How can a lack of business ethics negatively affect the performance of an economy? Give an...
How can a lack of business ethics negatively affect the performance of an economy? Give an example.
Homework Answers
A lack of business ethics can lead to corruption, which, in turn, creates inefficiencies in an economy, inhibits the growth of capital markets, and slows the rate of overall economic growth.
For example, the Russian economy has had a relatively difficult time attracting foreign investment since the fall of the Soviet Union due, in part, weak ethics in the business community and corruption in the business community and local and national governments. Lower foreign investment has led to slower overall economic growth than the country might otherwise have enjoyed
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How can a lack of business ethics negatively affect the
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