One subject that is often over looked when it comes to the subject of business ethics is that of tyrannical systems within a certain economy. One of the reasons is because in most developed democratic societies there is a large base of similar businesses in close competition. Well this overpowered business entity that I mentioned earlier does exist in Sweden’s banking industry. 160 years ago a man named André Oscar Wallenberg started a bank in sweden that today is known as Skandinaviska Enskilda Banken (SEB), this bank is not only still thriving today but has the same family in charge of it. After beginning this article the question that popped into my head was, why is this aloud to happen? One of the main reasons is because the family keeps such a low profile they aren’t Donald Trump they don’t go around boasting about thier riches. Getting back to the subject under consideration is it ethical for one family or group of people to own such a large amount of a certain economy and work force. This brings me to my next question which is how do they use there power? In the case of the Wallenbergs they are very respectable and don’t abuse there power and wealth (at least in a way for it to be very public). But one thing that history has taught us is that if you abuse your power you usually lose it. A good example of this is a monarchy in todays society monarchies are either non existent or in the vast majority of cases limited. The reason for this is because the majority of the cases monarchies abused there power and got shut down. So I would have to say based on the fact the Wallenbergs have not abused there power to the extent that it has bothered people, they are ethical business people. Although if they do abuse there power they would loose the ethical power that they currently hold.

article: http://www.economist.com/news/business/21694555-lessons-100-years-familys-industrial-empire-nordic-pyramid

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