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w7: Ethics and economics I /2548

Topic 2

Learning materials

w7: Introduction to economics and ethics ‘handout’ [pdf]

>>> Watch this: ** Michael Sandel’s 2013 TED talk in Edinburgh **

Lecture reading

** Sandel, M (2012), What money can’t buy – The moral limits of markets, London: Allen Lane **

Background and context

Ariely, D (2009), Predictably irrational, London: Harper

Crane, A and Matten, D (2015), Business Ethics: Managing Corporate Citizenship and Sustainability in the Age of Globalization (4th ed), Oxford: OUP

Michael Sandel’s talk at Aspen Ideas Festival 2012

Rodrik, D (2017), The fatal flaw of neoliberalism: it’s bad economics, The Guardian, Nov 14th

Why is ethics important in economics? Examples

Guardian staff and agencies (2020), Bayer agrees to $10.9bn settlement over Monsanto’s weedkiller Roundup, The Guardian, June 24th

Associated Press (2020), OxyContin maker Purdue Pharma to plead guilty to three criminal charges, The Guardian, Oct 21st

Carrington, D (2020), Firms making billions from ‘highly hazardous’ pesticides, analysis finds, The Guardian, Feb 20th

Ellis-Petersen, H, Chandrasekhar, A and Safi, M (2020), Factory behind India gas leak operated illegally until 2019, The Guardian, May 11th

Burke, J (2020), India’s chemical plant disaster: another case of history repeating itself, The Guardian, May 7th

Davies, R (2020), Exploited workers at UK garment factories ‘robbed’ of £27m since July, The Guardian, Oct 11th

Bland, A and Butler, S (2020), Next, Asos and Amazon drop Boohoo amid Leicester factory claims, The Guardian, July 7th

Boffey, D (2020), Apple does not need to pay €13bn Irish tax bill, EU court rules, The Guardian, July 15th

Sweney, M (2020), Amazon given €294m in tax credits as European revenues jump to €32bn, The Guardian, April 21st

Butler, S (2020), Amazon UK pays 3% more in tax despite 35% rise in profits, The Guardian, Sept 8th

Collinson, P (2019), Women paid £260,000 less than men over their careers – report, The Guardian, Oct 28th

Jolly, J (2020), Investing in firms with better record on social issues pays, study finds, The Guardian, May 18th

Gibbs, S (2020), ‘We are creating change’: the ethical phone maker making business fair, The Guardian, Aug 15th

Butler, S (2020), Ikea to buy back unwanted furniture for up to half original price, The Guardian, Oct 13th

Previous examples

Butler, S and Topham, G (2017), Uber stripped of London licence due to lack of corporate responsibility, The Guardian, Sept 23rd

Chakrabortty, A (2016), Boots staff under pressure to milk the NHS for cash, says pharmacists’ union, The Guardian, April 13th

Chamberlain, G (2019), Schoolchildren in China work overnight to produce Amazon Alexa devices, The Guardian, Aug 8th

Davies, P (2019), Tobacco firms accused of using gimmicks to subvert plain packaging, The Guardian, Oct 20th

Evans R et al (2016), Rolls-Royce middlemen may have used bribes to land major contractsThe Guardian, Oct 31st

Farrell, S (2016), World’s 20 biggest banks rack up £252bn ‘conduct costs’ in five yearsThe Guardian, July 18th

Glenza, J (2017), Tobacco companies interfere with health regulations, WHO reports, The Guardian, July 19th

Hopkins, N and Bowers, S (2017), Apple secretly moved parts of empire to Jersey after row over tax affairs,The Guardian, Nov 6th

Kollewe, J (2017), Kobe Steel scandal deepens over quality of products used in cars and aircraft, The Guardian, Oct 11th

Laville, S (2018), UK plastics recycling industry under investigation for fraud and corruption, The Guardian, Oct 19th

Levin S (2018), Monsanto ‘bullied scientists’ and hid weedkiller cancer risk, lawyer tells court, The Guardian, July 10th

Levin, S (2019), ‘Bias deep inside the code’: the problem with AI ‘ethics’ in Silicon Valley, The Guardian, Mar 29th [ see also Criado Perez, C (2019), Invisible women: Exposing data bias in a world designed for men, London: Chatto & Windus ]

McGreal, C (2019), Four big drug firms agree to $260m opioid payout hours before trial set to begin, The Guardian, Oct 21st

Monaghan, A (2016), Pfizer fined record £84.2m over NHS overchargingThe Guardian, Dec 7th

Monaghan, A (2017), Rio Tinto charged with fraud in US and fined £27.4m in UK, The Guardian, Oct 18th

Neslen, A (2016), EU drops law to limit cancer-linked chemical in food after industry complaintThe Guardian, Oct 26th

Neslen, A (2017), Nestlé, Hershey and Mars ‘breaking promises over palm oil use’, The Guardian, Oct 28th

Neslen, A (2018), Nestlé under fire for marketing claims on baby milk formulas, The Guardian, Feb 1st

Osborne, H (2016), Uber loses right to classify UK drivers as self-employedThe Guardian, Oct 28th

Pegg, D (2017), Tax avoidance by big firms is morally wrong, say nine out of 10 in UK, The Guardian,  Nov 27th

Pegg, D (2018), From Seattle to Luxembourg: how tax schemes shaped Amazon, The Guardian, April 25th

Rankin, J (2017), EU to investigate UK tax loophole for multinationals, The Guardian, Oct 25th

Reuters (2018), Nissan says emissions and fuel economy tests were falsified, The Guardian, July 9th

Rushe, D (2018), VW emissions scandal: US charges ex-CEO with conspiracy and fraud, The Guardian, May 3rd

Sweney, M and Butler, S (2019), Amazon Europe received €241m in tax credits in 2018, The Guardian, Sept 9th

Thielman, S (2016), Volkswagen to pay $14.7bn settlement and buy back cars from consumersThe Guardian, June 28th

Wahlquist, C (2019), Volkswagen’s $75m fine over diesel emissions scandal rejected by judge, The Guardian, Oct 16th