Is Ethical Finance the Answer to the Ills of the UK Financial Market? A Post-Crisis Analysis

Abdul Karim Aldohni ()
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Abdul Karim Aldohni: Newcastle University

Journal of Business Ethics, 2018, vol. 151, issue 1, No 18, 265-278

Abstract: Abstract The 2008 financial crisis exposed the dark side of the financial sector in the UK. It brought attention to the contaminated culture of the business, which accommodated the systemic malpractices that largely contributed to the financial turmoil of 2008. In the wake of the crisis there seems to be a wide consensus that this contaminated culture can no longer be accepted and needs to change. This article examines the ills of the UK financial market, more specifically the cultural contamination problem, which was uncovered by the 2008 financial crisis, in order to explore its genesis and the suitable solutions for it. In this regard, the article analyses the ethical finance sector from theoretical and practical perspectives in order to assess its role in addressing the cultural contamination problem of the UK financial market.

Keywords: 2008 Financial crisis; Cultural contamination; Individualism; Accountability; Ethical finance (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (4)

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DOI: 10.1007/s10551-016-3269-5

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