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Egoism: Insider Dealing

Insider dealing is not incorrect according to egoism since it benefits an individual's self-interest (MacKinnon & Fiala, 2016). However, using utilitarianism is incorrect since it does not optimize the well-being of all beings. Furthermore, it is incorrect to use virtue ethics since it causes other parties that do not have this knowledge to suffer (Hinman, 2012). As a result, it does not represent a person's best qualities. By applying duty-based ethics to this action, we should conclude that it is morally false. It entails making the most of a situation.
When using the egoism method, the broker's conduct of forwarding the insider tip to Martha was just ethical. The principle calls for pursuing one’s individual interests (Hinman, 2012). Thus, the insider tip allowed the client to profit from the information without minding the welfare of the other. However, the action as unethical when assessed using utilitarianism since it only assisted one client and did not maximize the benefits of the other people who held the firm’s shares. Additionally, the act was unethical when viewed using virtue ethics. It did not mold a good character in a person since it is selfish in nature (Hinman, 2012). Moreover, it is unethical when one uses duty-based ethics as it is fundamentally wrong to engage in insider trading.

It was only ethical for the client to save herself from losses using the tip if one uses the egoism approach (MacKinnon & Fiala, 2016). The approach emphasizes the need to maximize individuals’ interests. However using utilitarianism, it is wrong since the action did not maximize the interests of the majority. Moreover, the trading was unethical using virtue ethics since it did not portray an appropriate character on the part of Stewart (MacKinnon & Fiala, 2016). What is more, it was unethical while assessing it using duty-based ethics since acting relying on an insider tip is inherently immoral.

References

Hinman, L. M. (2012). Ethics: A pluralistic approach to moral theory. Cengage Learning.

MacKinnon, B., & Fiala, A. (2016). Ethics: Theory and contemporary issues. Cengage Learning.

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September 21, 2021

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