Essay: Development of Regulation

17 Oct

Essay: Development of Regulation

Sample Essay

The works of Nirmala Dorasamy will be reviewed in order to analyze the development of public interest theory as an economic regulation. It will be noted in her works that the main theme centers on public interest; or better still, from the point of view of self interest to the point of view of public interest within the pretext of evolved business ethics.

The paper takes into account Lawrence Kohlberg’s study on moral development in order to insightfully capture the diverse and unique levels of impact that self-interest and public interest may possess in a bid to promote ultimate levels of business ethics. By so doing, an illustration to show the significance of public interest in fostering quality levels of business ethics will be effected. Much focus centers on the capacity of businesses driven by public interest Vis a Vis self interest in lessening unethical behavior (Nirmala 2009).

By and large, it is widely believed that some businesses are in operation with an egoistic objective or better still, characterized by self-interest. But on the other hand, it also widely believes that business aim at realizing certain public interests embedded in fundamental moral objectives. Nirmala states that a business that operates for the sake of self interest does so at stage 2, a premature stage of moral development and it is in this stage that egoistic businesses operate. This premature stage is also referred to as the preconvention stage. On the other hand, at stage 4 there will be found the dynamics of that business which operates in the best public interest of all. It is in this stage that one can talk of quality business ethics.

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