Free Market Reproduction

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School

Los Angeles Mission College *

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434

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Philosophy

Date

Jan 9, 2024

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docx

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Uploaded by ChefTree8628

1 Week 9 Scenario and Reflection Essay In this week's scenario, the matter under discussion is free market reproduction. Per Dr. Nguyen’s argument, the free market should not be utilized to further an agenda and is not where the issues should be regulated. He claims that we shouldn't be interfering with one system in order to examine ethical concerns in an unrelated system that is separate (Tosh, n.d.-a). Since the market will function as it does, for better or worse, the free market must continue to be completely unrestricted (Tosh, n.d.-a). Conversely, Dr. Reynolds holds the view that the marketplace provides an ideal setting to confront these concerns. Constantly, market regulation is employed to resolve ethical concerns (Tosh, n.d.-a). We might, for instance, wish to promote in vitro fertilization while prohibiting human cloning. Both objectives can be achieved via market regulation (Tosh, n.d.-a). We can expose the hazards of cloning through prohibition, whereas in vitro fertilization receives subsidies (Tosh, n.d.-a). Both transmit solid signals, and the market remains unchanged, either providing alternatives or restricting entry (Tosh, n.d.-a). Prior to listening to the scenario, I personally did not have any significant inclination toward the subject matter of "free market reproduction," so consequently, I wasn't holding a definitive stance on the topic. I did find the issue to be new and intriguing. I think it is essential for us prospective nurses to have comprehensive knowledge regarding matters like this, especially if we wish to pursue a nursing career in research or specialize in obstetric and gynecological nursing in the future. I believe that option C is the most ethical response. Option C expresses support for Dr. Reynolds's viewpoint. It acknowledges that although the market remains empty of bias, our personal biases manifest in the form of demand and supply dynamics that sustain its operation

2 (Tosh, n.d.-a). While our objective is not to alter the underlying mechanism of the free market, it is possible to enforce or loosen regulations, which can be seen as imposing preferred ethical standards (Tosh, n.d.-a). Furthermore, it recognizes that this isn’t unusual; we are merely recognizing that ethical decisions can be expressed through the market (Tosh, n.d.-a). I believe this approach closely relates to the non-consequentialist theory of Virtue ethics. Virtue ethics holds that the character of the individual moral agent is the paramount element of the moral life (Tosh, n.d.-b). Each individual should cultivate character virtues such as wisdom, courage, self- control, justice, honesty, compassion, selflessness, and love (Tosh, n.d.-b). With option C, we are manipulating the system and making decisions based on ethics. It concedes that by enforcing or easing restrictions, desired ethics or ethical standards (self-control, justice, selflessness, etc.) are imposed. I am aware that advocates of a completely free market contend that this allows for efficient operation. However, I think that an entirely free market may sometimes result in consumer exploitation and harm. The purpose of regulations is to safeguard consumers against risky or potentially dangerous practices. These regulations guarantee that companies conduct themselves in an ethical manner and refrain from causing damage to people or the environment. Most modern economies strike a balance between free-market principles and regulations, and it varies widely from country to country and depends on its dominant economic and political philosophy. They implement regulations to protect the public interest while allowing markets to operate efficiently. Ultimately, the question of how much to regulate a free market is a matter of policy and can depend on a country's economic and social goals, values, and the circumstances it faces.

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