Over the past year the credit crisis has erased trillions of dollars in investor wealth. Peoples retirement funds, savings for college, and home equity have disappeared almost overnight. The economic downturn has now spread worldwide, with one country, Iceland, teetering on the edge of bankruptcy. Business executives assuredly played a part in this catastrophe.
Perhaps it is time to come up with a business version of the Hippocratic Oath, taken by doctors and medical workers. This interesting idea is the thesis of this article taken from the Economist magazine. Sound like a good idea or not. Can you think of any unintended consequences that might arise?
