The Ethics Of Business

In the past two years major scandals have rocked the world of business. These have affected the high-profile names in the City of London such as centuries-old Barings Bank, which collapsed under US $1 ruputable Morgan Grenfell.
Elsewhere the New York branch of Daiwa racked up losses of US %1.1bn through trading US treasury bonds, While secret copper trades of 'Mr. Five Percent at Japan's Sumitomo resulted in losses now put at US $ 2.6bn. Prominents politicians in India and Pakistan and event tow former Presedents of Korea, have all been given leading parts in an unending gallery of greedy rogues.
In a case of widespread fraud at German steel and engineering giant Thyssen, one of the top anti-corruption prosecutors said " We are witnessing a loss of values in Germany. Moral and thical principles in Germany boardrooms have gone to the dogs , the only thing that seems to matter is profits and selfish materialism". Lax controls, the bending of rules and white-collar crime are seen as having eached epidemic proportions with allegations from Australia to Alaska tarnishing household names previously seen as epresenting the paragon of boardroom ethics.
It appears that in some countries public intolerance of economic injustice, exploitation and dishonesty is on the verge of exploding as more people are posing ever more searching questions. Instead of listening to companies saying "trust me", individuals are telling them "show me"and wanting to see proof of the honesty and integrity they tought to the world. Likewise, corporate leaders are thinking about their obligations to staff, families, investors and public, wondering to what extent ethical standards are involved in making money and running a successful and responsible business. Can moral and ethical principles help sort the wheat from the chaff and distinguish good money from bad? And if he so, how do we know it is not just psychobabble or superstitious mimbo-jumbo, an unread "In God we trust" self consciously tacked on the back of dollar note? When Christ throw the moneylenders out of the Temple did that signify the fall of the sacred shekeldom, the excommunication of Lucre from the house of God?