The global economy is so vast and complex, and we know so much about human nature that it would be extremely na\u00efve if we just depended on spontaneous and voluntary ethical behavior to ensure fairness or improve human dignity. For our behavior to be governed and the rule of law to be maintained, regulation and enforcement are essential. A new challenge has arisen with the Fourth Industrial Revolution. Approximately five years ago, the World Economic Forum released appear on values: \u201cGiven the Fourth Industrial Revolution\u2019s extraordinarily fast technological and social change, relying only on government legislation and incentives to ensure the right outcomes is ill-advised. \u201cBy the time they are implemented, they are likely to be out of date or redundant.\u201d The examples of social media and electronic cigarettes illustrate this idea. There is no need to be trapped in the binary opposition described above between regulation and ethical commitment. \u201cComply or explain\u201d allows corporations a certain degree of agility, since the principle allows them to avoid mindless compliance by explaining when an applicable principle does not apply to them. There can be no doubt that the global regulatory environment is complex and will require technical expertise in many areas, but the additional challenge of demonstrating an ethical foundation should not be underestimated. It may be possible to impose legal obligations on Facebook to demonstrate how their users\u2019 dignity is protected, or on e-cigarette manufacturers to provide scientific evidence of the health impacts on consumers, rather than simply presenting auditable algorithms or chemical formulae. The two technologies share some similarities; both operate in highly innovative and rapidly changing environments, and would thus be nearly impossible to specify with enough specificity so that the lengthy regulatory process could complete. The productor service has already changed by the time a regulation is approved. Most consumers think of them as social, and \u2013 from their perspective at least \u2013 relatively harmless when compared to many other priorities of the criminal justice system. Regulators should embrace the Fourth Industrial Revolution rather than fight it. Demonstrating how ethical principles are being applied is not a trick, but rather an important shift to help us see the big picture.
References
Written by Daniel Malan, A. P. of B. E. (2018, June 20). Technology is changing faster than regulators can keep up \u2013 here\u2019s how to close the gap. World Economic Forum. Retrieved April 2, 2022, from https:\/\/www.weforum.org\/agenda\/2018\/06\/law-too-slow-for-new-tech-how-keep-up\/.<\/p>\n","protected":false},"excerpt":{"rendered":"
The global economy is so vast and complex, and we know so much about human nature that it would be extremely na\u00efve if we just depended on spontaneous and voluntary ethical behavior to ensure fairness or improve human dignity. For… Continue Reading →<\/a><\/p>\n","protected":false},"author":15332,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","wds_primary_category":0},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/sites.wp.odu.edu\/jontrejarmon\/wp-json\/wp\/v2\/posts\/297"}],"collection":[{"href":"https:\/\/sites.wp.odu.edu\/jontrejarmon\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sites.wp.odu.edu\/jontrejarmon\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sites.wp.odu.edu\/jontrejarmon\/wp-json\/wp\/v2\/users\/15332"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.wp.odu.edu\/jontrejarmon\/wp-json\/wp\/v2\/comments?post=297"}],"version-history":[{"count":2,"href":"https:\/\/sites.wp.odu.edu\/jontrejarmon\/wp-json\/wp\/v2\/posts\/297\/revisions"}],"predecessor-version":[{"id":310,"href":"https:\/\/sites.wp.odu.edu\/jontrejarmon\/wp-json\/wp\/v2\/posts\/297\/revisions\/310"}],"wp:attachment":[{"href":"https:\/\/sites.wp.odu.edu\/jontrejarmon\/wp-json\/wp\/v2\/media?parent=297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sites.wp.odu.edu\/jontrejarmon\/wp-json\/wp\/v2\/categories?post=297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sites.wp.odu.edu\/jontrejarmon\/wp-json\/wp\/v2\/tags?post=297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}