Ethical Lessons Of The Financial Crisis

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Ethical Lessons of the Financial Crisis

Eileen P. Flynn
Ethical Lessons of the Financial Crisis Book PDF

Author : Eileen P. Flynn
Publisher : Routledge
Page : 298 pages
File Size : 49,9 Mb
Release : 2012-08-21
Category : Business & Economics
ISBN : 9781136343124

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Ethical Lessons of the Financial Crisis by Eileen P. Flynn Pdf

In the aftermath of the economic crisis of 2008 it is important to ask what ethics has to say to the many stakeholders in the U.S. economy. The crisis in the financial industry, precipitated by the bursting of a bubble in the housing sector, brought the U.S. economy to the brink of a major depression. Government officials, economists and financial executives intervened to implement measures to mitigate the damage, applying their expertise and using their best judgments to rescue the economy. The actions they took required technical competence, pragmatic judgments and controversial decisions. They worked through a crisis to try to prevent a very bad situation from becoming a catastrophe. As events played out in the autumn of 2008, there was little time to reflect on how immoral conduct contributed to the crisis and how financial recovery needs to be built on an ethical foundation. The purpose of this book is to examine the role of ethics in setting things right. In taking a close look at the events of 2008 this book makes an important contribution to business ethics.

Business Ethics After the Global Financial Crisis

Christopher Cowton,James Dempsey,Tom Sorell
Business Ethics After the Global Financial Crisis Book PDF

Author : Christopher Cowton,James Dempsey,Tom Sorell
Publisher : Routledge
Page : 286 pages
File Size : 50,7 Mb
Release : 2019-01-31
Category : Business & Economics
ISBN : 9780429825880

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Business Ethics After the Global Financial Crisis by Christopher Cowton,James Dempsey,Tom Sorell Pdf

The global financial crisis (GFC) that began in 2007 concentrated attention on the morality of banking and financial activities. Just as mainstream businesses became increasingly defined by their financial performance, banks, it seemed, got themselves – and everyone else – into trouble through an over-emphasis on themselves as commercial enterprises that need pay little attention to traditional banking virtues or ethics. While the GFC had many causes, criticism was legitimately levelled at banks over the ethics of mortgage creation, excessive securitisation, executive remuneration, and high-pressure customer sales tactics, amongst other things. These criticisms mirror those that have been levelled at the business more generally, particular in the last decade, although the backdrop provided by the GFC is more dramatic, and the outcomes of supposed wrongdoing more severe. This book focuses on business ethics after the GFC; not on the crisis itself, but how we should respond to it. The GFC has focused minds on the proper role of ethics in the understanding and conduct of business activity, but it is essential to look beyond the crisis to address the deeper challenges that it highlights. The aim of this volume is to present examples of the latest philosophically-informed thinking across a range of ethical issues that relate to business activity, using the banks and the GFC – the consequences of which continue to reverberate – as a point of departure. The book will be of great value to researchers, academics, practitioners, and students interested in business, ethics in general, and business ethics in particular.

Lessons from the Global Financial Crisis

Richard Morgan
Lessons from the Global Financial Crisis Book PDF

Author : Richard Morgan
Publisher : Taylor Trade Publications
Page : 111 pages
File Size : 50,9 Mb
Release : 2010-08-16
Category : Business & Economics
ISBN : 9781589795860

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Lessons from the Global Financial Crisis by Richard Morgan Pdf

Adam Smith was an advocate of the free market; however his first and widely-acclaimed work, The Theory of Moral Sentiments, was on ethics. While commentators tend to review this work in isolation from his writing on political economy, Richard Morgan argues that although The Wealth of Nations is concerned with political economy, Smith's pointed attacks on exploitation and greed reflect the ethics outlined in his first work and illuminate the constructive role he proposed for government.

Global Financial Crisis: The Ethical Issues

N. Dobos,C. Barry,T. Pogge
Global Financial Crisis The Ethical Issues Book PDF

Author : N. Dobos,C. Barry,T. Pogge
Publisher : Springer
Page : 172 pages
File Size : 46,6 Mb
Release : 2011-03-04
Category : Philosophy
ISBN : 9780230306950

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Global Financial Crisis: The Ethical Issues by N. Dobos,C. Barry,T. Pogge Pdf

The Global Financial Crisis is acknowledged to be the most severe economic downturn since the 1930s, and one that is unique in its underlying causes, its scope, and its wider social, political and economic implications. This volume explores some of the ethical issues that it has raised.

The Ethics of Banking

Peter Koslowski
The Ethics of Banking Book PDF

Author : Peter Koslowski
Publisher : Springer Science & Business Media
Page : 218 pages
File Size : 55,9 Mb
Release : 2011-04-20
Category : Business & Economics
ISBN : 9789400706569

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The Ethics of Banking by Peter Koslowski Pdf

The Ethics of Banking analyzes the systemic and the ethical mistakes that led to the crisis. It keeps the middle ground between excusing all failures by the argument of a systemic crisis not to be taken responsibility for by the financial managers and the moralistic reproach that only moral failure is at the origin of the crisis. It investigates the role of speculation in the formation of the crisis and distinguishes between productive speculation for hedging and for securing market liquidity on the one hand, and unproductive and even detrimental hyper-speculation going far beyond of the degree of speculation that is necessary in a developed economy for the liquidity of financial markets, on the other hand. Hyper-speculation has increased the risks of the financial system and is still doing so.

Ethics and Economic Governance

Chris Clarke
Ethics and Economic Governance Book PDF

Author : Chris Clarke
Publisher : Routledge
Page : 184 pages
File Size : 40,5 Mb
Release : 2015-10-23
Category : Political Science
ISBN : 9781317367888

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Ethics and Economic Governance by Chris Clarke Pdf

This book seeks to explore the ethical dimensions of economic governance through an engagement with Adam Smith and a critical analysis of economistic understandings of the Global Financial Crisis. It examines ethical and political dilemmas associated with key aspects of the financialisation of Anglo-American economy and society, including systems of asset-based welfare, modern risk management and debt. In the wake of the financial crisis, recognition of the way in which everyday lives and life chances are tied into global finance is widespread. Yet few contributions in IPE explicitly tackle this issue as a question of ethics. By developing Adam Smith’s under-utilised account of how market-oriented behaviour is constituted through a process of ‘sympathy’, this book provides an innovative way of understanding contemporary issues of economic governance and the possibilities and limits for intervention within it. By taking Adam Smith’s moral philosophy seriously, it becomes evident that the ever-deeper enmeshing of finance in our everyday lives is a failed experiment. Turning the common understanding of Smith on its head, we can also turn accepted wisdom about the recent financial crisis on its head and see the urgency of making better known the ethico-political contestation that lies at the heart of financial market relations. It will be of interest to students and scholars of IPE as well as those across the social sciences who wish to question the foundations of contemporary economy and society.

The Global Financial Crisis and Its Aftermath

A. G. Malliaris,Leslie Shaw,Hersh Shefrin
The Global Financial Crisis and Its Aftermath Book PDF

Author : A. G. Malliaris,Leslie Shaw,Hersh Shefrin
Publisher : Oxford University Press
Page : 521 pages
File Size : 46,5 Mb
Release : 2016
Category : Business & Economics
ISBN : 9780199386222

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The Global Financial Crisis and Its Aftermath by A. G. Malliaris,Leslie Shaw,Hersh Shefrin Pdf

... Expert contributors argue that the complexity of the Global Financial Crisis challenges researchers to offer more comprehensive explanations by extending the scope and range of their traditional investigations. To achieve this, the volume views the financial crisis simultaneously through three different lenses--economic, psychological, and social values ... They recognize how current economic analysis did not prepare academic economists, business economists, traders, and regulators to anticipate economic and financial crises ...

Lessons from the Financial Crisis

Rob Quail
Lessons from the Financial Crisis Book PDF

Author : Rob Quail
Publisher : John Wiley & Sons
Page : 708 pages
File Size : 52,9 Mb
Release : 2010-06-08
Category : Business & Economics
ISBN : 9780470561775

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Lessons from the Financial Crisis by Rob Quail Pdf

The world's best financial minds help us understand today's financial crisis With so much information saturating the market for the everyday investor, trying to understand why the economic crisis happened and what needs to be done to fix it can be daunting. There is a real need, and demand, from both investors and the financial community to obtain answers as to what really happened and why. Lessons from the Financial Crisis brings together the leading minds in the worlds of finance and academia to dissect the crisis. Divided into three comprehensive sections-The Subprime Crisis; The Global Financial Crisis; and Law, Regulation, the Financial Crisis, and The Future-this book puts the events that have transpired in perspective, and offers valuable insights into what we must do to avoid future missteps. Each section is comprised of chapters written by experienced contributors, each with his or her own point of view, research, and conclusions Examines the market collapse in detail and explores safeguards to stop future crises Encompasses the most up-to-date analysis from today's leading financial minds We currently face a serious economic crisis, but in understanding it, we can overcome the challenges it presents. This well-rounded resource offers the best chance to get through the current situation and learn from our mistakes.

Ethical Lessons of the Financial Crisis

Eileen P. Flynn
Ethical Lessons of the Financial Crisis Book PDF

Author : Eileen P. Flynn
Publisher : Routledge
Page : 298 pages
File Size : 55,5 Mb
Release : 2012
Category : Business & Economics
ISBN : 9780415516747

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Ethical Lessons of the Financial Crisis by Eileen P. Flynn Pdf

In the aftermath of the economic crisis of 2008 it is important to ask what ethics has to say to the many stakeholders in the U.S. economy. The crisis in the financial industry, precipitated by the bursting of a bubble in the housing sector, brought the U.S. economy to the brink of a major depression. Government officials, economists and financial executives intervened to implement measures to mitigate the damage, applying their expertise and using their best judgments to rescue the economy. The actions they took required technical competence, pragmatic judgments and controversial decisions. They worked through a crisis to try to prevent a very bad situation from becoming a catastrophe. As events played out in the autumn of 2008, there was little time to reflect on how immoral conduct contributed to the crisis and how financial recovery needs to be built on an ethical foundation. The purpose of this book is to examine the role of ethics in setting things right. In taking a close look at the events of 2008 this book makes an important contribution to business ethics.

The Oxford Handbook of Professional Economic Ethics

George F. DeMartino,Deirdre N. McCloskey
The Oxford Handbook of Professional Economic Ethics Book PDF

Author : George F. DeMartino,Deirdre N. McCloskey
Publisher : Oxford University Press
Page : 688 pages
File Size : 47,7 Mb
Release : 2016-01-04
Category : Philosophy
ISBN : 9780190269975

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The Oxford Handbook of Professional Economic Ethics by George F. DeMartino,Deirdre N. McCloskey Pdf

For over a century the economics profession has extended its reach to encompass policy formation and institutional design while largely ignoring the ethical challenges that attend the profession's influence over the lives of others. Economists have proven to be disinterested in ethics. Embracing emotivism, they often treat ethics a matter of mere preference. Moreover, economists tend to be hostile to professional economic ethics, which they incorrectly equate with a code of conduct that would be at best ineffectual and at worst disruptive to good economic practice. But good ethical reasoning is not reducible to mere tastes, and professional ethics is not reducible to a code. Instead, professional economic ethics refers to a new field of investigation-a tradition of sustained and lively inquiry into the irrepressible ethical entailments of academic and applied economic practice. The Oxford Handbook of Professional Economic Ethics explores a wide range of questions related to the nature of ethical economic practice and the content of professional economic ethics. It explores current thinking that has emerged in these areas while widening substantially the terrain of economic ethics. There has never been a volume that poses so directly and intensively the question of the need for and content of professional ethics for economics. The Handbook incorporates the work of leading scholars and practitioners, including academic economists from various theoretical traditions; applied economists, beyond academia, whose work has direct and immense social impact; and philosophers, professional ethicists, and others whose work has addressed the nature of "professionalism" and its implications for ethical practice.

Ethics and the Global Financial Crisis

Boudewijn de Bruin
Ethics and the Global Financial Crisis Book PDF

Author : Boudewijn de Bruin
Publisher : Unknown
Page : 128 pages
File Size : 40,6 Mb
Release : 2014
Category : Business ethics
ISBN : 131620376X

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Ethics and the Global Financial Crisis by Boudewijn de Bruin Pdf

"Professor De Bruin has written an important book. For all of the thousands of pages written on the recent global financial crisis, there is very little solid ethical analysis of the underlying causes and concepts. He makes a critical distinction between the motivation of financial actors and their competence, then argues that most of the analysis of the crisis has been about motivation. In particular many have called into question the very idea of capitalism as seeking to maximize profits for shareholders. While DeBruin admits that motivation is an important idea, he traces much of the difficulty to incompetence on the part of multiple stakeholders, who have no real motivation to learn about how the basic ideas in finance actually work"--

Lessons from the Financial Crisis

Rob Quail
Lessons from the Financial Crisis Book PDF

Author : Rob Quail
Publisher : John Wiley & Sons
Page : 708 pages
File Size : 40,8 Mb
Release : 2010-09-09
Category : Business & Economics
ISBN : 9780470622414

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Lessons from the Financial Crisis by Rob Quail Pdf

The world's best financial minds help us understand today's financial crisis With so much information saturating the market for the everyday investor, trying to understand why the economic crisis happened and what needs to be done to fix it can be daunting. There is a real need, and demand, from both investors and the financial community to obtain answers as to what really happened and why. Lessons from the Financial Crisis brings together the leading minds in the worlds of finance and academia to dissect the crisis. Divided into three comprehensive sections-The Subprime Crisis; The Global Financial Crisis; and Law, Regulation, the Financial Crisis, and The Future-this book puts the events that have transpired in perspective, and offers valuable insights into what we must do to avoid future missteps. Each section is comprised of chapters written by experienced contributors, each with his or her own point of view, research, and conclusions Examines the market collapse in detail and explores safeguards to stop future crises Encompasses the most up-to-date analysis from today's leading financial minds We currently face a serious economic crisis, but in understanding it, we can overcome the challenges it presents. This well-rounded resource offers the best chance to get through the current situation and learn from our mistakes.

Wall Street Values

Michael A. Santoro,Ronald J. Strauss
Wall Street Values Book PDF

Author : Michael A. Santoro,Ronald J. Strauss
Publisher : Unknown
Page : 250 pages
File Size : 49,5 Mb
Release : 2013
Category : Business ethics
ISBN : 1139625276

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Wall Street Values by Michael A. Santoro,Ronald J. Strauss Pdf

This timely book answers complex and perplexing questions raised by Wall Street's role in the financial crisis. What are the economic and moral connections between Wall Street and the overall economy? How did we arrive at this point in history where our most powerful financial institutions thwart rather than promote free markets, prosperity, and even social cohesion? Can the fractured relationship between Wall Street and Main Street be repaired? Wall Street Values chronicles the transformation of Wall Street's business model from serving clients to proprietary trading and explains how this shift undermined the ethical foundations of the modern financial industry. Michael A. Santoro and Ronald J. Strauss argue that post-millennial Wall Street is not only too big to fail but also a threat to the economy even when it succeeds. They describe how, more than a year before the government acknowledged the financial crisis, Wall Street icon Goldman Sachs saved itself by misleading its clients and impeding the information flow needed for the efficient functioning of free markets, thereby prolonging the mortgage bubble and adding to the financial and human cost of the crisis. They also present a nuanced critique of the government's role not only for the economic miscalculations leading to financial deregulation but also for failing to check the irrational exuberance of 2007 and 2008. Looking to the future, Santoro and Strauss make a compelling case for vigorous government enforcement of the Dodd-Frank Act in the face of Wall Street's opposition. They also argue, however, that effective government regulation is not enough; economic prosperity will be sustainable only if Wall Street professionals themselves begin an urgently needed conversation about their values and business ethics.

Reframing Corporate Social Responsibility

William Sun,Jim Stewart,David Pollard
Reframing Corporate Social Responsibility Book PDF

Author : William Sun,Jim Stewart,David Pollard
Publisher : Emerald Group Publishing
Page : 321 pages
File Size : 51,6 Mb
Release : 2010-12-13
Category : Business & Economics
ISBN : 9780857244567

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Reframing Corporate Social Responsibility by William Sun,Jim Stewart,David Pollard Pdf

This collection brings together leading scholarly thinking to understand why CSR failed to prevent the global financial crisis, how corporate social irresponsibility (CSI) contributed to the financial crisis, and how we may reframe CSR or improve CSR frameworks to help prevent or mitigate any future financial and economic crises.

The End of Ethics and A Way Back

Theodore Roosevelt Malloch,Jordan D. Mamorsky
The End of Ethics and A Way Back Book PDF

Author : Theodore Roosevelt Malloch,Jordan D. Mamorsky
Publisher : John Wiley & Sons
Page : 248 pages
File Size : 46,5 Mb
Release : 2013-02-22
Category : Business & Economics
ISBN : 9781118550274

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The End of Ethics and A Way Back by Theodore Roosevelt Malloch,Jordan D. Mamorsky Pdf

Bestselling author and professor Ted Malloch calls for real financial reform to restore confidence and fairness to a broken system From Ponzi schemes to the credit crisis to the real estate bubble, the financial industry seems to have lost its way on the road to riches. As private greed continues to undermine the public good, one might wonder what ever happened to business ethics. And how can we reform the global financial system to benefit everyone, rather than just the very lucky few? In The End of Ethics and the Way Back, the bestselling author of Doing Virtuous Business teams up with attorney and Yale University Postdoctoral Fellow, Jordan Mamorsky to examine the most recent failures of business virtue, prudence, and governance—from Bernie Madoff to Jon Corzine and MF Global—before offering a set of structural and holistic solutions for our current ethical crisis in global finance. Features compelling case studies that reveal the saturation of economic vice in global finance Suggests structural reforms to the global financial system that would increase confidence among consumers and encourage ethical behavior among finance professionals Written by Ted Malloch, author of the bestseller Doing Virtuous Business with attorney Jordan Mamorsky Ideal for financial regulators, business students and academics, and professionals in the finance industry