Utilitarianism Vs General Motors

994 Words4 Pages
General Motors is a multinational company that makes and sells vehicles and its parts. In 2009 General Motors had some financial problems. The automotive company had difficulties with their finances, as a result, the company was not profitable and was leaning towards bankruptcy. The company then reached out to the government for money to help with their situation. The Bush-led government decided to use $49.5 billion of taxpayers’ money to help General Motors out. Was this the right choice for the government? General Motor’s debt was converted into preferred and common stock that was owned by the government. The stocks were then offered to the public (Contorno, 2015). General Motors’ bailout cost taxpayers more than $11.2 billion; this included a $826-million write-off in March from government investments in the “Old GM” before the company’s bankruptcy (Frizell, 2014). The bailout was not all bad; by doing what they did, the government saved a lot of jobs. It was reported that approximately 1.2 million jobs were saved. Was the government thinking about saving the lives and well-being of the people of America or was this a tactic to have more influence over the economy? Utilitarianism was first introduced by an English writer of the name Jeremy Bentham. Utilitarianism is a concept that evaluates the consequences of actions of people. Egoism, on the other hand, is behavior that is accepted in terms of consequences for an individual. In other words, egoism promotes acts that
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