by sabastious 63 Replies latest social current
That brings up an interestng ethical dilemma. I am a businessman myself and my business is doing well. What if I come up to someone who wants to make a blatant unprofitable decision involving my services? Do I just take the money and not say anything?
-Sab
The real value is not in the money, it is in the things that money is used as a medium of exchange for.
Unless you are a bank.
-Sab
I guess it depends. You could tell them that you think their business decision will not go well, or not tell them. It isn't your responsibility to give them financial advice though, unless that is the service you are providing. If they want your services and you refuse, they will probably just go to someone else anyway.
Unless you are a bank.
Even the bank's money is worthless if it can't be used to buy anything real. All it would be is paper and bits in a computer.
What if I come up to someone who wants to make a blatant unprofitable decision involving my services? Do I just take the money and not say anything?
That's what people do when they win the lottery. Lots and lots of people who don't win the lottery pay for it, plus a profit for the state.
The difference?
You don't have to play the lottery (if you understand statistical mathematics).
But you DO have to play the economic system game.
The lottery is a cool example.
But what if someone wants to pay way too much for something I provide? Am I obligated to speak up as someone with more knowledge on the subject?
-Sab
Even the bank's money is worthless if it can't be used to buy anything real. All it would be is paper and bits in a computer.
Yes, but it is worth noting that banks do not necessarily have to deal in anything money can buy to make more of it. They just need money to make money.
-Sab
But what if someone wants to pay way too much for something I provide? Am I obligated to speak up as someone with more knowledge on the subject?
Nope. If they make an offer for something you can provide them, and the price is agreeable to you, you do not have any obligation. If your conscience bothers you, then say something, but that is up to your conscience.
But what if someone wants to pay way too much for something I provide?
This is how collector car auctions work. Let's say I put my Ferrari up for $125,000 reserve, but two guys get into a bidding war and the winner ends up paying $165,000.
I get $40,000 over my minimum selling price - and I don't see that this is unethical. It was worth the $165,000 to the guy that bid it - at least at that moment in time (what with all the hospitality champagne).
The only way I would be unethical is if I did not give him a clean title, or misrepresented the car. Like maybe selling him a Corvette with an aftermarket fiberglass body (if he were that drunk).
Great example James.
