Ethics is the set of moral principles that guide a person’s actions and behaviour. Medical ethics is that branch of ethics which scrutinizes clinical medicine practice and research. It is a set of guidelines which, a practitioner in cross roads may refer. It is often the deciding authority in most life and death cases. Another crucial concept in the medical arena is ‘patient trust’, which is in some way, a by-product of the standard of medical ethics. In this article, we shall take a look at what medical ethics is, why it is important, and the changing dynamics of medical ethics as a result of modernisation. The technological and scientific advancements in the current century have been a boon to millions of people. But, the medical professionals are faced with a new set of challenges and difficulties. The physicians increasingly feel the need to match the advancements with the moral dimensions. So often, they are faced with ethical and moral dilemmas. To add to this, ethical standards are very dynamic in nature. What was considered as ethical yesterday may not be so today, and what is unethical today might turn into an ethical practice tomorrow.
Authored by Gopalakrishnan R R, Sastra Deemed University
Insider Trading is an Unfair Trade Practice which has caused quite a stir all over the world. Many public entities are deceived by a trader who deals with diverting information to gain illegal profits. This article talks about the laws enacted by the countries to deal with the situation and how the authorities are functioning with accordance to these laws.
Authored by Sharyu Rumde, School of Excellence, Mumbai University
Corporate Fraud has always been side-lined by our society as the impact of it, is not understood by many. The media has always given more attention to blue-collar crimes as they hold the attention of people more than white collar crimes. Most of the people believe fraud to be a part of business and don’t realise the consequences which will affect them. Being unaware about such topics makes a person vulnerable to these crimes as unlike other crimes, corporate fraud can affect any number of people. The social and economic effects of Corporate Fraud is immeasurable as the number of people affected is enormous. Fraud has been present in our world since time immemorial, even with proper laws corporate fraud has not shown any intention of slowing down. It has quickly spread its wings aggressively affecting our global economy. The influential people are mostly behind these frauds which makes it difficult to detect it or find any evidence relating to it. Hence there is often no conviction in these cases. The prevention of these frauds in the earlier stages is of utmost importance to make sure the company is safe from fraudulent activity. Corporate Fraud is a very serious issue and it should be treated as such before it becomes a norm for employees or executives to participate in unethical ways to gain more money. Some of the cases of Corporate Fraud such as Enron scandal or the Saradha group scam are good examples to understand the seriousness of this crime. This article briefly explains the effect of corporate fraud in our world economy with the help of some well-known corporate frauds which have previously done some serious damage to the respective country’s economy which in turn affected the economy globally.
Product Liability is an emerging law which deals with protecting the rights of consumers. Many times, manufacturers or suppliers sell a defective product which ends up harming a consumer, this field of law makes sure that such harm caused doesn’t go unnoticed and a consumer is compensated for the loss caused to him. Under this law, the sellers are held liable for providing such faulty products/services. This article focuses on the global perspective of product liability by studying the laws enacted by different countries and their applicability to the affected parties.
Authored by Sharyu Rumde, School of Law, University of Mumbai.
The Beirut Explosion is one of the largest blasts the world has seen in recent times. The country of Lebanon has taken a massive hit, but the dreadful history behind the cause of explosion showcases the dark side of Lebanese government. The negligence shown by the government has ended up causing this disaster, a disaster which could have been easily prevented. This article focusses on the cause of the problem and highlights how necessary protocols were grossly violated.
Authored by Sharyu Rumde, School of Law, University of Mumbai.
The advent of technology and internet forums has accelerated global economic growth. This greatly facilitated the process of collecting, processing and spending money on price trading in the hands of large companies and start-ups. Often referred to as ‘big data’, this concept calls for a large amount of high-quality data collected and processed by computer software to produce unique data for high-value commercial data. whether big data use affects market competition. Even under compulsory provision, access to big data can lead to unethical behaviour. For example, large businesses need to enter into special agreements with data companies’ analysts and data providers to gain competitively competitive data. They can also predict the market by making it difficult for their users to use or accept their competitors’ platform.
The enactment of the Competition Act, 2002 (the Act), the principal legislation governing compe-tition law in India, along with the establishment of the Competition Commission of India (CCI) as its chief enforcement authority, has been one of the biggest game changers in the Indian regulatory space. As with competition regimes in mature jurisdictions, India’s competition law covers the regulation of anticompetitive conduct, abuse of dominance and unilateral conduct, and combi¬nations. This chapter focuses on the enforcement of provisions relating to abusive conduct of enterprises and explores the evolving trends in this area.
State and social power and structure are based on theories and principles of conduct constitute the operation of public law. The National Competition Policy will be the Second Wave of changes that make the competition regime stronger and more efficient. Twenty years ago something was important changes seen in the Indian market. The benefits of the Factor flow control environment are many and are manifested in various areas such as telecom transport and manufacturing.