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The Ethics of Banking

Conclusions from the Financial Crisis

  • Book
  • © 2011

Overview

Authors:
  1. Peter Koslowski

    1. Department of Philosophy, VU University Amsterdam, Amsterdam, Netherlands

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  • One of the few books on the ethical side of the financial crisis
  • Analyzes the systemic and the ethical mistakes that have led to the financial crisis of 2008
  • Investigates the role of speculation in the formation of the financial crisis

Part of the book series: Issues in Business Ethics (IBET, volume 30)

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-xv
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  2. Foundations of Business and Finance Ethics

    1. Front Matter

      Pages 1-2
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    2. Ethical Economy, Economic Ethics, Business Ethics: Foundations of Finance Ethics

      • Peter Koslowski
      Pages 3-13

  3. The Ethical Economy and Finance Ethics of the Markets for Credit, Capital, Corporate Control, and Derivatives

    1. Front Matter

      Pages 15-15
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    2. The Ethical Economy of the Credit Market

      • Peter Koslowski
      Pages 17-29

    3. The Ethical Economy of the Capital Market

      • Peter Koslowski
      Pages 31-49

    4. Insider Knowledge and Insider Trading as Central Problems of Finance Ethics

      • Peter Koslowski
      Pages 51-69

    5. The Ethical Economy of the Market for Corporate Control and for Corporate Know-How

      • Peter Koslowski
      Pages 71-81

    6. The Ethical Economy of the Market for Derivatives: Trading with Values Derived from Other Values for Hedging, Speculation, and Arbitrage

      • Peter Koslowski
      Pages 83-95

    7. Interdependences Between the Financial Markets for Credit, Capital, and Derivatives, and the Challenges the Financial Markets Pose for Ethics

      • Peter Koslowski
      Pages 97-103

    8. The “Banking Secret”, the Right to Privacy, and the Banks’ Duty to Confidentiality

      • Peter Koslowski
      Pages 105-116

  4. Financial Wagers, Hyper-Speculation, Financial Overstretch: The Financial Market Crisis of 2008

    1. Front Matter

      Pages 117-117
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    2. Financial Wagers, Hyper-Speculation and Shareholder Primacy

      • Peter Koslowski
      Pages 119-146

    3. Financial Overstretch: The Epochal Disturbance of the Invisible Hand of the Market by the Financial Industry

      • Peter Koslowski
      Pages 147-195

  5. Back Matter

    Pages 197-214
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Keywords

About this book

The Ethics of Banking analyzes the systemic and the ethical mistakes that led to the crisis. It keeps the middle ground between excusing all failures by the argument of a systemic crisis not to be taken responsibility for by the financial managers and the moralistic reproach that only moral failure is at the origin of the crisis. It investigates the role of speculation in the formation of the crisis and distinguishes between productive speculation for hedging and for securing market liquidity on the one hand, and unproductive and even detrimental hyper-speculation going far beyond of the degree of speculation that is necessary in a developed economy for the liquidity of financial markets, on the other hand. Hyper-speculation has increased the risks of the financial system and is still doing so.

Authors and Affiliations

  • Department of Philosophy, VU University Amsterdam, Amsterdam, Netherlands

    Peter Koslowski

Bibliographic Information

  • Book Title: The Ethics of Banking

  • Book Subtitle: Conclusions from the Financial Crisis

  • Authors: Peter Koslowski

  • Series Title: Issues in Business Ethics

  • DOI: https://doi.org/10.1007/978-94-007-0656-9

  • Publisher: Springer Dordrecht

  • eBook Packages: Business and Economics, Economics and Finance (R0)

  • Copyright Information: Springer Science+Business Media B.V. 2011

  • Hardcover ISBN: 978-94-007-0655-2Published: 22 April 2011

  • Softcover ISBN: 978-94-007-3592-7Published: 24 July 2012

  • eBook ISBN: 978-94-007-0656-9Published: 20 April 2011

  • Series ISSN: 0925-6733

  • Series E-ISSN: 2215-1680

  • Edition Number: 1

  • Number of Pages: XV, 214

  • Topics: Finance, general, Ethics

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