When the report of the Financial Services Royal Commission was handed down more than a year ago, it was a shock to the system. But have practices in finance or any other sector actually changed?
In evidence to the Commission, former Treasury Secretary and NAB chair Dr Ken Henry pondered whether the cause of business misconduct might be capitalism itself. “The capitalist model is that businesses have no responsibility other than to maximise profits for shareholders,” said Henry. The consequence of this mindset, he argued, is that customers are treated in an instrumental fashion: as a means to profit rather than as human beings with rights and interests. This same might be said for the environment, or animals. If profit is King, who or what plays the role of serf?
In this audio interview Professor Elizabeth Sheedy discusses the new study of unethical behaviour in major organisations she co-authored.
Radio National, 12 February 2020See More