SSE/EFI Working Paper Series in Business Administration
No 2004:12:
Financial Mentality beyond Good and Evil
Peter Norberg ()
Abstract: The tacit morality plays a vital part of a culture. A
particular morality is caused by the fact that particular social forces are
needed to keep financial markets together. The mentality of financial
markets has causes in the particular working conditions. A particular set
of values of actors is likely to make financial markets work.
Which
morality is formed? Abstract greed and the invisible hand play a part.
Digitalisation promotes an amoral mentality, irresponsibility and
estrangement. The superman of Nietzsche perceives that acts beyond good and
evil disembed financial institutions. Brokers and traders often have
training in neo-classical economics, promoting certain personal
convictions. Brokers neglect dimensions of ethics beyond explicit rules.
Keywords: abstract greed; amorality; disembeddedness; financial markets; the invisible hand; (follow links to similar papers)
28 pages, September 18, 2004, Revised October 31, 2005
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