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What Is a Code of Ethics? How Does It Differ

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Essay

What is a code of ethics? How does it differ from a corporate credo and an ethical policy statement?


Definitions:

Utilitarians

Individuals or philosophers who believe that the best action is the one that maximizes utility, often defined as maximizing happiness and reducing suffering.

Sum of Utilities

The aggregate measure of satisfaction or benefit that individuals get from consuming goods and services.

Liberalism

The political philosophy according to which the government should choose policies deemed just, as evaluated by an impartial observer behind a “veil of ignorance”.

Sum of Utility

The total satisfaction or benefit derived from consuming a particular set of goods or services.

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