the 1890’s. V. Transition: The final method of execution is the firing squad. A.Five shooters will aim at the prisoner, but only four will have live aim. One shooter has a dud that creates the same sound. B. They all shoot at an area the size the palm of your hand. (Kevin P. Robillard, Editorial Assistant at POLITICO) Conclusion: I. Transition: I have informed you about the death penalty and the five methods of execution. f. Lethal injection g. Electric chair h. Gas chamber i. Hanging j. Fire squad II. I hope that now you have a better understanding of the death penalty. WORKS CITED . â€Å"Capital Punishment. †Ã‚  ProCon. org. Encyclopedia Britannica , 25/04/2008.Web. 10 Sep 2012. . Richard, Dieter. ProCon. org. N. p. , 07/02/2007. Web. 10 Sep 2012. . . â€Å"Forms of execution in the United States,1977-2009. â€Å"ProCon. org. N. p. , 16/04/2008. Web. 10 Sep 2012. . . â€Å"Did you know?. †Ã‚  ProCon. org. N. p. , 08/05/2012. Web. 10 Sep 2012. .

A Critique of Nelson Goodman’s Concept of the New Riddle of Induction Essay

The development of the method of induction has been privy to the presentation and solution of riddles. At the initial level of its development, it has been privy to the old riddle of induction discovered by Hume. After the solution of the former riddle, however, a new riddle of induction was discovered by Nelson Goodman. In lieu of this, this paper opts to consider the development of the method of induction as a methodology defined by Hume and Goodman’s conception of the Inductive method. Induction refers to â€Å"a method of reasoning by which a general law or principle is inferred from observed particular instances† (Flew 171). The method of inductive inference may be considered as the primary means through which justifications are formulated to show the relationship of evidence towards particular assumptions (Godfrey 43). The process of induction, in this sense, may be seen to arise whenever we note that evidence lends support to a hypothesis while in the process failing to establish its deductive certainty. It was such a formulation of the method of induction that enabled the conception of the first riddle. What follows is a presentation of the main arguments of the aforementioned riddle as formulated by David Hume. Hume argued that since no necessary connections exists between empirical phenomena, it is always possible that a future observation will prove our inferences wrong no matter how appealing it may have been or how richly supported by past observations. This problem, in the more recent formulations of the problem has been referred to as the uniformity principle [in this sense the lack of such uniformity]. According to the argument, nature has no uniformity. If such is the case, it thereby follows that there is no voucher that which ensure the consistency of man’s most refined predictions. It might be argued that such an assumption has never been denied in the formulation of predictions however there has been agreement regarding the results of such an agreement [or lack thereof] within the province of induction. To some, it means that induction is never valid or justified, while to others, it means that induction simply calls for different standards of validity (Godfrey 63). The latter view strips the aforementioned riddle [Humean riddle] of its problematic context. This is evident if one considers that since the rules of deductive validity are inapplicable to induction, it cannot be a problem that inductive inference is unavoidably attended by the possibility that a future observation may prove it wrong (Goodman 4). The old riddle is then dismissed because it cannot possibly be the genuine problem of induction. Fact, Fiction, and Forecast present Goodman’s construal of what he refers to as the new riddle of induction. After refuting the old riddle of induction [the refutation of which is evident in the former paragraph], Goodman proceeds to outline what he takes to be the genuine problem of induction and its tentative solution. The problem of induction, he writes, is a problem of demonstrating the difference between valid and invalid predictions (Goodman 4). According to Goodman, a prediction is valid if it conforms to a valid rule of induction, and a rule is valid if it yields valid predictions. He acknowledges that such an assumption is characterized by circularity however; he notes that it is important to perceive such a conception of the problem in terms of the conceptions of justifications for arguments. Goodman notes that inductive predictions based on past regularities work better than those based on any other alternative. If such is the case, the rules for formulating predictions must be constructed in such a way that they will coincide with common practices of inductive reasoning. This, on the other hand, is further developed by the quality of predictions, which it produces. This is clearly explicated by Rubenstein as he notes, â€Å"the centerpiece of a valid inductive logic [according to Goodman] is its reliance on past regularities, and the prescriptive mandate of inductive validity is inseparable from a descriptive account of how inductive judgments are commonly made† (39). This has been the result of Goodman’s dissolution of the old riddle of induction. What follows this is Goodman’s explication that the most promising solution of the aforementioned riddle is untenable. It is through the introduction of such untenability that Goodman presents what he perceives to be the new riddle of induction. Goodman presents two hypotheses that are to be addressed through the use of the inductive method. One says that all emeralds are green and the other says that all emeralds are grue, where grue is said to apply to all things examined before t just in case they are green but to other things just in case they are blue (Goodman 10). Both hypotheses seem to be equally well supported by the evidence: all emeralds examined prior to t have been found to be green and grue. However, the two hypotheses are mutually exclusive. If emeralds are grue, they will be blue at t and thereafter, but if the alternative hypothesis is correct, they will be green. Thus, we are left with the paradox that Goodman christened the ‘new riddle of induction’. We cannot, after all, justify induction by appealing to past regularities. However, the reason, according to Goodman, is not the lack of the elusive uniformity principle, but the previously unrecognized ubiquity of regularities.   According to Goodman, regularities exist where one finds them. In relation to this Goodman states that one, however, finds them everywhere (Godfrey 53). If such is the case, it therefore follows that it is useless to base inductive validity on past regularities since it is not possible to predict and hence distinguish which regularities are valid and invalid. At this point, I would like to present a summary of the aforementioned discussion. In the aforementioned discussion, Goodman believes that the old riddle [the Humean riddle/the uniformity principle] has been dissolved and that induction is justified by past regularities. The only remaining difficulty he sees, however, lies in finding a rule for distinguishing between regularities that do and do not yield valid inductive predictions. As was noted in the above discussion, the possibility of such is not possible. This is evident if one considers that regularity necessitates the occurrence of acts of inductive inference. Therefore, the genuine problem of induction cannot be the distinction between the distinction of regularities that do or do not yield valid inductive predictions since the specification of such necessitates the formulation of inductive inferences. As I reckon, Goodman aforementioned conception fails to account for the process of induction. It is important to note that Goodman contends that induction begins with regularity. Rubenstein notes, â€Å"Induction does not begin with regularity – it ends with it† (44). The failure to consider this leads Goodman to misconstrue the problem of induction. It is important to note that experience of reality does not necessarily start with regularities but rather with individual observations. The role of induction, in this sense lies in providing us with justified methods that allows us to posit the observations that we will account for as regularities. Goodman, however, failed to account for this. In addition to this, it is important to note that such a failure can also be traced to Goodman’s assumptions regarding the process in which individuals formulate inferences. Goodman’s error is compounded when he makes a distinction between identifying regularity and projecting it. Once we have decided that our observations represent regularity, it is automatically projected in both temporal directions. This is, in fact, what we mean by applying the term regularity to our data. Furthermore, Stich and Nisbett contend that the â€Å"equilibrium with inductive practices† that Goodman posited, as a necessary aspect in formulating a valid inductive methodology is â€Å"neither necessary nor sufficient for a rule of inductive inference to be justified† (194). They argue that such an assumption fails to consider that â€Å"human subjects regularly and systematically make invalid inferences† and that there an instance wherein human reasoning enables an individual to â€Å"accept invalid rules and reject valid one’s that ought to govern the inference at hand† (Stitch and Nisbett 194).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In summary, the aforementioned paper presented Goodman’s arguments in relation to his conception of the new riddle in induction. Such a riddle, however, under scrutiny may be seen as based upon a mistaken assumption of the justification process of beliefs that necessitates the introduction of information garnered through the method of induction. This is evident, for example, if one considers the manner in which observations enable the formulation of regularities and not the other way around. An analysis of Goodman’s supposed riddle of induction thereby leaves the reader wondering if such a riddle may be considered as a valid concern for the adherents of the inductive methodology. Works Cited Flew, Anthony. A Dictionary of Philosophy.   London: Pan Books, 1983. Godfrey-Smith, Peter.   Theory and Reality: An Introduction to the Philosophy of Science.   Chicago: University of Chicago Press, 2003. Goodman, Nelson.   Fact, Fiction, and Forecast.   Massachussets: Harvard University Press, 1983. Rubenstein, Arthur.   â€Å"Induction, Grue Emeralds, and Lady Macbeth’s Fallacy.†Ã‚   The Philosophical Quarterly 48.190 (Jan. 1998): 37-49. Stitch, Stephen and Richard Nisbett.   â€Å"Justification and the Psychology of Human Reasoning.† Philosophy of Science 47.2 (Jun. 1980): 188-202.   

Ethics Essay Primark Essay

This essay shall look at the cost to human life and lifestyle through the demand of low cost clothing in the UK. This will be undertaken specifically looking at Primark and the Rana Plaza factory collapse in Bangladesh, observed as modern day slavery, having a â€Å"race to the bottom† characteristics, occurring as a consequence of globalisation. This essay will analyse differing ethical approaches including Virtue, Kantian and Utilitarian ethics. An overview of the findings will be given, using the Rana Plaza Factory in Bangladesh as a case study, along with an analysis of Primark’s supply chain. Bangaldesh has for many years has been used for outsourcing, attractive to western clothing companies supply chains due to low costs. Bangladeshi’s economy is almost entirely reliant upon these export sales (80%) in the cloth trade (Jacob, 2012). Given this, it is clear that the Rana Plaza disaster (2013) killing more than 1000 workers did not have only a local effect, but a global one, with it raising many questions. It has been attested that those who died, did so as a consequence of poor operations management. The disaster further served to highlight that conditions of many factories were poor and often illegal. Large fashion brands including Primark, were seemingly happy to ignore such factors, to continue to gain profit, observed by the lack of procedures in place to ensure that standards of health and safety were met. This alongside the knowledge that child labour was often used, has led to many questions regarding irresponsibility of western companies. Despite the cost of life in one of the major disasters (the Rana Plaza collapse) of the fashion industry, Primark has made huge profits (44 % higher than in 2012) highlighting that cost rather than ethics is at the forefront of the stakeholders. The race to the bottom characteristics1 of Bangladesh have facilitated giant western companies, cheaper labour and goods. Furthermore the lack of enforcement of the limited laws and regulations, along with the Bangladesh’s class system, to some extent has allowed large companies to exploit these loopholes, given that Bangladesh’s economy is dependent on the textile industry, worth one billion dollars in 1985 and now estimated to be worth over 20 billion dollars (Young, 2013). What has been debated is whether or companies such as Primark are ensuring, and not just assuming, that all in their supply change are acting ethically. The focus of this  study will be on Primark. Fast Fashion â€Å"That bastion of fast fashion, scorned and idolised by the British public – indeed, all of Europe† (Joy, et al., 2012). Fast fashion may be described as inexpensive clothing which mimics catwalk fashion trends, lasting only the trend, thus part of the throwaway culture leading to unsustainability. This is supported by Joy et al. (2012) who express that fashion trends run their course, with today’s styles outdoing yesterdays, with yesterday’s having already been relegated as trash (Joy, et al., 2012), this is Primark’s main business model offering competitive advantage and success. For example, fast fashion results in consumers having at least 30% of unworn clothing (worth  £30 million) with approximately  £140 million of used clothing going to landfill annually (WRAP, 2014). Changing trends have shown that in the 1900s, 15 % was spent on clothing in comparison to 2.8 % (2010), although a greater number of items were purchased with the onset of time, indicating that the majority of purchases were low-cost items. Packard (REF) refers to â€Å"consumerism† in negative way, highlighting the role of advertising in the creation of â€Å"consumption for consumption’s sake â€Å", which leads to mindless consumerism, whereby individuals are â€Å"more wasteful, imprudent, and carefree† in their habits. As a consequence natural resources are utilised unnecessarily at an alarming rate. Therefore indicating that all stakeholders of Primark, including consumers are participants of â€Å"mindless consumerism†. Stakeholder theory Initially, Milton Friedman’s stakeholder theory will be utilised, Friedman is known for his famous quote of â€Å"business of business is business†. He claims that there is one, and only one social responsibility of business, to use it resources and engage in activities designed to increase its profits, so long as it stays within the rules of the game, therefore â€Å"engages in open and free competition without deception or fraud.† REF he furthers this by expressing what does it mean to say that â€Å"business† has responsibilities?, only people have responsibilities. As articulated by Friedman (1970), a corporation is an artificial person and in this sense may have artificial  responsibilities, but â€Å"business† as a whole cannot be said to have responsibilities, even in this vague sense’ .Milton. Ref â€Å"The Social Responsibility of Business Is to Increase Its Profits.† New York Times Magazine, 13 September 1970. Identifying that Milton Friedman thinks that businesses should only look at the shareholders in the organisation, their priorities and needs. For instance, as with Primark low prices, to maximise profits for shareholders. Freeman Alternatively, Freeman contradicts Friedman’s theory through the stakeholder theory (Freeman, 1984). Freeman states that business will only maximize profit over the long-term, if it takes into account its social responsibilities Businesses that are seen to ignore the interests of the wider community and to fail to protect society’s welfare will pay in terms of damage to image and reputation. Although it is evident that Freeman’s theory did not hold, as despite the Rana Plaza disaster, and associated unethical practices, Primark has continued to be successful. As Freedman states Primark should not only look at their shareholders interest but should also proactively engage with stakeholders. Responsibilities of supply chains and due diligence Due diligence is the procedure by which companies monitor and review actions of a company, prior to signing a contract. Intrinsically this procedure is used to identify whether the â€Å"business partner† is working to a standard which complies with that required by the investor (Brown et al). Therefore identifying if a company is adhering to its own code of ethics, as they would have prior knowledge of the proposed outsourcer and their standards, allowing them to make an informed choice. This is undertaken by â€Å"best practice† of due diligence, in doing this Primark could obtain information that could be critically evaluated to ensure that their business partners in the supply chain are acting responsibly. Highlighting a lack of due diligence by Primark, in place at the time of the Rana Plaza disaster. Supply chain With the onset of globalisation, many difficulties as well as advantages have  arisen. One of the main difficulties associated with globalisation is the lack of visibility and transparency of the supply chain, which may lead to risk, as highlighted by the Chartered Institute of Purchasing and Supply (CIPS) who disclosed that within at least 11 % of UK business, it was highly probable that â€Å"modern slavery† exists within the supply chain. As emphasised by the Rana Plaza collapse, the problems of lack of visibility are inherent, due to extensive supply chains, with many of the associated problems as a consequence undisclosed to buyers. Researched by the CIPS states, ~72% of British supply chain professionals have no visibility of their supply chains beyond the second level with only 11% having complete visibility of the chain (Noble, 2014). It is not understood whether Primark was fully aware of the problems at the Rana Plaza factory, although they could still be considered at fault, due to ineffective checks and monitoring of subcontractors, highlighted by Panorama (date). Alternatively it could be assumed that Primark was indeed aware and was willing to take the risk, for profitability, at what cost? Irresponsible behaviour analysis Fast fashion underpins the entire fashion merchandising industry. Children and adults are used to produce such fashion items, primarily in underdeveloped countries including Bangladesh. These individuals work in very poor, and often dangerous conditions, earning very small amounts of money. In working, the young children are unable to access education. The workers have limited rights and are general thankful to be able to earn any amount of money whatsoever. Western society often views such circumstances as being exploitative and unethical. There are several theories of ethics which have differing viewpoints. These include a Utilitarian, Kantian and Virtue ethics. Utilitarian ethics relate to benefiting the majority of society, focussing not upon individuals but a collective whole. Many businesses utilise this approach as a basis to provide guidelines for ethical decision making for the greater good. The outcome is that the majority of stakeholders benefit. Utilitarianism looks to fi t well into a company’s business strategy, connecting ethical responsibility with business and society, in their focus of striving and justifying their approach as being for the greater good for the majority Gustafson, 2013).. Therefore  from a consequential (Utalitarian approach) perspective, whereby an act is deemed to be right or wrong, is judged using two principles. Initially determining the outcome, with the proviso that the greatest good for the greatest number of individuals is attained, limiting harm and maximising overall good (Hartman & DesJardins, 2011). Therefore from a consequentialist viewpoint Primark did not appropriately undertake a cost versus benefit analysis, by not accounting for their lenient attitude in respect of their suppliers. Knowledge of poor working and safety conditions were widely known prior to the collapse of the Rana Plaza (BBC News, 2013), indicating that Primark had no regard with respect to risk factors, that could be caused by the absence of due diligence. Therefore, Primark did not act ethically, from a consequentialist viewpoint, exploiting workers for financial gain and simultaneously failing to achieve â€Å"the greatest good† for the â€Å"greatest num bers†. However, if the example of workers at the Rana Plaza factory is considered, working on behalf of Primark, it may be seen that these stakeholders suffered at the hands of a Utilitarian approach. This is due to the main driver of Primark’s business being profitability, along with a demand for cheap clothing by UK consumers, therefore the greater good does not incorporate the workers in the factories, paid low wages to keep production costs down. Despite this, it may be argued that without work, those effectively excluded from Utilitarian ethics would be left in an even more difficult position, having no finances whatsoever. Since Capitalist societies in general dominate the fast fashion market, the actions of these corporations must be evaluated and the significance of their impact considered. Given that such corporations are driven primarily by profit, many may suggest that the lack of provision of education and improved living and working conditions, is indicative of the fact that company’s do not consider if their actions are moral or not. Instead they do what they want, without thought of the negative impacts, to drive their goal, in Primark’s case the provision of cheap fashionable clothing. This is a clear demonstration of a company taking a Utilitarian approach, marginalising the minority whilst providing for the majority. However, from a deontological viewpoint, whereby dutiful obligation plays the greatest role, in which regardless of consequence all individuals are expected to do â€Å"the right thing† , with these actions deemed to be ethical, only if they have the  possibility to become general law (Fisher et al., 2013). In order to be a part of society, there are accepted social norms and laws that individuals must follow (Stanwick & Stanwick, 2014). Primark (supposedly) partakes in the following of societal norms, clearly stated within their ethical guidelines (2011), where they explicitly state amongst other norms, that Primark will not tolerate either unsafe or unhygienic working environments? Despite the inclusion of these norms within their guidelines, their failure to adhere to them is clearly visible. Despite Primark’s duty to do the â€Å"right thing†, they did not, from a deontological ethics viewpoint. Had Primark acted ethically in a deontological way, consideration of workers well-being, happiness and other rights would have been considered. Likewise Kantian ethics (1785), have the expectation that individuals are able to distinguish right from wrong, based on an individual’s beliefs and moral, not via legal laws. It is clear that no individual would consider working 19 hour shifts for very low wages an acceptable scenario, and allowing individuals to do so in the factories of Bangladesh, brings into question Primark’s ethical judgement, or lack of, based on Kantian ethics. However Kantian ethics is seen as opposing Utilitarianism, its core values emphasise treating employees as individuals, having equal value. Furthering this, Kantian ethics incorporates within its ethos that employees should not be treated ‘as a means to an end’ (Driver, 2006) and that each should have individual rights, whilst not being viewed only as a source of labour (Smith and Dubbink, 2011). The Kantian approach involves the decision-maker being detached from personal motives when making a judgement (Smith and Dubbink, 2011). In this approach, no external factors are considered. However, due to the personal emphasis on profit in the current climate, companies are unable to detach themselves from the personal motive of profit and cannot adhere to Kantian ethics (Driver, 2006). Virtue ethics focus on personal characteristics and whether or not they acted in a virtuous manner when making a decision (Driver, 2006). â€Å"Justice and generosity† are often agreed to be such traits that are employed to pursue good practice (Audi, 2012). Paralleling this to a company, a company would be deemed virtuous, and therefore acting ethically, if their intention was  to achieve a caring environment and general positivity of employees, rather than maximising profits alone. Once again, Primark based on virtue ethics is not observed, acted with no regard to safety or well-being. Recent initiatives to improve due diligence in the supply chain have been undertaken as a consequence of the Rana Plaza disaster, however consequential actions do not follow the rules of virtue ethics, actions must be commonly practiced. Evaluation of ethical theories and Primark Adam Smith states that â€Å"It is not from the benevolence of the butcher, the brewer or the baker, that we expect our dinner, but from their regard to their own interest†. (1776, Wealth of Nations PAGE NUMBER). He attests that in engaging in self-interest that individuals also bring about greater good for the society as a whole. Smith furthers this in expressing that should an invisible hand be guiding the economy, then competitive producers would produce goods required at the lowest cost, leading to a self-regulatory economy, a free market. There are limited regulations with regards to Health and Safety in particular, in Bangladesh in comparison to the UK. Had Health and Safety been at the level of UK standards, with workers not having been used as a means to an end, as described by Kant, it is unlikely that the Rana Plaza tragedy would have occurred. However, in respect of a Utilitarian approach and cost-base analysis, without cheap labour, working in poor conditions, the outcome would not have been as required and consumers would not obtain cheap fast fashion goods, nor would shareholders resultantly be rewarded as expected. In this respect as the greater good is generally attained, individuals in Bangaldesh have employment, shareholders have profits and consumers have the latest cheap fast fashion. Therefore it may be criticised that no moral/ethical behaviour is taken into consideration within Smith’s theory (Mill, n.d.). Based on Kant’s theory it may be argued that the above scenario is in fact unethical, as the workers’ rights are not taken into consideration and that they are viewed only as a means to an end (Bowie, 2002), prioritising productivity and therefore profits, whilst viewing the employee only as a form of labour. When comparing a Kantian viewpoint to that of an Utalitarian perspective, then the Kantian standpoint does not consider a situation to be unethical even if it is for the greater  good, as in the case of an Utalitarian approach. Furthermore any gains made by a company that are achieved through any activity which does not take an employee’s rights into consideration is regarded as unethical (Bowie, 2002). However, for some consumers ethical responsibility of a company may influence whether they purchase a product, which may af fect profitability and could also affect brand and brand image. Damage to a brand is often irreversible. However, in the case of Primark after the factory collapse, due to unsafe and unethical practices; for example workers were locked in, unable to escape, luckily this potentially disastrous impact on brand image, had in reality little impact. Initially there was uproar and disgust expressed by western society, although this negative and damaging event slowly faded from the press and media, and rapidly from the minds of the consumer. Therefore highlighting that western consumers, although horrified and shocked about the conditions, seem not to care and have no moral stance and may be described as egoethical. Egoethical characteristics include self-interest without consideration of the consequences of the demand for cheap goods. Given the recent increase in interest regarding business ethics, it may be deemed that having an â€Å"ethical† business can lead to competitive advantage, attracting business from â€Å"ethical† consumers. Although in reality this may be a tool, used solely for the purpose of increasing profits rather than benefiting employees (Schwartz, 2011). The power of business in today’s society along with the time individuals spend in employment, necessitates the need for an ethical environment ( Mishra & Crampton, 1998) . Primark’s response and actions to improve ethics Balch (2013) expresses that companies are ethically responsible to deal with problems when and wherever they are highlighted. Ruggies (2010) framework in respect of human rights and business advocates that if a ‘problem’ arises within the supply chain, the inclusion of this part of the supply chain must be considered in respect of a company’s Corporate Social Responsibility (CSR) to define whether inclusion is crucial. Should it be considered crucial, the company must seek to safeguard that ethical practices are improved, if not critical, an alternative should be sought. Primark based on a consequentialist perspective as mentioned earlier, plays a large role in  Bangladesh’s economy, by the employment of many workers as part of its supply chain, with this it may be argued that Primark is supporting a reduction in poverty rates. Additionally as described by Primark’s Ethical Trading (2013), 85% of its Bangladeshi workforce are female, offering oppor tunity and developing their independence. Consequently it may be argued that if Primark removed its outsourcing from Bangladesh elsewhere, this would be extremely detrimental, and would add to the high numbers already living below the national poverty line , 49.8 % in 2002 (ILO, 2009), highlighting that despite many ethical reservations Primark impacts the country and the people of Bangladesh in a positive way. From a deontological perspective, almost immediately after then Rana Plaza disaster Primark was seen to be improving, observed by Primark’s assessment of structural integrity of the factories and also via their joining the Accord on Fire and Building Safety (Bangladesh Accord, 2013). Furthermore Primark later terminated contracts with factories that were investigated and were considered at risk of collapse. Primark attests that there is due diligence throughout its supply chain which is undertaken irrespective of consequence. From a virtuous perspective Primark immediately acknowledged its responsibility and responded instantaneously to the catastrophe of the Rana Plaza collapse (providing financial and food aid to victims and their relatives), in comparison to other major fashion chains also using the factory (Primark, 2013). Primark’s actions were virtuous, in that not only did they support â€Å"their† workers (and relatives), they supported those employed by other fashion chains within the Rana Plaza factory. Additionally it may be seen tthat Primark is working towards provision of improved well-being and education via projects such as their Health Enables Returns (HERproject) for female employees (Primark, 2011), enabling employees to have a better standard of living. Furthermore Primark is working towards suppliers increasing wages to give employees a â€Å"living wage† and to improve working conditions (Siegle, 2013). Conclusion Having evaluated and analysed Primark’s responsibilities and ethical considerations regarding their contribution to the Rana Plaza disaster, primarily based on a lack of due diligence in the supply chain, using a wide  variety of ethical theories, that presented a variety of perspectives. These have highlighted that Primark’s ethical standards were deficient and questionable, however subsequently Primark has identified its poor practice and is working towards sustainability, via a variety of ethical considerations, improving overall standards for its employees in the supply chain, demonstrating positive CSR. Although to what extent Primark may achieve and sustain these goals in the future, whilst still focussing on profitability may be uncertain.