Who is Saving Whom?
"Blind faith in the markets must be replaced and bankers brought to a new understanding… Profit making is different than profit maximization… Profit maximization, the perverse foundation of finance capitalism, can lead to mass unemployment as suffered in Greece and Spain today, exploding inequality and loss of social cohesion.
Today, studying economics is a kind of brainwashing. This must come to an end. At least some paradigmatic pluralism is desperately needed in the economics departments…
Ruthless competition that disregards human rights and environmental standards via non-?regulation and the race to the bottom in standards of good corporate conduct must come to an end..."
to read Prof. Thielemann's “Debunking the Business Case for Ethics,” 4 pp from April 2011, click on
http://wer-rettet-wen.org/index.php/en/new-engl/9-english/69-sppech-dr-thielemann “Crazy Relationships,” Ulrich Thielemann, April 2012
http://www.boeckler.de/36194_40702.htm The blind trust in efficient markets must be replaced and bankers given a new understanding. Profit making is not profit maximization. Neoclassical economists believe profit maximization is rational conduct leading to immunizing against ethics and repressing alternatives and system/structural analysis.
Ulrich Thielemann / Florian Wettstein
The Case against the Business Case and the
Idea of “Earned Reputation”
Ulrich Thielemann is Vice Director of the Ins
titute for Business Ethics at University of
St. Gallen.
Florian Wettstein is an Assistant Professor in the Department of Ethics and Business
Law at University of St. Thomas in Minneapolis, Minnesota.
St. Gallen, February 2008
to read the 62pp study published in February 2008, click on
http://www.mem-wirtschaftsethik.de/fileadmin/user_upload/mem-denkfabrik/Dokumente/Bericht-111.pdf More at www.freembtranslations.net
