BBA 1st Year Business Ethics Gandhian Philosophy of Wealth Management Long Question Answer

Knowledge without Character : As dangerous as a little knowledge is, even more dangerous is much knowledge without a strong, principled character. Our obsession with materialism tends to make us more concerned about acquiring knowledge so that we can get a better job and make more money. A lucrative career is preferred to an illustrious character. Our educational centers emphasize career-building and not character-building. Gandhi believes if one is not able to understand one’s self, how can one understand the philosophy of life. He narrates the story of a young man who was an outstanding student throughout his scholastic career. He scored “A’s” in every subject and strove harder and harder to maintain his grades. He became a bookworm. However, when he passed with distinction and got a lucrative job, neither he could deal with people nor could he build relationships. He had no time to learn these important aspects of life. Consequently, he could neither live with his wife and children nor work with his colleagues: His life ended up being a misery. All those years of study and excellent grades did not bring him happiness. Therefore, it is not true that a person who is successful in amassing wealth and degrees is necessarily happy. An education that ignores character- building is an incomplete education.

Commerce (Business) without Morality (Ethics) In his book Moral Sentiment, which preceded his magnum opus Wealth of Nations, Adam Smith explained how foundational to the success of our systems the moral foundation is:

(a) how we treat each other,

(b) the spirit of benevolence,

(c) the spirit of service, and

(d) the spirit of contribution

As in wealth without work we indulge in commerce without morality to make more money by any means possible. Price going up due to hoarding, palming off inferior products, cheating and making false claims are a few of the obvious ways in which we indulge in commerce without morality. There are also thousands of other ways in which we do immoral or unethical business. When profit-making becomes the most important aspect of business, morals and ethics usually go overboard. We cut benefits and even salaries of employees. If possible we employ “slave” labour, like the sweet shops and migrant farm workers in New York and California where workers are thoroughly exploited. Profit supersedes the needs of people. When business is unable to deal with labour, it begins to mechanize. Mechanization, it is claimed, increases efficiency, but in reality it is instituted simply to make more money. Alternate jobs may be created for a few. Others will fall by the wayside and become languish. Who cares? People don’t matter from them, profits do. In more sophisticated language what we are really saying is that those who cannot keep up with the technological changes and exigencies of the times do not deserve to live—a concept on which Hitler built the Nazi Party. If society does not care for such people, can we blame them if they become criminals?

Science without Humanity If science becomes all technique and technology, it quickly degenerates into man against humanity. Technologies come from the paradigms of science. This is science that is used to discover increasingly more gruesome weapons of destruction that threaten humanity. The NRA says guns don’t kill people, people kill people. What they do not say is that if people didn’t have guns, they wouldn’t have the capacity to kill as quickly or as easily. If hunting can be considered a sport, it is the most insensitive and dehumanizing sport on earth. How can killing animals bring fun and excitement to anyone? This is pleasure without conscience. When we cease tocare for any life, we cease to respect all life. No other species on earth has wrought more destruction than man.Materialism has made us possessive. The more we possess the more we need to protect and so the more ruthless we become. As punishment, we will kill if some one steals to buy bread. We feel violated. But we will not bother our heads to find out why, in times of plenty, people have to live in hunger. In order to protect and secure our homes, our neighborhoods, our countries from attaèks, we use science to discover frightening weapons of destruction. The debate over the use of the atom bomb on Hiroshima and Nagasaki is a question that falls under this category.

War is sometimes inevitable only because we are such ardent nationalists that we quickly label ourselves by our country of origin, by gender, by the color of our skin, by the language we speak, by the religion we practice, by the town or the state we come from and so on. These labels dehumanize us, and we become mere objects. Not too long ago even wars were fought according to rules, regulations, ethics and some semblance of morality. Then Hitler changed the rules because of his monumental hate and the rest of us followed suit. Now we can obliterate cities and inhabitants by the pressing of a button and not be affected by the destruction because we don’t see it..

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