Tuesday, August 5, 2014

Personal ethics do matter

Why are people in power positions in public or private institutions applying policies or engaging in actions that make other people suffer?

Is it because they believe what they are doing is correct (I hope that is the case of those working at ministries of finance, central banks and the military) or is it because they think it is permitted (I think that is the case of many of those working in the private sector)?

People working in the private sector commonly believe that any action is permitted that is 'legal' (as in the case of the vulture funds acting against Argentina or, earlier, during the Allende government, of the US copper companies Anaconda and Kennecott acting against Chile). But a better, or additional, criterion would be: anything is permitted that is ethical. Personal ethics do matter.

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