Fairness And Ethics In Decision Making: Example Essay By An Expert Writer To Follow

Is it fair for a luxury goods company to raise prices on their "It" bag of the season? Why or why not?
It seems fair for a number of reasons. First, the price is one of the reasons why the bag is so special. If many people can afford it, it will loose its ‘desirability’, the sense of its ‘uniqueness’. Second, no one forces people to buy this bag for the high price, as this is not an essential good and people can live without it. Third, company raise prices, because they know that the demand for the items will be high even with the new price, even though it is not an essential good.
Upon graduation, you are offered a job at a good company for $55,000, non-negotiable. You find out the company offers $62,000 to graduates of NYU and Columbia. Do you take the job? Why or why not?
I will take the job if I am satisfied with the offer. It seems fair that students from more prestigious universities get the higher wages. There is an assumption, that NYU and Columbia have more difficult programs and great professors, so the average graduate have more knowledge and training for future job. Also, many people think, that it is more difficult to get in to these universities, so the students are very hard working and aim for the best results.
Some people might think that this is unfair, since students are rated only on the school, and not the actual knowledge they have. However, after some time, in most cases useful and good worker will get a raise, no matter what school he or she went to.
A pharmaceutical company sells a pill that clears up a mild skin condition. However, they then discover that it cures lung cancer. They triple the price. Is this fair or not?
The company that created the cure from lung cancer should definitely get a reward, as they made a great discovery that can save a lot of lives. Even though the discovery was not expected, they put an effort and resources to it. From the companies’ point of view, it seems fair to have higher price as a reward to this discovery. However, from the customers’ point of view,
dramatically raising the price does not seem ethical. In this case Government should step in and regulate the prices on this treatment and pay the reward to the company, as it is considered to be an essential good for people with lung cancer.