The current Subprime Financial Crisis: Ethics Issues and Potential Reforms

Friday, 13/06/2008

ALBA Graduate Business School invites you to the annual event for the Aristides Daskalopoulos Endowed Professorship in Business Ethics titled ''The Current Subprime Financial Crisis: Ethics Issues and Potential Reforms'' on Tuesday, June 24, 2008, at 18:30 at the ALBA premises.

The oldest and perhaps best definition of business ethics comes from Aristotle. In Book 1 of the Nicomachean Ethics Aristotle explains that The end of... economic (management) science is (to create) wealth in such a way (praxis/action) ...that developmentally changes the actor and the external world''. That is, the purpose of business is to create wealth in a way that makes the manager a better person and the world a better place. It is possible to simultaneously create wealth, be ethical, and be happy.

The current subprime financial crisis is an important example from an Aristotelian perspective of what business ethics could have been, but is not. What it all boils down to in this problematical situation, is not creating wealth and not making ourselves and the world better and instead, it is about some getting rich at the expense of others. All human systems have flaws including the varieties of political-economic systems and the varieties of capitalism. By identifying weak spots in the capitalist system such as parts of the subprime situation, does not lead to the conclusion that we should throw out most things regarding capitalism, rather it is about reform.


Welcome Addresses:
-  Mr. Dionissis Nikolaou, Vice President, ARISTIDES DASKALOPOULOS FOUNDATION
-  Professor Nickolaos G. Travlos, The Kitty Kyriacopoulos'' Chair in Finance & Dean, ALBA Graduate Business School

- Dr. Richard P. Nielsen, The ''Aristides Daskalopoulos'' Endowed Professor in Business Ethics, ALBA Graduate Business School

- Mr. Nikos Ebeoglou, Chairman of the Board, ALBA Graduate Business School

You may download the invitation here

R.S.V.P Ms. Sophie Dimitriadou, tel.: 210-8964531, e-mail: [email protected].


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