business law definitions
Does anyone know of an example of a conventionalist ethic in use?
The definition of a conventionalist ethic is business is like a game with permissive ethics and any action that does not violate the law is permitted. I understand the concept but I cannot relate it to the business world with an example. Any ideas? Thanks for your help.
A good example is how health insurance companies work to exclude anyone who might actually get sick. Private health insurance companies spent quite a bit of effort and money reviewing a person’s health history and even family history. If they are more likely than average to cost the insurance company money, they either turn them down or charge prohibitive rates to dissuade them from buying insurance.
Now suppose you founded a health insurance company and made an ethical decision to take all comers. The applicants you would get would be all the people who had been turned down from the other companies. People on blood pressure medication, anti-depressants, people with diabetes or cancer in their past. You would soon go out of business!
Corporations are in business for one reason only, to make a profit, as big as possible. By cherry-picking only healthy people to insure, insurance companies cause a huge problem in the US, people who simply can’t afford health insurance. The insurance companies see it as not their problem. One solution would be to force ALL insurance companies to disregard pre-existing conditions and set rates based on the expense of everyone in the same pool. (They do this in several US states). In the absence of this law, cherry-picking only healthy people is ‘conventionalist ethics’.
Learn Business English ESL Vocabulary: Commercial Law, 1
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