The Place of Morality and Government in Low Value Product Development :: Economics Economy Business Papers

The Place of Morality and Government in Low Value Product DevelopmentA bon ton is fundament everyy in business to establish money. There are many so called low value products that could prove extremely beneficial to a large number of people, but are non likely to be profitable from an economic point of view. This situation creates a complex problem that incorporates economics, morality, private industry, individuals and disposal. It is al elans interesting and difficult when big business, giving medication and ethics are thrown together, and this problem is no exception. First, it needs to be established whether the low value product the company is considering developing might not turn a profit, or if it definitely will not be profitable. If there is a reasonable hope that the product is at least a break- level off proposition, the company is much more apt to consider it than if it is certainly going to result in the loss of money. All of this, including the moral aspects of the question, has to be understood in spite of appearance the context of economics. A company is simply not going to do something out of the salutary of its heart, just because it is the right thing to do. A company must be convinced that by investing their time and money into a certain products using, they will directly or indirectly profit from it. Thus, all incentives aimed at getting a private company to bring a product to market that will benefit the public, must in some way benefit the company. There is certainly a moral obligation for developed countries to at least attempt to assist those of the third world, but the burden whitethorn not lie with private industry. Before turning to the issue of how to get private industry to invest in low value products, the role of politics needs to be explored. The governments role as a provider of incentives will be explored later, but its also necessary to look at the possibility of government acting as the lone low value product develo per, leaving private business out of it. This can be broken down even further the governments of underdeveloped and developed countries providing for their own people, or the governments of developed countries providing for the common good of all countries. A government is set-up fundamentally to act for the common good of that nations people. Thus, the government of a country, whether developed or third world, has a moral obligation to do everything in its power to provide for its people, including providing research funding for the development of these low value products.