It objected the parable of the invisible hand

In the total loss of confidence between credit institutions is where the crisis began and increased is likely responses to the question which continues to pay the chronic: doing business and have something to do with the moral functioning The answer is Yes. With what ease and in what spirit should address the subject, person does better stated that the great initiator of the art of management. Speaking of debates and conferences organized around the theme of "business ethics", Peter Drucker said: nothing is to seek to define one that is specific, the admission that its leaders intend to escape little or less laws and reactions of ordinary honest behaviour, as they are known (if not always observed) by everyone, including businessmen and businesswomen.

However, the honest pipes referred to here as "ordinary" in the sense of "customary" and "from itself" continue to inspire the actions of the vast majority of the population, was stopped in our ultra sophisticated Western countries to see an efficient factor, for example of economic life. The pioneers and masters of economic thought Adam Smith, David Ricardo, Jean-Baptiste Say have made, them to rely on this forgotten factor.

It objected the parable of the invisible hand. Very often, it is pursuing his own interest and not deliberately seeking to promote that of the entire society that a craftsman, a merchant, industrialist will contribute more effectively to the public good. But using this example, Adam does nothing other than to recognize a universal experience: If there is one area where the man is by necessity called to strong utilitarian moral ("what is right is that is most favourable to me"), it is obviously professional activity. The issue relates directly to the instinct of self-preservation: "livelihood". And, in any event, the economic agents, to ensure his income, must enter through the Exchange in relation to others to sell him the fruit of his work. However, the Exchange is by nature a relationship of equality. Each of the two coéchangistes must make sense.

In the relational point of Exchange, if intervenes little either, but necessarily, something resembling the professional honour. More or less noticeable dose is between respect (or love) of others and of oneself. One who is totally free will sooner or later "grilled". The public imagination to revels in such illustration of the actual sanctity speech given on such and such market to the highest degree of perfection. At Antwerp, the rarest diamonds go hand in hand without any written evidence.

Where that in the past thirty-five years, on the financial markets, but not only them, the very notion of honour has virtually disappeared Products, more and more sophisticated, to lend more and more to fraud But how explain (our chronic previous, published March 31), that agencies rating close eyes before a falsification of classification (in degree of solvency) cut appropriations sliced for the purpose of securitization

A cardinal principle of the market economy was that "each transaction is an independent transaction" (Ricardo). This assumes that each transaction is binding (at least) two people are determining one by the other. But the primacy given thirty-five years (following the abandonment of the gold standard of Bretton Woods) to the financial sphere on the productive economy causes the gradual disappearance of the relational increasingly reduced to the transactional. Previously, each Director of banking agency of neighbourhood decided the granting or not a credit to a customer. Since then, the majority of managers are more economic agents by name. They have lost any autonomy. Decisions are taken in the light of statistics (the credit I will be granted if I enter in this category already listed borrowers). The result is a wonderful disposition with all power and all honours without honor but with a lot of money concentrated at the top of the pyramid. Imitated around the world, the American model of large groups surreptitiously degenerated into a kind of exploded Gosplan.