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