Above is an article posted on NPR by Kirk Siegler, “Should Economists Reveal Who Pays Them?”
Greed and corruption may never be eliminated from the human condition but that does not mean that it is simply a cost of doing business. With all do respect to Mr. Colander, without any guiding principles to help shape the morays and norms of a culture human beings will invariably choose to “eat the apple off the tree” almost every time.
In Western Europe, the principles of Chivalry as a cultural standard evolved from necessity of the times. Soldiers, knights and even kings were often little more than mercenaries or pirates looking for plunder. Much of which was the result of the barbarism and corruption of the Middle Ages and the Crusades. The whole “Knights of the Round Table” tradition arose as the highest standard in which leaders should conduct themselves.
Similarly in Japan, the Samurai code of Bushido reshaped the cultural paradigm of a country and united a people like never before. Personal honor and conduct became a higher value than life itself and mercenaries who served only their own needs and wants were labeled “Ronin”(leaderless samurai) and were often treated a outcasts, despite their class standings.
Little is likely to change on Wall Street until pride in a great nation built on principles, personal honor in professional conduct and real consequences for poor judgement replaces the self-serving mercenary culture of today.
Will you become part of the solution? Or the problem?