Insider Dealing

Norman Barry

Chapter 5 in Business Ethics, 1998, pp 91-116 from Palgrave Macmillan

Abstract: Abstract On a visit to England in the eighteenth century the French Enlightenment thinker, Voltaire, was tremendously impressed by the morality and liberality which were mainly brought about by commerce. In his Letters on England, he gave this famous panegyric to the London Stock Exchange: Go into the London Stock Exchange — a more respectable a place than many a court — and you will see representatives of all nations gathered there for the service of mankind. There the Jew, the Mohammedan, and the Christian deal with each other as if they were of the same religion, and give the name of infidel only to those who go bankrupt. There the Presbyterian trusts the Anabaptist, and the Anglican accepts the Quaker’s promise.1 What he was describing was a world in which traders knew and trusted each other, where there was little or no regulation and where the peaceengendering and conflict-resolving features of capitalism were manifest.

Keywords: Business Ethic; Stock Market; Security Market; Fiduciary Duty; Inside Information (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12386-5_5

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DOI: 10.1007/978-1-349-12386-5_5

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