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Is Ethical Finance the Answer to the Ills of the UK Financial Market? A Post-Crisis Analysis

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  • Abdul Karim Aldohni

    (Newcastle University)

Abstract

The 2008 financial crisis exposed the dark side of the financial sector in the UK. It brought attention to the contaminated culture of the business, which accommodated the systemic malpractices that largely contributed to the financial turmoil of 2008. In the wake of the crisis there seems to be a wide consensus that this contaminated culture can no longer be accepted and needs to change. This article examines the ills of the UK financial market, more specifically the cultural contamination problem, which was uncovered by the 2008 financial crisis, in order to explore its genesis and the suitable solutions for it. In this regard, the article analyses the ethical finance sector from theoretical and practical perspectives in order to assess its role in addressing the cultural contamination problem of the UK financial market.

Suggested Citation

  • Abdul Karim Aldohni, 2018. "Is Ethical Finance the Answer to the Ills of the UK Financial Market? A Post-Crisis Analysis," Journal of Business Ethics, Springer, vol. 151(1), pages 265-278, August.
    • Handle: RePEc:kap:jbuset:v:151:y:2018:i:1:d:10.1007_s10551-016-3269-5
    DOI: 10.1007/s10551-016-3269-5
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    3. Ellinger, E.P. & Lomnicka, E. & Hare, C., 2011. "Ellinger's Modern Banking Law," OUP Catalogue, Oxford University Press, edition 5, number 9780199232093.
    4. David Hou Author-Name: David Skeie, 2013. "LIBOR: origins, economics, crisis, scandal and reform," The New Palgrave Dictionary of Economics,, Palgrave Macmillan.
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    Cited by:

    1. Hadar Gafni & Marek Hudon & Anaïs Périlleux, 2021. "Business or Basic Needs? The Impact of Loan Purpose on Social Crowdfunding Platforms," Journal of Business Ethics, Springer, vol. 173(4), pages 777-793, November.
    2. Gorgi Krlev, 2023. "Let’s Join Forces: Institutional Resilience and Multistakeholder Partnerships in Crises," Journal of Business Ethics, Springer, vol. 186(3), pages 571-592, September.

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