It is not out of the benevolence of the brewer, the baker or the butcher that we get our daily bread but by their own selfish interest.

This statement by Adam Smith underscores the fact that our global economy cannot be shaped without considering the workings of the global society. The recent economic crisis show that global markets have separated morality and business activity in recent times. The missing piece, I believe, is recognition and care for society. It is fundamental to promoting the real ethical principle of responsibility in the event of the crisis. Managers especially, in their risk taking ride forgot that their actions impact beyond their offices and national borders. If one could mirror the devastating effects of a wrong decision in their institution on the poor in the global society we would have been better of.
We need to shape moral markets formed by institutions driven by a ‘compass of morality’ and also built on the six dimensions of virtue ethics in business as Aristotle present in his philosophical theory of ethics- community, excellence, role identity, holism, integrity and judgment.

Greed makes the global system volatile and morality is key because any wrong act sends seismic waves across the global landscape. We are at the cross-roads to act together for generations to come. I conclude with Albert Einstein’s quote, “The significant problems we face today cannot be solved at the same level of thinking we were at when we created them”. Let’s think and act differently.