Freeman And Martin Shkreli

Decent Essays
The primary sense of the term [business ethics] refers to recent developments and to the period, since roughly the early 1070s, when the term came into common use in the United States” (George, Web). This means that business ethics has become a huge deal over the last recent years. “Additionally, Martin Shkreli acted unethically when he raises the price of a useful drug to certain people who needed it to survive. One person that would argue that Shkreli was acting unethical is R. Edward Freeman.
A website in the internet informs that Martin Shkreli was born to Albanian and Croatians immigrates, and he grew up with two sisters and a brother. Moving one, the article states that Shkreli attended Hunter College High School and started interning
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Edward Freeman would believe just the opposite. Freeman believes the opposite of Friedman. Freeman argues the opposite by stating that “the basic idea is that businesses, and the executives who manage them, actually do and should create value for customers, suppliers, employees, communities, and financiers [or shareholders]” (Freeman, 39). This passage suggest that Freeman believes in the stakeholder theory, and that a stakeholder can be anyone: an employee, a customer, the community, etc. Freeman counter argument to Friedman is that Shkreli forgot the most important rule in modern business, “The customer is always right.” Friedman theory might have been ethical to use in the old days, but in recent years a business being ethical includes taking it customers opinion into account. Friedman fail to realize that workers and employees play a huge role in business making profit. Additionally, the web states that “For decades, there wasn’t any competition to Daraprim for the simple reason that there wasn’t much money to made selling it” (McLean, Web). This is yet another prove that Shkreli didn’t had a reason to raise its price. Because they have no competition, then they didn’t have a reason to raise it price. “He acquired the U.S. rights to a lifesaving drug and promptly boosted its price over 5,000 percent” (Mclean, Web). All things consider, it is understandable that the drug cost money to make, but raising the price to 5000% is outrageously high. For this reason, I believe that if he would have just double the price, it would have been such a huge deal/unethical. Moving one, in Freedman’s eye Shkreli failed to take his customers into account, and what is worst he hasn’t apologized to its customers. Overall customers have become extremely important to a business, and if you failed to put customers first the business will not be
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