Ethical dilemma Essay Example | Topics and Well Written Essays - 250 words - 3

Ethical dilemma - Essay Example The International labor Organization (ILO) 2007 statistics â€Å"there are about 218 million working children globally and accounting for about 20% of India’s GDP† (Gupta et.al 291). The annual cost of ending child labor includes the cost for providing income lost by the children and providing education. On the other hand, the benefit of eliminating child labor is more than seven times of that cost due to gains from increased human capital, fewer deaths from accidents and improved health (Gupta et.al 300). Therefore, child labor is a huge loss to the economy at large. The Kantianism principle would suggest all MNCs to apply strict child labor standards in all nations across the globe in order to eliminate overexploitation of children (Gupta et.al 301). The method used for acquiring the child labor such as kidnapping and buying children are harmful to the children. It results to health issues, compromising working and living conditions, underpayment, denies adults an opportunity for employment (Gupta et.al 291). The businesses with higher ethical standards have chance for long-term operations even though their income may not be very high. The consumers in host overseas countries expect MNCs to apply higher ethical standards than local companies (Gupta et.al 301) In conclusion, MNCs should set high child labor standards both in home country and overseas host countries to promote corporate social responsibility. The elimination of child labor will increase the productivity of the economy and eliminate exploitation of children. Gupta, Shruti; Pirsch, Julie & Girard, Tulay. An Empirical Examination of Multinational Ethical Dilemma: The Issue of Child Labor. â€Å"A Journal of Global Marketing, 23.† Taylor & Francis Group, LLC, (2010):