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16 June, 01:10

What are the strengths and weaknesses of Nozick's theory in relation to business ethics?

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  1. 16 June, 03:10
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    Answer and explanation:

    American philosopher Robert Nozick (1938-2002) believed in "Personal Liberty". He meant individuals work to accrue money and what they accrue they must keep. Under this scenario, the government did not regulate the distribution of wealth because of the risk of them imposing taxes. The strength of the theory relies on the fact that people can obtain what they sacrificed for. The weakness is that non-skilled individuals who cannot work or who can only get jobs with minimum wages are likely to remain in poverty in the long term, while skilled workers would be getting richer and richer.
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