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Financial Mentality beyond Good and Evil

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  • Norberg, Peter

    ()
    (Dept. of Business Administration, Stockholm School of Economics)

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    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.

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    Bibliographic Info

    Paper provided by Stockholm School of Economics in its series Working Paper Series in Business Administration with number 2004:12.

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    Length: 28 pages
    Date of creation: 18 Sep 2004
    Date of revision: 10 Feb 2005
    Handle: RePEc:hhb:hastba:2004_012

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    Related research

    Keywords: abstract greed; amorality; disembeddedness; financial markets; the invisible hand;

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    1. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
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