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Gier und ihre Gefahren. Warum die Diskussionen um Managergehälter und Bankerboni keine Neiddebatten sind

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  • Hecker, Christian

Abstract

This paper aims to analyze the perception of greed, based on Jewish-Christian tradition and Aristotelian philosophy, from an economic vantage point. It demonstrates how far this tradition influenced the economic thinking of Adam Smith and John Stuart Mill and points out that Aristotelian criticism of greed can also be substantiated according to Kantian ethics. Greed is thereby interpreted as an erosion of measures in different contexts: profits, salaries, passions, and risks. Subsequently, a corresponding approach to greed is applied to contemporary economic challenges, especially regarding the origins of the recent financial markets crisis. It appears that the emergence of the crisis was connected with eroding measures in several contexts, which distorted investor behavior and risk perception in the financial markets.

Suggested Citation

  • Hecker, Christian, 2019. "Gier und ihre Gefahren. Warum die Diskussionen um Managergehälter und Bankerboni keine Neiddebatten sind," Zeitschrift für Wirtschafts- und Unternehmensethik - Journal for Business, Economics & Ethics, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 20(1), pages 52-75.
    • Handle: RePEc:nms:ethics:10.5771/1439-880x-2019-1-52
    DOI: 10.5771/1439-880X-2019-1-52
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