The High Price of Low Ethics: How Corruption Imperils American Entrepreneurship and Democracy

Journal of Markets and Morality, Vol. 9, No. 2, pp. 277-291, Fall 2006

Posted: 15 Oct 2007

Abstract

Corporate corruption threatens democracy and endangers the advancement of entrepreneurship as one of the fundamental traits of economic life in the United States. In this article, Carl J. Schramm proposes zero tolerance for unethical business behavior. Compared with war or medicine, business ethics seem relatively simple. Honor contracts. Treat customers fairly. Be truthful about the condition of a commodity. Be transparent to investors. This is just to say, there is a high price to pay for low ethics.

Keywords: corruption, ethics, corporations

JEL Classification: D720, K420, L260, M140

Suggested Citation

Schramm, Carl J, The High Price of Low Ethics: How Corruption Imperils American Entrepreneurship and Democracy. Journal of Markets and Morality, Vol. 9, No. 2, pp. 277-291, Fall 2006, Available at SSRN: https://ssrn.com/abstract=1021261

Carl J Schramm (Contact Author)

Syracuse University ( email )

900 S. Crouse Avenue
Syracuse, NY 13244-2130
United States

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