scholarly journals Can a Good Person be a Good Trader? An Ethical Defense of Financial Trading

2017 ◽  
Vol 159 (1) ◽  
pp. 89-103 ◽  
Author(s):  
Marta Rocchi ◽  
David Thunder
Keyword(s):  
Work Environment ◽  
Human Life ◽  
Moral Virtue ◽  
Financial System ◽  
Financial Sector ◽  
Good Person ◽  
Moral Virtues ◽  
Financial Trading ◽  
Proper Training

AbstractIn a 2015 article entitled “The Irrelevance of Ethics,” MacIntyre argues that acquiring the moral virtues would undermine someone’s capacity to be a good trader in the financial system and, conversely, that a proper training in the virtues of good trading directly militates against the acquisition of the moral virtues. In this paper, we reconsider MacIntyre’s rather damning indictment of financial trading, arguing that his negative assessment is overstated. The financial system is in fact more internally diverse and dynamic, and more reformable, than suggested by MacIntyre’s treatment. The challenge at the heart of MacIntyre’s claims can be crystallized in the question, “under which conditions, if any, can a person be an effective trader and simultaneously live a worthy human life?” We conclude that there are realistic possibilities of integrity and growth in moral virtue for those who work in the financial sector, at least for those operating in a work environment minimally permissive toward virtue, provided they possess characters of integrity and genuine aptitude for the skills and attitudes required in their professional tasks.

Philosophy as a Way of Life

2020 ◽  
pp. 8-33
Author(s):  
Mark R. Wynn
Keyword(s):  
World View ◽  
Human Life ◽  
Moral Virtue ◽  
Spiritual Life ◽  
Way Of Life ◽  
Moral Virtues ◽  
The Relationship ◽  
Spiritual Ideal ◽  
Guiding Questions

This chapter introduces some of the guiding questions of the investigation, here drawing on Pierre Hadot’s text Philosophy as a Way of Life. These questions include: how should we understand the nature of spiritual goods? What is the relationship between a tradition’s world view and its conception of the well-lived human life? How should we conceive of the connection between the different vocabularies that can be used to describe progress in the spiritual life, for instance, those involving metaphysical and experiential categories? What epistemic conditions, if any, does a world view need to meet if it is to be capable of informing a spiritual ideal of life? And what is the contribution of tradition in shaping our understanding of the spiritual life? The key concept that runs through this volume is Thomas Aquinas’s notion of infused moral virtue, and this chapter also introduces this notion and considers its fruitfulness for addressing the second of these questions, concerning the relationship between world view and ideal of life. A contrast is drawn between Aquinas’s account of these matters, according to which some spiritual goods—the goods that are the object of the infused moral virtues—cannot be identified independently of reference to our theological or metaphysical context, and Hadot’s account, according to which ethical or spiritual ideals come first, and provide the basis for metaphysical commitments. We note some reasons for thinking that this distinction between the two authors should not be too sharply drawn.

Modelling the UK Banking Sector

2010 ◽  
Vol 214 ◽  
pp. F67-F72
Author(s):  
Ray Barrell ◽  
Simon Kirby ◽  
E. Philip Davis
Keyword(s):  
Banking Sector ◽  
National Income ◽  
Financial System ◽  
Financial Sector ◽  
Equation Model ◽  
Dsge Models ◽  
Real Economy ◽  
Equilibrium Models ◽  
Return To Equilibrium ◽  
Dynamic Stochastic

The financial crisis that emerged during 2007 and overwhelmed the financial system in late 2008 also brought to the fore some of the obvious failings of the style of modelling that had been fashionable in central banks in the previous decade. The shift to Dynamic Stochastic General Equilibrium models (DSGE) of whatever sort left no real scope for money and financial markets to have an impact on the real economy. This was in part because equilibrium models based on theory are unlikely to be designed to cope with a period of disequilibrium, which is when the financial system becomes important in macroeconomics. DSGE models come in various guises, and it was common to operate with a three-equation model with demand, supply and the interest rate as the equations. It is hard to see how the financial sector could fit into this, or what use it would be even if it were included. Larger DSGE models that respect the national income identity are easier to augment with a financial sector; but even that developed by the US Federal Reserve (see Edge, Kiley and Laforte, 2010) tends to return to equilibrium rather more rapidly than seems reasonable.

scholarly journals Financial system and growth and economic development

VUZF Review ◽  
2021 ◽  
Vol 6 (2) ◽  
pp. 160-170
Author(s):  
Małgorzata Hala
Keyword(s):  
Economic Growth ◽  
Economic System ◽  
Financial Institutions ◽  
Financial System ◽  
Financial Sector ◽  
Real Sector ◽  
The Real ◽  
State And Local ◽  
The Impact

The aim of the article is to present the role of the financial system in economic growth and development. The first part presents the traditional understanding of the relationship between the economic system and economic growth. The second part presents the experience of financial crises and their impact on the conversation on the mutual relations between the financial sector and the real sector. The third part shows the role of the state in the financial system. The article describes the arrangement of interrelated financial institutions, financial markets and elements of the financial system infrastructure.  It shows what part of the economic system the financial system is, and whether it enables the provision of services allowing the circulation of purchasing power throughout the economy. The article presents the important role of the financial system, the role related to the transfer of capital from entities with savings to entities that need capital for investments. It shows the financial system as a set of logically related organizational forms, legal acts, financial institutions and other elements enabling entities to establish financial relations in the real sector and the financial sector, and this system forms the basis of activity for entities using money, enabling the conclusion of various economic transactions, in which money performs various functions. The article also presents the concept of a financial crisis as a situation in which there are rapid changes in the financial market, usually associated with insufficient liquidity or insolvency of banks or financial institutions, and as a result, a decrease in production or its deepening. The article also includes issues related to the impact of public authorities (state and local authorities) on the financial system in the economy.

DIGITAL TRANSFORMATION OF THE ECONOMY AND FINANCIAL SYSTEM OF RUSSIA

2021 ◽  
Vol 1 (6) ◽  
pp. 82-95
Author(s):  
А. V. ZVEREV ◽  
◽  
M. Yu. MISHINA ◽  
A. V. NOVIKOV ◽  
◽  
...  
Keyword(s):  
Economic System ◽  
Financial System ◽  
Digital Technologies ◽  
Financial Sector ◽  
Digital Transformation ◽  
Economic Relations

The article considers the theoretical aspects of the digitalization of economic relations in Russia, identifies the features of the digital transformation of the economic system and the formation of the digital state. The advanced industries and the most developed digital technologies by Russian companies are identified. The focus is on the digitalization of the financial sector: the main trends and directions of the process are identified, the level of development and implementation of financial technologies in the framework of the formation of the fintech industry is considered.

Financial System Reform: Regulatory Structure, Financial Safety, Systemic Stability and Competition Policy

1997 ◽  
Vol 8 (2) ◽  
pp. 318-332 ◽  
Author(s):  
Warren Hogan ◽  
Ian G. Sharpe
Keyword(s):  
Financial Markets ◽  
Competition Policy ◽  
Financial System ◽  
Financial Sector ◽  
System Reform ◽  
Regulatory Structure ◽  
Markets And Institutions

The paper provides an assessment of the recommendations of the Financial System Inquiry and the Government's reform proposals relating to the regulatory structure, financial safety and the mega-prudential regulator, systemic stability, and competition policy in the financial sector. It is argued that key reform proposals are based on explicit or implicit assumptions relating to the workings of financial markets and institutions. The Report fails to test those assumptions against contemporary and prospective circumstances to determine the practical worth of the recommendations.

Offshore Financial Centers - The Assessment Program - A Progress Report

Policy Papers ◽  
2006 ◽  
Vol 2006 (58) ◽  
Author(s):  
Keyword(s):  
Financial System ◽  
Financial Sector ◽  
Progress Report ◽  
Second Phase ◽  
Executive Directors ◽  
Assessment Program ◽  
International Financial System ◽  
Standard Component ◽  
Financial Center ◽  
Sector Work

This paper updates Executive Directors on the progress since February 2005 in implementing the second phase of the offshore financial center (OFC) program as agreed in November 2003 (see PIN No. 03/138 at http://www.imf.org). At that time, Directors recognized that OFCs could pose prudential and financial integrity risks to the international financial system. In this context, Directors agreed that the monitoring of OFCs' activities and their compliance with supervisory and integrity standards should become a standard component of the financial sector work of the Fund. They also requested periodic updates on the progress with implementation of the program. Earlier updates were provided in March 2004 (Offshore Financial Centers—The Assessment Program—An Update) and February 2005 (Offshore Financial Centers—The Assessment Program—A Progress Report). With the completion of the first round of assessments, staff have begun implementing the second phase of the program.

Aristotelian Virtue and Its Limitations

Philosophy ◽  
1994 ◽  
Vol 69 (269) ◽  
pp. 291-316 ◽  
Author(s):  
Christipher Cordner
Keyword(s):  
Virtue Ethics ◽  
Moral Philosophy ◽  
Human Life ◽  
Moral Virtue ◽  
Ethical Thought ◽  
Living Well ◽  
The World ◽  
Good Will ◽  
The Will

‘Virtue ethics’ is prominent, if not pre-eminent, in contemporary moral philosophy. The philosophical model for most of those urging a ‘virtues approach’ to ethics is of course Aristotle. Some features, at least, of the motivation to this renewed concern with Aristotelian ethical thought are fairly clear. Notoriously, Kant held that the only thing good without qualification is the good will; and he then made it difficult to grasp what made the will good when he denied that it could be its preoccupation with or attention to anything in the world. The idea of the good will then seems to be an idea of something which transcends the world, and therefore to be no easier to make sense of, or to believe in, than Plato′s form of the good is usually thought to be. The first obvious attraction of Aristotle′s ethics, then—at least to those of an empiricist or worldly cast of mind—is that it promises an understanding of the ethical which locates that robustly within the world. Aristotle′s virtues are real this-worldly existences. They are, moreover, qualities whose place in our lives seems to be explained readily, and attractively, in Aristotelian terms. Moral virtue is essentially connected with eudaimonia, a concept variously construed as happiness, as living well, or even as flourishing. Morality is important because of the contribution it makes to the living of a fully human life. And a ‘fully human’ life is characterizable in what modernity calls ‘humanist’, or sometimes ‘naturalistic’, terms: it requires no invocation of transcendence or other-worldliness.

scholarly journals Republic of Kosovo

2020 ◽  
Vol 20 (217) ◽  
Author(s):  
Keyword(s):  
Balance Sheet ◽  
Financial System ◽  
Financial Sector ◽  
Assessment Program ◽  
Financial Soundness ◽  
The Imf

The FSSR mission team conducted a diagnostic review of CBK governance and of the financial system, undertook a stocktaking of the implementation of recommendations from the 2012 Financial Sector Assessment Program (FSAP) and MCM TA, and proposed a TA Roadmap to support the efforts of the authorities to address key gaps and vulnerabilities. The IMF Statistics Department (STA) supported the mission with an assessment of the compilation of financial soundness indicators (FSIs), monetary and financial statistics, and balance sheet matrices (Annex I).

scholarly journals SUSTAINABILITY OF THE FINANCIAL SYSTEM OF THE REGION: ISSUES OF THEORY AND PRACTICE

2020 ◽  
pp. 95-102
Author(s):  
О.В. Гончарук ◽  
Ю.Е. Путихин
Keyword(s):  
Financial Stability ◽  
Financial System ◽  
Financial Sector ◽  
Theory And Practice ◽  
Practical Significance ◽  
Insurance Companies ◽  
Municipal Finance ◽  
The Russian Federation ◽  
The Stability ◽  
Definition Of

В статье с позиций общего методологического анализа понятия «устойчивость» обоснована теоретическая и практическая значимость использования понятия «устойчивость финансовой системы региона», проанализированы подходы к раскрытию особенностей понятий финансовой устойчивости нефинансовых организаций, банков и страховых компаний, проанализированы подходы к определению понятия финансовой системы страны/ региона и ее структуры. В качестве основополагающего для целей анализа устойчивости финансовой системы региона выбран подход, в рамках которого финансовая система региона рассматривается как совокупность взаимодействующих и взаимосвязанных между собой таких секторов как сектор государственных и муниципальных финансов, финансовый сектор региона, региональный сектор корпоративных и личных финансов. Показана неравномерность развития отдельных институтов финансового сектора Российской Федерации и проанализированы основные показатели развития секторов финансовой системы страны за период 2016-2020 гг. Изложены методические подходы Банка России к исследованию финансовой стабильности. Предложено авторское определение «устойчивость финансовой системы региона» и совокупность параметров и показателей для оценки устойчивости секторов финансовой системы региона. The article substantiates the theoretical and practical significance of using the concept of "stability of the financial system of the region" from the standpoint of a general methodological analysis of the concept of "stability", analyzes approaches to revealing the features of the concepts of financial stability of non-financial organizations, banks and insurance companies, analyzes approaches to defining the concept of the financial system of a country / region and its structure; as a fundamental approach for the purposes of analyzing the stability of the financial system of the region, the approach is chosen in which the financial system of the region is considered as a set of interacting and interconnected sectors: the sector of state and municipal finance, the financial sector of the region, the regional sector of corporate and personal finance. The uneven development of individual institutions of the financial sector of the Russian Federation is shown and the main indicators of the development of the country's financial system sectors for the period 2016-2020 are analyzed. The methodological approaches of the Bank of Russia to the study of financial stability are described. The author's definition of "stability of the financial system of the region" and a set of parameters and indicators for assessing the stability of the financial system sectors of the region are proposed.

scholarly journals Donor blood wastage: a study from blood bank Chamba (H.P)

2018 ◽  
Vol 5 (7) ◽  
pp. 3016 ◽  
Author(s):  
Ishan Arora ◽  
Shairoly Singh ◽  
Shireen Singh
Keyword(s):  
Human Life ◽  
Blood Bank ◽  
Minimal Amount ◽  
Strict Adherence ◽  
Medical College ◽  
Proper Training ◽  
Set Up ◽  
One Year ◽  
Blood Bag ◽  
Good Set

Background: Blood and its components are very important for human life as there is no substitute for human blood. No major surgical procedure can be performed without the use of blood in any hospital or clinic. Ideally in a good set up, wastage of blood and blood products should never occur. The aim of this study was to assess the burden of blood wastage in our blood bank, reasons for the wastage, and to cut down blood wastage to a minimal amount by adopting new methods and techniques.Methods: A retrospective study was carried out in Department of Blood Bank of Pt. Jawaharlal Nehru Govt. Medical College, Chamba (H.P) over a time period of one year from 1st January 2017 to 31st December 2017.Results: In our study period, there were 35 discarded blood units due to various reasons forming 3.52% of total discard. Majority of units were discarded due to expiry (51.4%).Conclusions: Our study found expiry/outdated units to be most common reason for discard (51.4%). This kind of wastage may be reduced by better management of blood bag collection, storage and utilization. TTI was another significant reason for blood discard in our blood bank (14.28%). We can bring down the number of discard units by proper training and educating our blood bank staff. Strict adherence to donor selection criteria and proper past medical history should be obtained from blood donors.

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