5. Show how MARKET CAPITALISM concept that centralizes on the utility of invisible hand can fit well to describe UTILITARIANISM PRINCIPLE. Illustrate HRM example.
If an employer hides the dangerous nature of chemicals used in production from employees, then the employees may not know how to respond safety to a chemical spill. As a result, a chemical spill might harm people other than the employer and employees. This fact, in turn, might be used to justify government regulation designed to correct the externality. This government regulation might take the form of requiring companies to inform employees about the hazards involved in chemicals used in production to train employees in the proper procedures to handle the chemicals including how to handle spills, and to provide employees with appropriate safety equipment.