Wall Street Movement in the Light of Ethics Research Paper

Wall Street Movement in the Light of Ethics - Research Paper Example Values could be defined as the foremost principles of human existence, and they are concerned with the concept of good and bad, right and wrong, duty and responsibility (Hall, Jones, & Raffo, 2004) It could be assumed in the light of above definition, that these are fundamental laws that make us human. This set of values grant same status to everyone in the community, irrespective of gender, color and race. These principles also give the right to all humans to express their feeling and emotions within the boundaries of federal and regional law, but the approaches, that are applied to do business at Wall Street violated these laws. The scholars have categorized these values in the following typologies. This approach is of conventional nature, and based upon the concept of privileges and obligations oneself must fulfill (Beauchamp & Bowie, 2004). But this classification relies on strictness. It uses force through training and educating people to help them become good citizens and then fabricates punishments for those who do not follow the traditional ways. In the case of this kind of value system, people are often fearful and break the laws, whenever they can. So it is not an effective method in the long run perspective. This sort of system soon starts to discriminate among the people, by giving more importance to one faction’s rights and desires over those of another. The modern set of values is fundamentally based upon the idea of developing a sense of right or wrong in the people, so that they could judge their own actions in the light of morality (Beauchamp & Bowie, 2004), but this approach is firmly linked with the overall economic condition of the nation, because the morality decreases, with the deterioration of economic climate. Modern norms aim at