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  1. Ethical Commitments and Credit Market Regulations.Saad Azmat & Hira Ghaffar - forthcoming - Journal of Business Ethics:1-13.
    In this paper we examine some of the economic and ethical consequences of different credit market regulations, including usury laws, complete prohibition of interest and providing ease to the borrower upon default. The references to these credit market regulations can be found in many religious and moral philosophy texts. We first examine the effectiveness of these regulations in deterring exploitative lending by developing a model that shows lending can be regulated through either act-based or harm-based regulations. We show that act-based (...)
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  2. How Should Responsible Investors Behave? Keynes’s Distinction Between Entrepreneurship and Speculation Revisited.Christian Hecker - forthcoming - Journal of Business Ethics:1-15.
    This paper deals with Keynes’s distinction between entrepreneurship and speculation, regarding business people in general and especially investors’ behaviour. Based on Keynes’s thoughts about financial markets, it analyses how different motivations influence the decision-making process of investors and its consequences for stock markets and the real economy and clarifies that Keynes’s considerations are still useful for understanding contemporary developments and risks in the financial system. Furthermore, it points out that Keynes’s theories and policy recommendations should be understood in the context (...)
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  3. You Can Bluff but You Should Not Spoof.Gil Hersch - 2020 - Business and Professional Ethics Journal 39 (2):207-224.
    Spoofing is the act of placing orders to buy or sell a financial contract without the intention to have those orders fulfilled in order to create the impression that there is a large demand for that contract at that price. In this article, I deny the view that spoofing in financial markets should be viewed as morally permissible analogously to the way bluffing is permissible in poker. I argue for the pro tanto moral impermissibility of spoofing and make the case (...)
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  4. The Moral Crisis: The Responsibility of Managers of Financial Institutions and the Argument From Inevitability.Ramiro Ávila Peres - 2020 - In Everton Maciel (ed.), Política Prática. Macapá, AP, Brasil: pp. 287-308.
    This paper argues, through conceptual analysis, against an objection to the disapproval of banks for the 2007-8 crisis: the idea that they could not have acted otherwise (at least not rationally) and that no one should be blamed for a fact one could not have avoided. If true, it would threaten the justification of corporate social responsibility and the legal liability of managers. Identified as the ‘inevitability thesis’, this objection is illustrated by an analysis of the film Margin Call (2011) (...)
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  5. Review of Give People Money: How a Basic Income Would End Poverty, Revolutionize Work, and Remake the World by Annie Lowrey: Crown, 2018, 272 Pp., ISBN: 978-1524758769. [REVIEW]Matt Zwolinski - 2020 - Journal of Business Ethics 162 (1):247-249.
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  6. Banking Liquidity as a Leading Approach to Risk Management.Stanislav Arzevitin, Igor Britchenko & Anatoly Kosov - 2019 - Atlantis Press 318 (Advances in Social Science, Educ):149-157.
    For the modern model of the market there are inherent existence of both a set of possibilities and a large number of hazards that are waiting for economic agents and which are generated by the need to make decisions in the conditions of considerable uncertainty about the future. Liquidity risk is one of the central places in the system of bank risks, is closely related to solvency and financial stability, and therefore its management is an extremely important element of financial (...)
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  7. Central Banks as Leaders in Ensuring Financial Stability.Viktoriia Biloshapka, Igor Britchenko & Iryna Okhrymenko - 2019 - Atlantis Press 318:173-181.
    The paper deals with the basic concepts and key problems of creating financial stability, as well as the role of central banks in its provision. The role of central banks in providing financial stability is extremely important and has a double manifestation - is the maintenance of the stability of the national currency and the responsibility for the stability of commercial banks and the banking system. The central element of any financial system is always banks, so the emergence of systemic (...)
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  8. Investing and Intentions in Financial Markets.Carl David Mildenberger - 2019 - European Journal of Analytic Philosophy 15 (1):71-94.
    Ethical investors are widely thought of as having two main goals. The negative goal of avoiding their investments to be morally tainted. The positive goal to further a certain ethical value they embrace or some normatively laden idea they hold by investing their money in a certain company. In light of these goals, the purpose of this paper is to provide an account of how we can explicitly include investors’ intentions when conceiving of ethical investment. The central idea is that (...)
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  9. Uncertainty, ‘Irrational Exuberance’ and the Psychology of Bubbles: An Argument Over the Legitimacy of Financial Regulation for Bounded Rational Agents.Ramiro Ávila Peres - 2019
    One of the explanations for the Great Crisis of 2007-2008 was that financial authorities should have issued stricter regulations to prevent the housing bubble. However, according to Alan Greenspan, President of the Federal Reserve System (FED) from 1987 to 2006, this is to judge with hindsight. No one can guess when a “bubble” begins, nor when it ends; they happen because of the “irrational exuberance” in investors’ behavior, which causes boom and bust cycles. Regulators are not in a better situation (...)
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  10. Modern Portfolio Theory and Shareholder Primacy.Kenneth Silver - 2019 - Business Ethics Journal Review 7 (6):34-39.
    Shareholders assume risk by investing. Sollars and Tuluca (2018) argue that while this does not justify a managerial policy of shareholder wealth maximization, it does justify compensating shareholders at the oftencalculated cost of equity—the cost that investors require given the level of risk they assume. Here, I show that this can be unfair if the cost of equity is unfair. I then show how shareholder wealth maximization as a managerial imperative is better justified on other grounds.
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  11. What’s Wrong With Ponzi Schemes? Trust and Its Exploitation in Financial Investment.Ben Almassi - 2018 - International Journal of Applied Philosophy 32 (1):111-126.
    The role of trust in financial investment has been a matter of some contention, one often obscured by two misconceptions: that financial relationships are fit only for wary predictive reliance where trust has no rational basis, and that in those relationships where trust is operative it must be worth preserving. Following Baier’s contention that trust, like air, is more easily seen when polluted, here I consider Ponzi schemes as exemplars of corrupt and polluted trust. Without attending to the role of (...)
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  12. Assessment of the Determinants of the Financial Security of Railways in Ukraine.Igor Britchenko, N. I. Bohomolova, S. S. Pinchuk & O. O. Kravchenko - 2018 - Financial and Credit Activity: Problems of Theory and Practice 4 (27):270-282.
    The paper is devoted to the study of determinants determined the level of financial security of economic systems. It is shown that the financial security of an economic system implies the achievement of a level of financial stability that will contribute to simultaneously maintaining financial equilibrium and ensuring targeted growth in line with the development strategy. The level of financial security of rail transport in Ukraine was analyzed and it was determined that the decline in its security was the result (...)
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  13. State Regulation of the National Currency Exchange Rate by Gold and Foreign Currency Reserve Management.Igor Britchenko & Vlasenko Evhenii - 2018 - Wydawnictwo Państwowej Wyższej Szkoły Zawodowej im. prof. Stanisława Tarnowskiego w Tarnobrzegu.
    Status of the national currency of Ukraine exchange rate has been characterized as unstable in recent years. Herewith, the Government has not implemented decisive measures on its stabilization, as a rule, underestimating the importance of the Hryvnia exchange rate stability for the successful economic growth in terms of socio-economic transformations. It should also be noted that in modern conditions among scientific and methodical approaches to the State exchange rate formation mechanisms some uncertainty regarding basic and additional tools for such regulatory (...)
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  14. Assessment of the Determinants of the Financial Security of Railways in Ukraine.Igor Britchenko, Bohomolova Nadia, Kravchenko Olga & Pinchuk Svitlana - 2018 - Financial and Credit Activity: Problems of Theory and Practice 4 (27):270-282.
    he paper is devoted to the study of determinants determined the level of financial security of economic systems. It is shown that the financial security of an economic system implies the achievement of a level of financial stability that will contribute to simultaneously maintaining financial equilibrium and ensuring targeted growth in line with the development strategy. The level of financial security of rail transport in Ukraine was analyzed and it was determined that the decline in its security was the result (...)
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  15. Gender Biases in Bank Lending: Lessons From Microcredit in France.Anastasia Cozarenco & Ariane Szafarz - 2018 - Journal of Business Ethics 147 (3):631-650.
    The evidence on gender discrimination in lending remains controversial. To capture gender biases in banks’ loan allocations, we observe the impact on the applicants of a microfinance institution and exploit the natural experiment of a regulatory change imposing a strict EUR 10,000 loan ceiling on microcredit. Descriptive statistics indicate that the presence of the ceiling is associated both with bank-MFI co-financing and with harsher treatment of female borrowers. To investigate causal links, we develop an econometric approach that addresses the concerns (...)
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  16. Mind the Gap: Virtue Ethics and the Financial Crisis.Catherine Greene - 2018 - Midwest Studies in Philosophy 42 (1):174-190.
    The financial crisis has led to calls for increased regulation of the financial sector. In many respects this is uncontroversial because increased regulation should promote the behaviours we want to see, while limiting the behaviours we do not. This article takes issue with the idea that regulation, and guidelines, promote ethical behaviour in the way that we want them to. Firstly, judgement is often required to implement guidelines and regulations, which allows room for unethical behaviour. Secondly, we want financial professionals (...)
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  17. Blaming Ourselves.Mark Hannam - 2018 - Midwest Studies in Philosophy 42 (1):213-228.
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  18. The Irrelevance of Unsuccessful Traders.Gil Hersch - 2018 - Business Ethics Journal Review 6 (8):41-46.
    Alasdair MacIntyre argues that moral virtues are antithetical to what is required of those who trade in financial markets to succeed. MacIntyre focuses on four virtues and argues that successful traders possess none of them: (i) self-knowledge, (ii) courage, (iii) taking a long-term perspective, and (iv) tying one’s own good with some set of common goods. By contrast, I argue that (i)–(iii) are, in fact, traits of successful traders, regardless of their normative assessment. The last trait – caring about the (...)
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  19. Reputation Risks, Value of Losses and Financial Sustainability of Commercial Banks.Natalia Kunitsyna, Igor Britchenko & Igor Kunitsyn - 2018 - Entrepreneurship and Sustainability Issues 5 (4):943-955.
    Currently, under the conditions of permanent financial risks that hamper the sustainable economic growth in the financial sector, the development of evaluation and risk management methods both regulated by Basel II and III and others seem to be of special importance. The reputation risk is one of significant risks affecting reliability and credibility of commercial banks. The importance of reputation risk management and the quality of their assessment remain relevant as the probability of decrease in or loss of business reputation (...)
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  20. The Philosophical and Normative Foundations of Corporate Governance Models.Idan Shimony & Yekutiel Shoham - 2018 - Proceedings of the XXIII World Congress of Philosophy.
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  21. Disentangling the Epistemic Failings of the 2008 Financial Crisis.Lisa Warenski - 2018 - In David Coady & James Chase (eds.), The Routledge Handbook of Applied Epistemology. Routledge. pp. 196-210.
    I argue that epistemic failings are a significant and underappreciated moral hazard in the financial services industry. I argue further that an analysis of these epistemic failings and their means of redress is best developed by identifying policies and procedures that are likely to facilitate good judgment. These policies and procedures are “best epistemic practices.” I explain how best epistemic practices support good reasoning, thereby facilitating accurate judgments about risk and reward. Failures to promote and adhere to best epistemic practices (...)
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  22. Leading Innovations and Investments Into the New Energy Technologies.Anetta Zielińska, Igor Britchenko & Piotr Jarosz - 2018 - Advances in Social Science, Education and Humanities Research. – Atlantis Press: Proceedings of the 2nd International Conference on Social, Economic and Academic Leadership (ICSEAL 2018) 217:320-324.
    This paper focuses on the novel and leading innovations and investments into the new energy technologies. Energy issues, including sustainability, energy security and energy dependency are probably one of the most crucial and critical issues that humanity must face at the moment. Recent global challenges, such as climate change and the rise of the “green” energy (represented by the increasing deployment of the renewable energy sources (RES)), as well as distributed energy generation and platform energy markets (e.g. peer-to-peer (P2P) markets (...)
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  23. Towards a Philosophy of Financial Technologies.Mark Coeckelbergh, Quinn DuPont & Wessel Reijers - 2017 - Philosophy and Technology:1-6.
    This special issue introduces the study of financial technologies and finance to the field of philosophy of technology, bringing together two different fields that have not traditionally been in dialogue. The included articles are: Digital Art as ‘Monetised Graphics’: Enforcing Intellectual Property on the Blockchain, by Martin Zeilinger; Fundamentals of Algorithmic Markets: Liquidity, Contingency, and the Incomputability of Exchange, by Laura Lotti; ‘Crises of Modernity’ Discourses and the Rise of Financial Technologies in a Contested Mechanized World, by Marinus Ossewaarde; Two (...)
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  24. 'Information as a Condition of Justice in Financial Markets: The Regulation of Credit-Rating Agencies.Boudewijn De Bruin - 2017 - In Lisa Maria Herzog (ed.), Just Financial Markets? Finance in a Just Society. Oxford: Oxford University Press. pp. 250-270.
    This chapter argues for deregulation of the credit-rating market. Credit-rating agencies are supposed to contribute to the informational needs of investors trading bonds. They provide ratings of debt issued by corporations and governments, as well as of structured debt instruments (e.g. mortgage-backed securities). As many academics, regulators, and commentators have pointed out, the ratings of structured instruments turned out to be highly inaccurate, and, as a result, they have argued for tighter regulation of the industry. This chapter shows, however, that (...)
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  25. The Improvement of the Bank Infrastructure of Ukraine.Paweł Maciaszczyk, Viktoria Stoika & Igor Britchenko - 2017 - Proceeding of the International Conference on Marketing, Management, Trade, Financial and Social Aspects of Business (MTS 2017) 217:6.
    The article is devoted to the prospects of creation and functioning of cooperative banks and development banks in Ukraine. The article deals with the peculiarities of cooperative banks and development banks. Sci-entists analyzed the views on the activities of banks and their impact on economic development. The article deals with the peculiarities of development and operation of the cooperative banks of developed countries: Germany and Poland. A three-tier model of national cooperative bank system has been suggested. The influences of developments (...)
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  26. Ethical Issues for Autonomous Trading Agents.Michael P. Wellman & Uday Rajan - 2017 - Minds and Machines 27 (4):609-624.
    The rapid advancement of algorithmic trading has demonstrated the success of AI automation, as well as gaps in our understanding of the implications of this technology proliferation. We explore ethical issues in the context of autonomous trading agents, both to address problems in this domain and as a case study for regulating autonomous agents more generally. We argue that increasingly competent trading agents will be capable of initiative at wider levels, necessitating clarification of ethical and legal boundaries, and corresponding development (...)
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  27. 2008 Financial Crisis and Islamic Finance: An Unrealized Opportunity.Fahad Al-Zumai & Mohammed Al-Wasmi - 2016 - International Journal for the Semiotics of Law - Revue Internationale de Sémiotique Juridique 29 (2):455-472.
    The Islamic finance industry is relatively new and vibrant. It is becoming a mainstream industry in the MENA. The industry is based on a number of Sharia’a maxims and in particular the prohibition of Riba. Islamic law scholars’ emphasis on the ethical dimension of this industry and how it can be seen as a solution to existing capitalism. The current financial crisis presented this industry with an unprecedented test and an opportunity to influence and merge into main stream finance. This (...)
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  28. Securities Lending Activities in Mutual Funds and ETFs: Ethical Considerations.Lee M. Dunham, Randy Jorgensen & Ken Washer - 2016 - Journal of Business Ethics 139 (1):21-28.
    Securities lending has been a lucrative business for mutual funds and exchange-traded funds over the past decade. Unfortunately for investors, the sponsors of these funds have not been very transparent with the details of their securities lending programs, and consequently most investors in these funds are unaware of their exposure to the risks inherent in securities lending. Interestingly, most funds do not return the full profits from securities lending activities to their investors. In this paper, we examine and discuss the (...)
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  29. Profit in Ignorance. [REVIEW]Mark Hannam - 2016 - Times Literary Supplement 5898.
    A review of Boudewijn de Bruin's book, "Ethics and the Global Financial Crisis - Why incompetence is worse than greed".
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  30. A Crise Moral: a responsabilidade de administradores de instituições financeiras e o argumento da inevitabilidade.Ramiro Ávila Peres - 2016 - Revista da Procuradoria-Geral Do Banco Central 10 (2):15-36.
    This essay argues, through conceptual analysis, against an objection to reproaches addressed to financiers after the Crisis of 2007-8: the idea that they could not have acted otherwise (at least, not rationally) and that no one should be blamed for a fact one could not have avoided. If correct, this would threaten the justifiability of corporate social responsibility and legal responsibility of directors. Identified as the “thesis of inevitability”, this objection is illustrated by an analysis of the film Margin Call (...)
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  31. An Urban Carnival on the City Walls: The Visual Representation of Financial Power in European Street Art.Andrea Baldini - 2015 - Journal of Visual Culture 14 (2):246-252.
    By discussing a selection of socially engaged street artworks from the Frankfurt-based project ‘Under Art Construction’, this essay sheds light on street art’s possibilities as a form of resistance against the power of globalizing finance. The author argues that through the use of carnivalesque strategies of irony and appropriation, street art can challenge the pretense of rationality of recent policies of austerity in the eurozone. Such a challenge exposes the contingency of spending cut programs. He finally suggests that, in debunking (...)
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  32. Ethical Reporting in Islami Bank Bangladesh Limited.Ataur Rahman Belal, Omneya Abdelsalam & Sardar Sadek Nizamee - 2015 - Journal of Business Ethics 129 (4):769-784.
    The main aim of this study is to undertake a critical examination of the ethical and developmental performance of an Islamic bank as communicated in its annual reports over a period of 28 years. Islami Bank Bangladesh Limited’s ethical performance and disclosures are further analyzed through interviews conducted with the bank’s senior management. The key findings include an overall increase in ethical disclosures during the study period. However, the focus on various stakeholders’ needs has varied over time reflecting the evolving (...)
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  33. Capital Failure: Rebuilding Trust in Financial Services, Ed. Nicholas Morris and David Vines. Oxford: Oxford University Press, 2014. 329 Pp. ISBN: 978-0-19-871222-0. [REVIEW]Marc A. Cohen - 2015 - Business Ethics Quarterly 25 (3):405-409.
  34. Ghoshal’s Ghost: Financialization and the End of Management Theory.Gregory A. Daneke & Alexander Sager - 2015 - Philosophy of Management 14 (1):29-45.
    Sumantra Ghoshal’s condemnation of “bad management theories” that were “destroying good management practices” has not lost any of its salience, after a decade. Management theories anchored in agency theory (and neo-classical economics generally) continue to abet the financialization of society and undermine the functioning of business. An alternative approach (drawn from a more classic institutional, new ecological, and refocused ethical approaches) is reviewed.
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  35. Ethics and the Global Financial Crisis: Why Incompetence is Worse Than Greed.Boudewijn de Bruin - 2015 - Cambridge University Press.
    In this topical book, Boudewijn de Bruin examines the ethical 'blind spots' that lay at the heart of the global financial crisis. He argues that the most important moral problem in finance is not the 'greed is good' culture, but rather the epistemic shortcomings of bankers, clients, rating agencies and regulators. Drawing on insights from economics, psychology and philosophy, de Bruin develops a novel theory of epistemic virtue and applies it to racist and sexist lending practices, subprime mortgages, CEO hubris, (...)
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  36. The UK Islamic Finance Taxation Framework and the Substance V Form Debate in Islamic Finance.Tareq Moqbel - 2015 - Legal Ethics 18 (1):84-86.
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  37. Imprudence and Immorality: A Kantian Approach to the Ethics of Financial Risk.Tobey K. Scharding - 2015 - Business Ethics Quarterly 25 (2):243-265.
    This paper takes up recent challenges to consequentialist forms of ethically evaluating risks and explores how a non-consequentialist form of deliberation, Kantian ethics, can address questions about risk. I examine two cases concerning ethically- questionable financial risks: investing in abstruse financial instruments and investing while relying on a bailout. After challenging consequentialist evaluations of these cases, I use Kant’s distinction between morals and prudence to evaluate when the investments are immoral and when they are merely imprudent. I argue that the (...)
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  38. Financial Performance Of Axis Bank And Kotak Mahindra Bank In The Post Reform Era: Analysis On CAMEL Model.Kishore Meghani, Deepti Tripathi & Swati Mahajan - 2014 - IJBEMR 1 (2):108-141.
    The objective of this study is to Analyze the Financial Position and Performance of the Axis and Kotak Mahindra Bank in India based on their financial characteristics. We have chosen the CAMEL model and t-test which measures the performance of bank from each of the important parameter like capital adequacy, asset quality, management efficiency, earning quality, liquidity and Sensitivity. The present study is conducted analyze the consistency of the profitability of the Axis and Kotak Mahindra bank’s. It is analyses that (...)
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  39. Disinterested Money: Islamic Banking, Monti di Pietà, and the Possibility of Moral Finance.Scott Bader-Saye - 2013 - Journal of the Society of Christian Ethics 33 (1):119-138.
    The current economic crisis arose in large part from financial activities in which capital was practically and logically alienated from real economy. This essay examines the exploitative logic of modern finance while considering two alternative models—microfinance and Islamic banking. These models will be considered against the backdrop of medieval arguments over usury, notably the debates between Franciscans and Dominicans surrounding the lending institutions known as monti di pietà. While noting that either model is decidedly preferable to current normative banking practices, (...)
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  40. Ethics, Finance, and Automation: A Preliminary Survey of Problems in High Frequency Trading. [REVIEW]Michael Davis, Andrew Kumiega & Ben Van Vliet - 2013 - Science and Engineering Ethics 19 (3):851-874.
    All of finance is now automated, most notably high frequency trading. This paper examines the ethical implications of this fact. As automation is an interdisciplinary endeavor, we argue that the interfaces between the respective disciplines can lead to conflicting ethical perspectives; we also argue that existing disciplinary standards do not pay enough attention to the ethical problems automation generates. Conflicting perspectives undermine the protection those who rely on trading should have. Ethics in finance can be expanded to include organizational and (...)
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  41. Motives and Markets in Health Care.Daniel Hausman - 2013 - Journal of Practical Ethics 1 (2):64-84.
    The truth about health care policy lies between two exaggerated views: a market view in which individuals purchase their own health care from profit maximizing health-care firms and a control view in which costs are controlled by regulations limiting which treatments health insurance will pay for. This essay suggests a way to avoid on the one hand the suffering, unfairness, and abandonment of solidarity entailed by the market view and, on the other hand, to diminish the inflexibility and inefficiency of (...)
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  42. Ethics and Finance: An Introduction.John Hendry - 2013 - Cambridge University Press.
    Ethics and Finance: An Introduction provides a comprehensive and accessible introduction to the ethical issues raised by modern finance. Drawing carefully on ethical theory and with frequent use of case studies, it includes an analysis of the global financial system and its regulation and control, as well as a detailed analysis of the financial crisis. Chapters on specific areas of finance practice cover all the major financial scandals of recent times, from mis-selling to market manipulation and from insider trading to (...)
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  43. Usury.Joakim Sandberg - 2013 - In Hugh LaFollette (ed.), The International Encyclopedia of Ethics. Wiley-Blackwell.
    Usury originally and simply meant the practice of charging interest on loans. This practice was forcefully condemned and generally banned in both Ancient and Medieval times. Indeed, prohibitions against interest can be found in the traditions of all the major religions: Hinduism, Buddhism, Judaism, Islam, and Christianity – compare, for instance, the commandments of the Hindu lawmaker Vasishtha, and the biblical story of how Jesus cast the moneylenders out of the temple (Matthew 21:12). As interest started to become socially acceptable, (...)
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  44. Three Ethical Roots of the Economic Crisis.Thomas Donaldson - 2012 - Journal of Business Ethics 106 (1):5-8.
    On Sept 15, 2008, ‘‘Dark Monday,’’ the world witnessed a radical reshaping of Wall Street. Lehman Brothers fell toward bankruptcy; Merrill Lynch was sold to its rival, Bank of America; and AIG pleaded for $40 billion in government relief. Those calamities marched in step with a dismal parade including the US government takeover of Fannie Mae and Freddie Mac, the bailout of Bear Stearns, and the entire subprime debacle. We rightly blame Wall Street leaders for bungling business decisions, for misestimating (...)
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  45. Exploring Antecedents of Attitude and Intention Toward Internet Piracy Among College Students in South Korea.Hyoungkoo Khang, Eyun-Jung Ki, In-Kon Park & Seon-Gi Baek - 2012 - Asian Journal of Business Ethics 1 (2):177 - 194.
    Abstracts This study aims to examine the predictors of attitude and intentions toward Internet piracy in South Korea. Also, it intends to suggest a model of Internet piracy demonstrating the casual effects of factors of individual attitude and intentions toward Internet piracy. The results demonstrated that moral obligations and subjective norms are significant predictors of an individual’s attitude toward Internet piracy. Moreover, three factors—moral obligation, perceived behavioral control, and attitude—are essential antecedents of an individual’s intention to engage in Internet piracy. (...)
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  46. Post-Credit Crisis: What New Concepts Are Needed? Which Old Notions or Practices Should Be Abandoned? [REVIEW]Daryl Koehn - 2012 - Asian Journal of Business Ethics 1 (1):35-45.
    The recent financial meltdown in the US mortgage markets and the ongoing budgetary crises in Europe suggest that we are at an economic and ethical crossroads. What has caused the problems? Do we need to rethink in some fundamental way our ethical notions and some of our practices? These questions clearly are not separable, for, as I shall argue, some of our ideas about corporate responsibilities, technological innovations, and nation states’ ability to regulate corporations have been a cause of the (...)
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  47. Making Social Capital Produce for Society: On the US Financial Crisis and Capital Credit. [REVIEW]Xiaohe Lu - 2012 - Asian Journal of Business Ethics 1 (1):15-34.
    The global financial crisis, triggered by the subprime mortgage crisis in the USA, raises an important issue—namely, private production without the control of private property. The credit system has concentrated increasingly large social assets into the hands of financial institutions governed by a few people. This paper argues that the use of social capital for private production has played a key role in causing the subprime mortgage crisis. The credit and banking systems have abolished the private nature of capital and (...)
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  48. Fundamentals of Order Ethics: Law, Business Ethics and the Financial Crisis.Christoph Luetge - 2012 - Archiv für Rechts- Und Sozialphilosophie Beihefte 130:11-21.
    During the current financial crisis, the need for an alternative to a laissez-faire ethics of capitalism (the Milton Friedman view) becomes clear. I argue that we need an order ethics which employs economics as a key theoretical resource and which focuses on institutions for implementing moral norms. -/- I will point to some aspects of order ethics which highlight the importance of rules, e.g. global rules for the financial markets. In this regard, order ethics (“Ordnungsethik”) is the complement of the (...)
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  49. Global Business Ethical Perspectives on Capitalism, Finance and Corporate Responsibility: The Impact of the Global Financial Crisis of 2008. [REVIEW]G. J. Rossouw - 2012 - Asian Journal of Business Ethics 1 (1):63-72.
    A global survey of Business Ethics as a field of teaching and research was launched in the second half of 2008. The launch of this survey coincided with the global financial meltdown that was triggered by the subprime crisis in the USA. As part of the global survey of Business Ethics, respondents from nine world regions were requested to provide information on the current focus of research in the field of Business Ethics in their respective countries. They were also asked (...)
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  50. An Ethical Analysis of Economic Issues Related to the Appreciation of Renminbi.Wei Yang & Kit-Chun Joanna Lam - 2012 - Asian Journal of Business Ethics 1 (1):79-87.
    Since the outbreak of the global financial crisis in 2008, the exchange rate between China and USA has drawn a lot of attention. Because of the balance of payments surplus, China has accumulated a large amount of foreign exchange reserves, and there is much pressure on the Renminbi (RMB) to appreciate. The appreciation of RMB has raised a series of intertwining economic and ethical concerns in China. This paper is an inter-disciplinary study to illustrate the inter-relationship between economics and ethics. (...)
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