Business under the dominance of the financial markets? Orientations of socio-ethical perspective
AbstractThere is a crucial change in the German financial system and in listed corporations: The influence of the financial markets has grown in both fields. Subsequently, shareholders can enforce their interests more efficiently than other stakeholders (e.g. affiliates, NGOs, political communities and employees). In the paper, diverse explanations for this development are presented and evaluated: disintermediation, financial market capitalism and ‘financialization’. Afterwards, the topic is discussed in the perspective of theological ethics. Catholic Social Teaching features no financial ethics, but it includes some thoughts that offer an orientation for economic policy, the concept of an economy in service of the common good, the idea of a cooperation of state, market and civil society and socially anchored entrepreneurship as well as the conception of a serving financial economy. In conclusion, action perspectives are described.
How to Cite
REICHERT, Wolf-Gero. Business under the dominance of the financial markets? Orientations of socio-ethical perspective. Acta Universitatis Carolinae Theologica, [S.l.], v. 6, n. 1, p. 85–102, june 2016. ISSN 2336-3398. Available at: <http://theologica.cz/index.php/theologica/article/view/182>. Date accessed: 23 july 2019. doi: https://doi.org/10.14712/23363398.2016.5.
Financial markets; Business; Financial System; Social Ethics; Catholic Social Teaching
This work is licensed under a Creative Commons Attribution 4.0 International License.Authors grant the copyright of their papers to Nakladatelství Karolinum, the publisher of AUC Theologica. The work is simultaneously licensed under a Creative Commons Attribution License 4.0 that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.