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Can a Good Person be a Good Trader? An Ethical Defense of Financial Trading

Author

Listed:
  • Marta Rocchi

    (Pontificia Università della Santa Croce)

  • David Thunder

    (Universidad de Navarra)

Abstract

In a 2015 article entitled “The Irrelevance of Ethics,” MacIntyre argues that acquiring the moral virtues would undermine someone’s capacity to be a good trader in the financial system and, conversely, that a proper training in the virtues of good trading directly militates against the acquisition of the moral virtues. In this paper, we reconsider MacIntyre’s rather damning indictment of financial trading, arguing that his negative assessment is overstated. The financial system is in fact more internally diverse and dynamic, and more reformable, than suggested by MacIntyre’s treatment. The challenge at the heart of MacIntyre’s claims can be crystallized in the question, “under which conditions, if any, can a person be an effective trader and simultaneously live a worthy human life?” We conclude that there are realistic possibilities of integrity and growth in moral virtue for those who work in the financial sector, at least for those operating in a work environment minimally permissive toward virtue, provided they possess characters of integrity and genuine aptitude for the skills and attitudes required in their professional tasks.

Suggested Citation

  • Marta Rocchi & David Thunder, 2019. "Can a Good Person be a Good Trader? An Ethical Defense of Financial Trading," Journal of Business Ethics, Springer, vol. 159(1), pages 89-103, September.
    • Handle: RePEc:kap:jbuset:v:159:y:2019:i:1:d:10.1007_s10551-017-3756-3
    DOI: 10.1007/s10551-017-3756-3
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    References listed on IDEAS

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    1. Ouriemmi, Oussama & Gérard, Benoît, 2023. "Control dynamics in rogue trading: Sovereignty and exception-to-the-rule attitudes in the contemporary financial sphere," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 91(C).

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