Exam (elaborations)
SUS1501_assignments_2_8 2023
- Institution
- University Of South Africa
Exam of 55 pages for the course SUS1501 - Sustainability And Greed at University of South Africa (latest)
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SUS1501 Assignments 2-8,Assignments
2-8
, lOMoARcPSD|7257373
SUS1501 Assignments 2-8
Assignment two _Student example
The student got 65% for assignment two.
Do the Right Thing
Student name: XXXXXXXX
Student number: XXXXXXX
Step 1: Evaluate the act using Kant's categorical imperative.
1. State your proposed act as a maxim: I will take ZAR 620 000 000.00(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
1 000.00 when they're done a year's work in order to get really rich.
3. If all 7 billion people earn ZAR 620 000 000.00 annually, then the
financial system needs to have a minimum of R 4 340 000 000 000 000 000.00
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 620 000 000.00 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 100 000 000.00, 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 620 000 000.00 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. (http://www.csus.edu/indiv/ g/gaskilld/ethics/kantian%20ethics.htm
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 Rufaro Chikovore (chikosrufa@gmail.com)
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