Blog Assignment on Business Ethics

According to this article, Wall Street’s Economic crisis is also an economic crime against humanity. I strongly agree with the article, as one of the main causes of this economics crisis was the irresponsibility way in which the people involved conducted business. For example, as shown on the article, a mortgage broker was quoted stating that “I figured my job was to get the transaction done…Whatever came after the transaction – that was on him, not me”. Many business executives also gained huge amounts of wealth at the cost of the economy, destroying trillions of dollars in value and also ruining the lives of millions of lives.

There was clearly no emotions involved, as if this was a war and these anything other than individual gain is the enemy. This allowed them to be indifferent about the consequences of their choices, hence ‘paving the way for a full-scale administrative economic massacre’.

According to the article, the majority of the experts ‘blame a lack of regulation and oversight’ and ‘misguided incentive programs’. This shows how the lack of ethics on the executives goes on to destroy any form of moral values or ethics their employees have.

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