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Such is the scenario currently where businesses have concentrated on personal gains at the expense of their customers’ service delivery.
The Wall Street Greed tendency has been captured clearly by a scholar named Michael Douglas (Heesun, Page 10-45). Even though Douglas asserts that greed sometimes can benefit businesses whenever they serve their customers, he concurs that the very same greed only benefits a few individuals but only to a certain extent. The general argument by most Wall Street publishers is that if a business’s profits are highly based on the prosperity of its customers then the general assumption is that whatever is good for the customers must be good for the society. Such assertions form the basis of Wall Street Greed currently.
Critics further argue that the Wall Street Greed, as exhibited today, is all about Wall Street itself (Heesun, Page 5-35). The interest of Wall Street has been totally separated from the interest of the society at large. Ethics forms the basis of any economic implications for the decisions made by businesses within the economy. There has been a shift in argument in the sense that initially assertions were that for any economic meltdown or any bailout involving larger amounts of the taxpayers’ money does not necessarily lie with the banks but rather it now revolves around the ethics and values embraced by the businesses within the economy.
The Wall Street case has clearly shown that there is a major breakdown between the business activities and priorities of most organizations and the ethical values that should be attached to them (Heesun, Page 15-85). There has been a continuous disconnect between ethics and economic freedom. In most cases, individual perception on the available opportunities has significantly influenced the business decisions by most organizations. This has resulted in the individualistic
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