The image of banks has deteriorated. They urgently need to improve their image and regain people’s trust. It will be good for them and society. It’s true that some banks were more responsible than others for the tarnished ethical reputation most people now have of financial institutions. And although banks are not the only parties […]
Who is Picking up the Tab for the Financial Crisis? Is it Fair?
The most heavily indebted governments have always resorted to the same strategy: inflation. Suppose you owe 100 euros that you need to repay in one year at an interest rate of 3%. When the time comes, if inflation is 5%, you will repay 103 euros with a purchasing power of only 98 euros. The lender […]
Organizations and the Virtuous Circle
Recently, there has been a lot of debate about the actual objective of “the organization.” In the Western World, the prevalent view over the last decades has been that its objective was maximizing shareholder value above any other consideration. In other words, the HOW, (whether or not a company is virtuous in accomplishing objectives), did not […]
Compliance as a Tool of Ethics
The first time I heard the term “corporate compliance,” I must confess it didn’t sit well with me. The term seemed to transform social responsibility – or worse yet, ethics – into mere compliance with policy, norms and rules as dictated by law and regulation or corporate self-regulation. (An example of the latter would be […]
