Aug/090
Ethics and finance: the future?
These days you’ve heard a lot of talk about a topic that before the crisis did not play very well: Ethics and Finance. Yesterday Draghi said the encyclical the Holy Father on ethics and economics:
The Governor of the Bank of Italy, Mario Draghi, has written an article in the Observatory Romano, the Vatican newspaper, repeating the intervention of the Pope concerning their economy in the third encyclical: “to resume the path of development should be create the conditions for the general expectations, what Keynes called long-term return favor. You must restore the confidence of businesses, families, citizens, persons in the ability of stable growth of economies.”
After the financial crash of banks and financial institutions around the world probably has realized that, in addition to the normative rules in order to run the economy and we are all better, it takes a bit of ethics. Finally!
Written laws can always be circumvented, while the moral laws, although not legally valid, allow us to guarantee social welfare.
It is more important to be a nation rich or happy?
Demand in the past if the posts are several economists and eventually follow always the same: money brings happiness?
But as Toto said the money does not bring happiness, let alone the misery.
Here then is that finance has to understand that money is tied to the welfare of society and the individuals who compose it.
Money and morality go hand in hand.
The value of money is a means to improve the happiness of a nation and not just an interest.
Selfishness cannot bring anything but unbridled deep crisis and discontent common.
Now that we are starting to say the first words on this subject, how long will it take to introduce it effectively in the economic system?