was the financial crisis caused by corporate psychopaths?
Was the financial crisis caused by corporate psychopaths? Clive Boddy, writing in the Journal of Business Ethics, seems to think so.
These corporate collapses have gathered pace in recent years, especially in the western world, and have culminated in the Global Financial Crisis that we are now in. In watching these events unfold it often appears that the senior directors involved walk away with a clean conscience and huge amounts of money. Further, they seem to be unaffected by the corporate collapses they have created. They present themselves as glibly unbothered by the chaos around them, unconcerned about those who have lost their jobs, savings, and investments, and as lacking any regrets about what they have done. They cheerfully lie about their involvement in events are very persuasive in blaming others for what has happened and have no doubts about their own continued worth and value. They are happy to walk away from the economic disaster that they have managed to bring about, with huge payoffs and with new roles advising governments how to prevent such economic disasters.
Many of these people display several of the characteristics of psychopaths and some of them are undoubtedly true psychopaths. Psychopaths are the 1% of people who have no conscience or empathy and who do not care for anyone other than themselves. Some psychopaths are violent and end up in jail, others forge careers in corporations. The latter group who forge successful corporate careers is called Corporate Psychopaths.
I have a complaint to make to the editors of the Journal of Business Ethics. Why is the term “Corporate Psychopaths” capitalized every time it appears in the paper? As if that’s not enough, why do we need the to capitalize “Global Financial Crisis” every time it appears in the paper? This combination leads to unattractive sentences like this:
The knowledge that Corporate Psychopaths are to be found at the top of organisations and seem to favour working with other people’s money in large financial organisations has in turn, led to the development of the Corporate Psychopaths Theory of the Global Financial Crisis. The Corporate Psychopaths Theory of the Global Financial Crisis is that Corporate Psychopaths, rising to key senior positions within modern financial corporations…..
Why not just capitalize and put in bold every letter and add blinking animation for emphasis?