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Ethical Financial Market!

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Let’s define together the principal guidelines and new challenges of finance of the third millennium.
In a recent past, a series of grave scandals (those involving Enron, Worldcom, Parmalat, and others) reignited debate over the role of ethics in the conduct of business and the management of business activities. With the onset of the last financial crisis, which originated in the United States and soon spread worldwide due to the interconnectedness of intermediaries, markets and national economies, the issue has taken on crucial systemic importance due to the widespread incidence of speculative behavior and of flaws in both the market and market regulation. The subject of the role of ethics in the economy has now more than ever come to the fore. Questions are being raised over what is and what should be the relationship between ethics, economics and finance; over what values might underpin a market gone global; and over what mechanisms could help promote shared moral standards in an economy where geographical boundaries have become less and less significant. In order to address this issue, it is worthwhile distinguishing between two different uses of the term “ethics”: the first of these concerns the propriety of behavior, characterized by compliance with rules formulated on the basis of the goals of efficiency and fairness. The second sense considers ethics as a preference for altruistic choices;
How to facilitate the emergence within the economic system, and more specifically, in the financial market, of upright behavior that gives rise to “efficient” outcomes? This is the chief concern of Last Day Party, which invites you to define together the principal guidelines, ideas and new challenges for an ethical financial market.

Last Day Party
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