Ethic and critical thinking Essay Example | Topics and Well Written Essays - 1750 words

Ethic and critical thinking - Essay Example The movie unconditionally showed that the financial crisis experienced globally was certainly caused by ethical practices that were perpetuated by financial services industry. The film further indicated that the immoral practices in the financial service industry were contributed by the general public, entrepreneurs, and government officials. This means that these groups participated in perpetuating these unprofessional activities in the face of economic meltdown in the world (Fergusson 46). From the film, it is also clear that the financial crisis experienced in the world was caused by the unethical practices in the business environment. The film was understandably irritating because financial institutions concentrated more on undertaking dubious business practices that had serious implications on the economy of the nation. The financial institutions at this time abandoned their responsibility of ensuring that the stakeholders were not exploited by greedy individuals and organizations. These greedy individuals and companies were guided by their individuals’ interests and greed that made them turn into unprofessional practices (Greenspan 98). The financial service industry was no longer interested in promoting strategies that would boost the standard of the economy via increasing the capital for other companies within and outside the industry. The increase in the market capital lowered the unemployment rate and consequently, boosted the country’s Gross Domestic Product (GDP). The industry had in the recent reduced capital for some of the firms, thus impacting negatively on the economy of the country. The government, through financial institutions gave capital to few selected companies thus favoring some companies. This created unequal financial implications to these companies. These companies, who were allocated capital, benefited few individuals thus compromising