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The moral foundation of collective action against economic crimes

Author

Listed:
  • Daud Vicary Abdullah

    () (The Global University of Islamic Finance)

  • Hossein Askari

    ()

  • Abbas Mirakhor

    () (The Global University of Islamic Finance)

Abstract

In recent years, economic and financial crimes have been increasing at a fast pace. No country, society, culture or community has been immune from its ravages, yet the international community has failed to cooperate in finding a solution. The main reason for failure may be the lack of a clearly articulated moral foundation. A universal moral principle that could serve as the foundation must be concerned with “harm” and its prevention, and attract universal “consent.” We argue that the Golden Rule satisfies these requirements. The golden rule of “no harm” buttressed by the specificity of the four categories of “generic rights” and “basic good,” i.e. human dignity, trust, contract, and property, could emerge as a consensual global moral principle and allow the development of legislations, laws, standards, codes and conventions that would be accepted and respected by the entire international community in the fight against economic crimes.

Suggested Citation

  • Daud Vicary Abdullah & Hossein Askari & Abbas Mirakhor, 2015. "The moral foundation of collective action against economic crimes," PSL Quarterly Review, Economia civile, vol. 68(272), pages 9-39.
  • Handle: RePEc:psl:pslqrr:2015:12
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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/13079/12888
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    References listed on IDEAS

    as
    1. Banuri, Sheheryar & Eckel, Catherine, 2012. "Experiments in culture and corruption : a review," Policy Research Working Paper Series 6064, The World Bank.
    2. Steven Shavell, 2002. "Law versus Morality as Regulators of Conduct," American Law and Economics Review, Oxford University Press, vol. 4(2), pages 227-257.
    3. Sah, Raaj K, 1991. "Social Osmosis and Patterns of Crime," Journal of Political Economy, University of Chicago Press, vol. 99(6), pages 1272-1295, December.
    4. Conley, John P. & Wang, Ping, 2006. "Crime and ethics," Journal of Urban Economics, Elsevier, vol. 60(1), pages 107-123, July.
    5. Abbas Mirakhor & Iqbal Mehdi Zaidi, 2006. "Rethinking the Governance of the International Monetary Fund," IMF Working Papers 06/273, International Monetary Fund.
    6. Paulo Roberto Arvate & Andrea Zaitune Curi & Fabiana Rocha & Fabio Miessi Sanches, 2010. "Corruption and the size of government: causality tests for OECD and Latin American countries," Applied Economics Letters, Taylor & Francis Journals, vol. 17(10), pages 1013-1017.
    7. Alberto Ades & Rafael Di Tella, 1997. "The New Economics of Corruption: a Survey and Some New Results," Political Studies, Political Studies Association, vol. 45(3), pages 496-515, August.
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    Cited by:

    1. Carlo D'Ippoliti, 2015. "Introduction," PSL Quarterly Review, Economia civile, vol. 68(272), pages 3-7.

    More about this item

    Keywords

    Economic Crimes; Golden Rule; Globalization; Moral; Foundation; Cooperation; Harm; Consent;

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines

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