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Business Ethics Week 2 - Term Paper Example

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It is a legitimate action on the part of government mainly done in public interest. However, when embarking on such actions, the…
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Business Ethics Week 2
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Download file to see previous pages “Eminent Domain shall not be exercised unless it substantially furthers an important Government interest, and with respect to housing unless it specially fulfills an overriding Government purpose” (Ryskamp, 2007, p. 31).
One can accept Eminent Domain as a positive activity if done to take over a decayed or unused area, for constructing institutions like hospitals, schools and other inevitable human requirements, for real economic development of the land, which is in public interest. It will also open up employment avenues and increase revenue of the community. Thus, the final result will be the revitalization of the community around that vicinity.
Eminent Domain right will negatively affect individual who are living in that area for a long time, or have been locating their business centre in that area over a considerable period of time. Obviously, their fear that it will affect their business negatively is justified. Therefore, they may not be willing to part with their properly.
The confiscation of one’s property without his full will despite for being a ‘just compensation” relates to a person’s feelings and emotions. A person apart from the money worth has feelings and memories attached to a place because it might be his or her roots. Therefore, it hampers the individual’s sentiments when the property or place is confiscated without the full permission of the individual.
Quality and professional standard will have distinguished improvement and professional entry will be restricted which will help both government and public to avoid malpractices and encourage healthy competition. Renuemaration and wages of the professionals will have positive changes. Demerits includes factors like consumer cost will be relatively higher and it will force the consumer pay more for specialized work. Besides, it will also restrain the mobility of practitioners. ...Download file to see next pagesRead More
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