SUS1501 Assignments 2-8 (Latest Updated)

SUS1501 Assignments 2-8 (Latest Updated) .State your proposed act as a maxim: I will take ZAR .00(A) when l've done a year's work (C) in order to get really rich. 2. Restate the maxim as a universal law: "All people (7 billion of them) will take ZAR 620 000 000.00 when they're done a year's work in order to get really rich. 3.If all 7 billion people earn ZAR .00 annually, then the financial system needs to have a minimum of R 000 000.00 to cater for everyone which is not feasible as the financial system does not have enough resources to cater for everyone. This would eventually lead to asset bubbles in the markets and the financial system will crash and could result in a recession just like the one seen in 2008. 4. Ask whether you would act on your maxim in such a world. Imagine that the world's money supply is unlimited. In this global economy for this maxim to be conceivable, if everyone earns ZAR .00 annually, in order to be very rich. It would pass Step 3. The problem with this is that it would mean that the global financial system must be increased. For more money to enter the banking system it means that more money must be printed. If more money is printed on a continuous basis, inflation is eventually created and it can spiral out of control. Eventually goods will be more costly as their prices rise meaning that the money will have less purchasing power with time and this can lead to people having lots of money in bank accounts but little or no value. If a loaf of bread rises to let’s say ZAR .00, that means that a year's salary will only be able to buy 6 loaves of bread only in a year and this can indicate poverty since one cannot afford to buy basics to survive. If people are poor due to inflation, eventually one would not be satisfied with the ZAR .00 annual salary because that money would now be worthless and this maxim would fail at Step 4. I would not act on the maxim if it meant that everyone earning such amounts of money would bring about inflation and therefore poverty would be on the rise and eventually will be on its knees. ( ht tp://w w w .c s us. ed u/in div /g/ gaskil ld/ethic s/ka nti an%2 0et hic s . ht m Accessed 2017, August 14) Step 2: Form an opinion The student’s opinion is written below and compare that with the teaching assistant’s response. The student’s opinion is in dark blue and the teaching assistant’s is in red. Downloaded by Tumelo Sedwaba () lOMoARcPSD| Students opinion. What would Kant probably have said about Whitney Basson (or u) earning ZAR 620 000 000.00? This maxim fails at Step 3 and mortality is not recognised at this stage. Perfect duty is what Kant would use to describe step 3 so that one should avoid performing this maxim. Based on the fact that it is an annual salary, Kant would consider it to be immoral. ( ht tp://w w w .c s u.s . edu/i ndiv /g/ga skilld/eth i cs/k anti an%2 0et hics Accessed: 2017 August, 14) According to the news report, Whitey Basson's total income totalled a sum of R627.6 million which included share options to the amount of R594.5 million. According to Kant, he would support Basson's getting the amount he would receive since he worked hard for years to receive this amount of money over decades. According to chairman, Wiese, Basson's share options were generated over 40 years. It would be unfair to look at this amount of money as a single year's worth of salary. Since Kant believed in rules, despite the consequences and doing the right thing, he would say it is only fair for Basson to receive this amount of money since he worked for it. It was not an overnight thing so he deserves to enjoy the fruits of his labour. Wiese adds to say that Basson had rare business talent, a great team and the money earned is testimony of that. If lazy people also earn the same amount, it would be injustice on the part of the company to give Basson less than he deserves. Wiese continues and says that he does not pay more than is required therefore Basson's hard work must be noted. ( ht tp://w w w .mo n e ywe b . c o. za/ar chive / Wh i tey - is-sus-t a p - ea r ni ng - exec ut i ve-again / Accessed: 2017, August 14) What do you think about Whitey Basson (or you) earning ZAR .00? Why do think so? I think that Whitey Basson deserves this salary. Originally I opted for option E in assignment one because I thought that he might have had corrupt practices that led to such a high salary. But after discovering that it was worth 40 years’ worth of work, I think that the man deserves a reward for hard work. If everyone in the firm earns that amount then it would not be right since they would have worked for only a year to receive such money. If others say that such practices are immoral, then we would have failed to provide justice where it is needed. Thieves get rich by robbing people of their money but if a man labours for his wealth, sacrificing to build an empire that will create more jobs and be a part of economic growth in the nation, then I do not see why he should not get the right amount of money that he deserves to earn. Shoprite has now taken over Pick and Pay in terms of market share so why shouldn't he enjoy the fruits of his efforts. If a thief walked into your house and stop your furniture, you would report the matter to the police and have them arrested. So why should the firm not give the man his dues. It would be daylight robbery. Yes inequality is inequality and yes poverty around but that does not mean that a person should not enjoy their money just because of poverty. If you got half your salary, let’s say half of R30 000 monthly salary, you would take the firm to the CCMA so why can't Whitey do the same. Anyone who complains is just selfish and jealous of another person's success. Also it is not mandatory for him to give to the poor. If he decides to buy a private jet so be it, it's his money. If he decides to give the poor, then it’s his money. Nobody forces anyone to use their income to give to the poor, so why should he be the exception. Downloaded by Tumelo Sedwaba () lOMoARcPSD| Teaching assistant’s opinion and answer Right, those were the mistakes. Let me get on to the debates: Firstly, there wasn’t always very much of this! And this is sad and surprising. Why surprising? Well, basically there were 2 opinions which students expressed about the R620 000 000. The first was that there was no problem with this. The second was that this was totally unacceptable. These are polar opposites. And in many cases they were expressed right next to each other. But just about no-one said: “Hey! I really don’t agree with what you said and this is why…” For future assignments, your teaching assistants and I are going to look for signs of debate and we are going to find a couple of extra marks (up to a maximum of 10%) for students who really engage. And finally, since we are speaking of debates, I think it is only right that I tell you what I think about the R . NB - Before you read my opinion however, read this. I have read a number of comments on various web pages that say that while we ask for your opinion what we really want is for you to give us our opinion back. Nope - this is not what we really want. What we really want is for you to give us your opinion. Whether it is the same as mine or that of your TA is immaterial. The point is that whatever it is, it must be well defended. If it is well defended you will get the marks. In fact the easiest way to get 100% for an assignment would be to convince your TA that what they had always believed was in fact incorrect!