Dating a banker anon
The researchers, noting recent scandals in the banking industry regarding manipulated interest rates, rogue traders and fraud, wanted to find out “whether the business culture actually renders bank employees more dishonest, or whether more-dishonest people simply choose to work in the banking industry.”In devising the test, the researchers reminded the bankers of their professional identities before tossing the coins, a technique that is called “priming.”So one would have to wonder – and worry – if their identities as bankers had that effect on a coin toss, what about when real money was involved? Then we could use a professional oath to activate these norms.”Not so simple, I think.
A tendency to be morally soft when faced with hypotheticals can become far more serious when the temptation of a deal involving millions or an important career opportunity is at stake. Alain Cohn, who is now with the University of Chicago, suggested banks should take a page from medicine and require their own version of the Hippocratic oath. The power of the Hippocratic oath derives in part from its venerable age and universal acceptance.
As a result, academics understand they are accountable for their work, but they may overestimate the ability of other professions to be ethical.
Establishing an oath is not a bad idea, but that would have to be just the first step in an arduous and prolonged process.
Businesses that want to change their cultures to make employees more engaged and assertive are finding just how hard that is.
Moreover, he or she knows that the oath is part of what it means to be a doctor.
The two following anecdotes are probably the most telling— “This is what wrecked our relationship in the end. He was working for a big investment firm, running a kind of a hedge fund. You have made enough for us to live on for years to come. “And he’d say, I know you’re right, this job is taking over everything, I am losing you.
Give me 10 more years and I’ll never have to work another day in my life, I’ll never have to go back.
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Frankly, it is not a promising sign that this study was initiated by academics.