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

The Place of religion and Government in Low Value Product DevelopmentA company is fundamentally in business to make money. There ar many so called low look upon products that could prove extremely secure to a large number of people, but are non belike to be profitable from an economic point of view. This situation creates a coordination compound problem that incorporates economics, proficienteousity, private industry, individuals and judicature. It is always interesting and difficult when big business, organisation and ethics are thr testify to situateher, and this problem is no exception. First, it needs to be established whether the low comfort product the company is makeing developing skill not turn a profit, or if it definitely depart not be profitable. If there is a reasonable hope that the product is at least a break-even 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 t he moral aspects of the question, has to be understood within the context of economics. A company is solely not going to do something out of the good of its heart, just because it is the right thing to do. A company must be win over that by investing their time and money into a certain products development, they will directly or indirectly profit from it. Thus, all incentives aimed at get a private company to bring a product to marketplace that will usefulness the public, must in some way benefit the company. There is certainly a moral obligation for true 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 use of goods and services of government 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 t he lone low value product developer, 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.