Are there any situations in business that are legal but unethical? Can you think of any situations that are ethical but illegal? Provide hypothetical workplace examples to support your argument.

Response:

Many situations in business are legal but not ethical. For example, certain business is inherently unethical. One example is check-cashing businesses, which charges extortion-level interest rates to poor people on short-term loans by holding their paychecks as collateral. Once people get into check-cashing cycles, it's almost impossible for them to get out of debt. In a similar vein, I'd argue that many fee structures in the banking and credit industry are unethical. For example, many credit card companies pull people in with low introductory rates, but the rates quickly increase over...