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The moral foundation of collective action against economic crimes

Author

Listed:
  • Daud Vicary Abdullah

    (The Global University of Islamic Finance)

  • Hossein Askari
  • Abbas Mirakhor

    (The Global University of Islamic Finance)

Abstract

In recent years, economic and financial crimes have been increasing at a fast pace. No country, society, culture or community has been immune from its ravages, yet the international community has failed to cooperate in finding a solution. The main reason for failure may be the lack of a clearly articulated moral foundation. A universal moral principle that could serve as the foundation must be concerned with “harm” and its prevention, and attract universal “consent.” We argue that the Golden Rule satisfies these requirements. The golden rule of “no harm” buttressed by the specificity of the four categories of “generic rights” and “basic good,” i.e. human dignity, trust, contract, and property, could emerge as a consensual global moral principle and allow the development of legislations, laws, standards, codes and conventions that would be accepted and respected by the entire international community in the fight against economic crimes.

Suggested Citation

  • Daud Vicary Abdullah & Hossein Askari & Abbas Mirakhor, 2015. "The moral foundation of collective action against economic crimes," PSL Quarterly Review, Economia civile, vol. 68(272), pages 9-39.
    • Handle: RePEc:psl:pslqrr:2015:12
    as

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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/13079/12888
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    References listed on IDEAS

    as
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    5. Paulo Roberto Arvate & Andrea Zaitune Curi & Fabiana Rocha & Fabio Miessi Sanches, 2010. "Corruption and the size of government: causality tests for OECD and Latin American countries," Applied Economics Letters, Taylor & Francis Journals, vol. 17(10), pages 1013-1017.
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    7. Wilson, James Q., 1993. "The Moral Sense," American Political Science Review, Cambridge University Press, vol. 87(1), pages 1-11, March.
    8. Mr. Abbas Mirakhor & Mr. Iqbal Mehdi Zaidi, 2006. "Rethinking the Governance of the International Monetary Fund," IMF Working Papers 2006/273, International Monetary Fund.
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    Cited by:

    1. Carlo D'Ippoliti, 2015. "Introduction," PSL Quarterly Review, Economia civile, vol. 68(272), pages 3-7.

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    More about this item

    Keywords

    Economic Crimes; Golden Rule; Globalization; Moral; Foundation; Cooperation; Harm; Consent;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines

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