loped by Jeremy Bentham and then advanced by John
Stuart Mill; Utilitarianism is outcome oriented, focusing on the consequences of an action and not on the nature of the action itself or any set of pre-established moral values (Miller & Jentz, 2000). I do not believe that government should have more control over the market than it currently does and feel that a free and competitive market should determine the success of a product or service. In the case of tobacco, a substance that is known to cause negative health effects, the government has already intervened by requiring warnings on product packages and prohibiting sales to underage buyers. Companies in the sector have been fined and forced to make restitution on behalf of individuals who have suffered poor health effects from using tobacco. This is sufficient because using tobacco products is a choice that is made by individuals and individuals should have the freedom to make informed choices.
Question 4. Fred Whittlesey (2010), a Chief Compensation Officer, takes the position that it is inappropriate to compare CEO pay to average worker pay because their job skills, competencies, and expertise required of a CEO do not equate to those found in a typical job description. This author notes that the supposedly overpaid CEOs are those who manage the top 200 to 500 public companies in the United States - companies requiring CEOs to put in 70 hour weeks, dedicating most of their waking hours to the job and otherwise focusing exclusively on their business activities. Whittlesey (2010) notes that the rock group U2 made $260 million gross receipts on a 2005 tour or about $1 million per hour and suggests that when one puts CEO salaries into perspective, it becomes apparent that they may not be excessively over-compensated for the most part. I tend to agree, while still recognizing that CEO pay should also be related to actual company performance and profitability with succ...