Hi,
Im using the 2012 books.
“Compare the Friedman doctrine, Utilitarianism, Kantian Ethics, and Rights and Justice Theories as approaches to ethical decision making” is new section in Behavourial Finance.
Can someone please confirm what this is?
From google I guess:
Friedman says maximise profit-thats the only concern.
Utiliartian says maximise utility, be it profit or less risk.
Kantian says act morally??
Rights and Justice theory says ??
Please correct this for me 
why don’t you read the business ethics part in Volume 3 . It is much clearer and all in 1 place
Also 2012 books may not be the right material . 2013 curriculum revised corp governance ( replaced the old one )
Why reply if you’re not going to answer the question. There is 1% change in the curriculum, 2012 books are fine but missing 4 or 5 small new paragraphs such as the above. Answer the question or be gone.
Unfortunately Rights and Justice is too big to post on AF.
Search “veil of ignorance” and read Wikipedia entry on John Rawls. That roughly covers it.
Janakisri has been a prolific and helpful poster and what he says is absolutely true so please be a little more respectful.
Not the sort of post calculated to encourage people to help you.
and after 11 posts… I think you allydel should be gone!
Congrats cpk123, you have 1589 AF posts. Put that on your CV.
Peace
Let me try this in 1 sentence each.
Friedman emphasizes shareholder profiit maximization , but also stresses that business should play a fair game and not destroy the common good ( a.k.a environment pollution ) . People don’t like him because he does not stress justice or rights as much as other theorists.
Utilitarianism emphasizes greatest good for greatest number of people. People don’t like it because it de-emphasizes justice and can be ambiguous about the common good .
Kant emphasizes essential dignity of man . He appears to be more concerned about sweatshop workers than anything else. justice is indirectly derived from respecting dignity.
Rauls stresses on rights thru the veil of ignorance . Give everyone basic rights of choice, speech , freedom etc. , then provide unequally to the few so that the bottom rung of society benefits .This is supposed to provide justice in a convoluted socialistic sense.
Rights theories say that its ok to be just and consider utility but never at the cost of overriding the rights of the individual , the shareholder, the stakeholder e.g. government , community , public etc.
Well, if you’re registered for the test, then you have at least been issued the 2013 books.
Since that is (quite literally) the ONLY portion of the curriculum that has changed, maybe you can study that one part out of CFAI books instead of last year’s Schweser.
+2. My thoughts exactly. Just read the required readings. Now be gone!
“Now be gone!” sounds like something the S2000magician should say as magicians do.
But all is forgiven…people are stressed out.
allydel could be like me, an old timer with a new screename for a new level, can’t take everything you see as is as presented.
Thanks Janakisri . Your answer is cocise and up to the point.
Why would anyone use 2012 when you can’t take the exam without also buying the most up to date version? Serious question. Is there a loophole I don’t know about where you can sign up for the exam and not have to pay for the CFAI books?