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In the 1970s the Ford Motor Company sold its sub- compact Pinto model with known design defects. In particular, the gas tank’s design and location led to rupture, leaks, and explosion in low-speed rear- impact collisions. Fifty-nine people burned to death in Pinto accidents. Ford had conducted a cost-bene?t analysis weighing the cost of ?xing the defects ($11 per vehicle) versus their potential liability for law- suits on behalf of accident victims, where Ford placed the value of a human life at $200,000. Ford eventually recalled 1.4 million Pintos to ?x the gas tank problem at a total cost of $30 to $40 million. In addition the company ultimately paid out millions more in liability settlements and incurred substantial damage to its reputation. (a) Critique Ford’s actions from the perspective of the NSPE Code of Ethics. (b) One well-known ethical theory, utilitarianism, suggests that an act is ethically justi?ed if it results in the “greatest good for the greatest number” when all relevant stakeholders are considered. Did Ford’s cost-bene?t analysis validly apply this theory? (c) What should engineers do when the product they are designing has a known safety defect with an inexpensive remedy? Contributed by Joseph R. Herkert, Arizona State University.
Discuss which of the 10 surprising facts about money impacts
Who of the following is not in the Bureau of Labor Statistics' "employed" category?
Commercial bakeries typically sell a variety of products (breads, rolls, muffins, cakes, etc.) to local grocery stores. There are substantial economies of scale in production of each one of the bakery products, which makes it cost-effective to specia..
Discuss the macroeconomic supply of labor. Under which circumstances would you expect zero elasticity with regard to the real wage? In the real world this elasticity more often than not differs quite a bit from zero. Is this compatible with the theor..
Characterize labor conditions in the new economy. Address the following: What working conditions do most people have? Who controls labor conditions?
California is a large producer of strawberries. Oh No! There is a killer frost that kills half of the crop! (A)How has this affected supply or demand of strawberries? (B)What has happened to the price of strawberries? Please justify your answer by gr..
Rather than look at the effect on the "competitiveness" of the dominant firm, should the Commission have not also considered the effect of the dominant firm's conduct on efficiency?
In the equation of exchange, suppose V is stable (constant) with a value of 4, andthe money supply is $200 billion. What combinations of P and Y are possible? Identify about a dozen combinations, and plot them on a graph. Does your graphlook like an ..
Reducing corporate tax rates is often considered as a policy tool to enhance investment. How could the presence of tax loopholes diminish the relationship between corporate tax rates and corporate investment?
Does the production technology exhibit increasing/decreasing/constant returns to scale.
newspaper reports frequently suggest that the administration regardless of who is president wants the fed to lower
Please consider a product that has five different price points per unit: $100, $200, $300, $400, and $500 find out the corresponding Quantity Demanded (Qd) and Quantity Supplied (Qs) from the following two equations: Demand equation, Supply equation.
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