Q.12. What are the ethical perversions of private sector? Describe the three options of ethical life.

Ethical perversions in the private sector refer to actions and practices that are considered unethical and unacceptable in society. Some of the main ethical perversions include:

• Environmental Damage: Engaging in activities that harm the environment, such as excessive exploitation of natural resources and pollution.
• Exploitation of Workers: Not complying with labor laws, providing low wages, denying overtime payments, and maintaining unsafe working environments.
• Discrimination: Engaging in discriminatory practices in employment based on race, gender, religion, or other factors.
• Corruption: Using corrupt practices to gain tenders or contracts from government agencies.
• Improper Competition: Engaging in unfair competition practices like price fixing and predatory pricing.
• Exploitation of Consumers: Misleading customers with false advertising and overcharging for goods and services.

The three options of ethical life are:

• Following the Principle of Virtues (Virtuous Way of Life): Living a moral life by adhering to virtues regardless of circumstances or outcomes. This approach emphasizes virtues like truth, honesty, courage, compassion, and justice.
• Following the Principle of Duty (Deontological Way of Life): Living life based on duty, following rules and procedures despite adverse results or conflicts with virtue. This approach is governed by traditional rules and promises.
• Following the Principle of Utility (Utilitarian Way of Life): Living life based on the principle of utility, aiming to achieve the greatest good for the greatest number. This approach considers the outcomes and consequences of actions.

These ethical perspectives offer different approaches to living an ethical life, each with its own set of principles and values that guide behaviour and decision-making.