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18 - How improper use of money can lead to economic and financial disaster.
The crisis was predictable to a large extent and was caused by a greedy obsession with short-term gain, the ensuing multiplication of increasingly complex and impenetrable financial products, an "easy money" policy pushing for excessive indebtedness, and a widening gap between the financial and speculative sphere, on the one hand, and "real economy", on the other.
To leave the crisis behind, economic players need to fully assume their own responsibilities, whatever the means of control and regulations may be:
- By giving preference to long term strategies over short term illusions;
- By incorporating extra-financial standards into their financial decisions.
It is possible to innovate in financial area while respecting these principles.
John BOATRIGHT - Professor of Business Ethics at Loyola University Chicago (USA)
John R. Boatright is an American expert in ethic issues applied to financial services, and in corporate governance. He is Director of the Graduate Certificate Program in Business Ethics at the Graduate School of Business at Loyola University in Chicago. He has been President of the Society for Business Ethics. He has also provided ethics training for a number of companies and organizations.
Download his PowerPoint presentation: Powerpoint John BOATRIGHT
Alex MARKEVICH - Consultant in business strategy and sustainable development - Sustainable Value Creation (USA)
Alex MARKEVICH has been Vice-President of the scientific committee of the Rocky Mountain Institute, an american organisation carrying out studies in the energy sector to provide innovative and sustainable solutions, until 2008. He then created « Sustainable Value Creation », a consulting firm in business strategy and sustainable development.
Download his PowerPoint presentation: Powerpoint Alex MARKEVICH
Moderator:
Luc VAN LIEDEKERKE - President - EBEN (European Business Ethics Network) (Belgium)
Luc Van Liedekerke is a teacher and the Co-director of the Centre for Economics and Ethics at the University of Leuven. He is the President of the European Business Ethics Network (EBEN), a network developed in some 40 European countries that gathers companies, civil servants and academics. It aims at promoting business ethics and boosting exchanges of experiences on ethical problems happening within European companies. He was there at 2007 and 2008 World Forum Lille, and is also a member of the college of experts.
