Economic Vice

End of Ethics

Image Source: Wordery.com

“Main Street” expects its CEOs, Fortune 500 companies, and private equity firms to hit “home runs” on a daily basis. Unfortunately, no matter how much quantitative acumen and market awareness an investment manager may retain, no Wall Street all-star can consistently hit the ball over the fence for investors and shareholders. Sometimes, they strike out. Inevitable losses are part and parcel of a capitalist economy. However, to appease investors and shareholders, executives have turned to the proverbial performance-enhancing drugs: what we will call economic vice. Economic vice produces artificial home runs for shareholders and creates unrealistic market expectations.”

The End of Ethics and A Way Back: How To Fix A Fundamentally Broken Global Financial System by Theodore Roosevelt Malloch, Jordan D. Mamorsky

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