By: Ronald F. White, Ph.D. Professor of Philosophy College of Mount St. Joseph

Buyers and Sellers Moral Principles –Liberty vs. Coercion –Beneficence –Harm –Truth-Telling –Trust –Utility

Rationality and Free Will Contracts as Promises Disclosure of Information –Known benefits –Known costs Manipulation of Information

Human Nature Reason and Information Free Will vs. Coercion Respect for Persons Offers Exploitation –Beneficial –Harmful

Children Poor Elderly Mentally Ill Uneducated Desperate

Purpose of Advertising Disclosure of Benefits and Harms Persuasive Advertising Coercive Advertising –Fraudulent Advertising –Deceptive Advertising –Manipulative Advertising Self-Identity Image Advertising

Salesmanship as Poker –Deception –Exaggeration (Puffery) –Bluffing Salesmanship and Fiduciary Relationships –Asymmetrical Information Technical transactions: Physicians, etc

Product Safety Issues –How safe is safe? –Individual, collective, and shared responsibility –Justice in compensation Informational Problems –Knowledge of harm to specific individuals caused by a corporate product or service. –Knowledge of the specific cause of that harm –Individual v. collective responsibility –Corporate responsibility for employees and subcontractors.

What is Price? How does price affect stakeholders? What is a Fair Price? –Unpatterned free market model Opportunity based pricing Competition –Quality –Price –Patterned regulatory model Risk-based pricing Cost-based pricing Justice-Based Pricing –Merit, need, equality, utility

Monopolistic Behavior –Natural monopolies –Artificial monopolies (licensure, patents) Market Segmentation (justice) Needs and Wants –Desperation and Exploitation Price Gouging –Opportunity based –Risk based –Cost based Price Controls Controversial Areas –Food, shelter, health care, education