ROLE OF BUSINESS ETHICS IN CORPORATE AMERICA, GLOBAL ECONOMY AND Research Proposal

ROLE OF BUSINESS ETHICS IN CORPORATE AMERICA, GLOBAL ECONOMY AND LATEST FINANCIAL CRISIS - Research marriage offer ExampleThe corruption and cupidity that came with power of absolute control through economy also played it pivotal role in the gradual deterioration.The political theory of free market economy and the capitalist economy gave rise to the economic set up that is most evidently practiced in America. It rose against the communistic and fascist ideals and became the representative system of democracy. As the economies grew they evolved into a particular system with concrete rules and regulations. The business and industries developed and as the economy became global, these industries and businesses developed into multinational organizations and incorporate. The corporate became the central organs of the economic system, and with these in place, arose the need of maximizing profits.However, with the complete control of economy came power for these corporate that also held the place to make blusher decisions. As is said the absolute power corrupts absolutely, so with the complete control over most of economic decisions and with the power to manipulate governments with their economic sway, the corporate leading indulged in corruption and the trickle-down effect held true, as all those under(a) them, followed their lead. The corporate culture that developed in these circumstances was fraught with unethical practices it fed greed and greed in turn lead to corruption in all the main quarters. While some of them were charged and punished for their practices, most of them continued the practices under the pretense of maximization of profits that ultimately had to trickle-down to the lower strata of the society.This however, was not the case and while the money accumulated in the coiffeurs of the few, the main people who were supposed to be the beneficiary of the free market suffered and failed to progress. The situation all over the globe remained the s ame. The pecuniary crisis also, affected those at the lower-strata of society, or in the underdeveloped countries, making their sufferings hitherto worse. Starting with the sub-prime mortgage crisis, the economy in America faced a severe fiscal predicament, and the situation led to a complete withdrawal of trustingness on part of the people in the economic policies and transactions of government. This crisis in turn affected the global economy as all those nations who had invested in the corporations that were declare bankrupt or were on the verge of it, sank taking with them all the invested money. The economies globally were also affected because of the severely interconnected nature of the global trade and business. A lower federal reserve in any country affected the trust of all other countries in them and with the US itself on brink of fiscal disaster due to lack of liquidity, the latest situation becomes a matter of grave concern for all involved. The situation also attes ts to the fact that transformations in the current economic set-up are gravely required.ConclusionThe need of the time is to devise methods and make laws, as well as to make sure of the implementation of