Q.1. Discuss why some of the current issues/crisis in the healthcare industry present a challenge in reaching “pareto optimality”.
Food for thought:
To what extent do the actions/behaviors of government leaders combined with specific industry mandates influence these outcomes?
Q.2. Pages 17-19 Hosmer (2011) provides some insight on the largest financial scam in history (please reference to respond to this question):
What lessons can be learned following the Bernie Madoff – investment fraud? (Please comment from an economic legal, and ethical perspective).
Q.3. Please read case 1.5: “Lead Paint on children’s toys: Who was responsible?
Respond to these questions:
What is the perceived moral problem in this case?
- Is it right to market popular and appealing wooden toys manufactured under high cost and time pressures to the parents of pre-school children without inspecting those toys for any loose parts, sharp edges or chemical coatings that could harm those children?
2. Consider the legal requirements in this case and discuss how the laws may have impacted the results of this case.
3. From an ethical perspective, what were some of Mattel’s utilitarian duties, universal duties, and personal virtues?
4. If they implemented inspection program to prevent against such crisis, who should bear the costs?
5. Are there any good alternatives to an inspection program?