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Will the Phoenix Fly Again?

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  • Mark R. Rutgers

Abstract

What kind of phenomenon is a banker's oath? The oath is a warranty added to a promise, and has a complex nature and history that is discussed. Recent research on promising is presented that indicates that there may be a desired effect on both oath taker and on the audience, even if an oath is performed reluctantly or insincerely. Based on a comparison with the oath of office, it is argued that a banker's oath is not just a professional oath sworn to peers, but rather a political oath whereby one swears to the nation. Furthermore, the oath's long history indicates possible strengths and problems with the introduction of a banker's oath. It is concluded that the moral nature of an oath has to be taken into consideration, and that it is not just a tool to try and create trust.

Suggested Citation

  • Mark R. Rutgers, 2013. "Will the Phoenix Fly Again?," Review of Social Economy, Taylor & Francis Journals, vol. 71(2), pages 249-276, June.
    • Handle: RePEc:taf:rsocec:v:71:y:2013:i:2:p:249-276
    DOI: 10.1080/00346764.2013.800306
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    Cited by:

    1. Boudewijn Bruin, 2016. "Pledging Integrity: Oaths as Forms of Business Ethics Management," Journal of Business Ethics, Springer, vol. 136(1), pages 23-42, June.
    2. Tobias Beck & Christoph Bühren & Björn Frank & Elina Khachatryan, 2020. "Can Honesty Oaths, Peer Interaction, or Monitoring Mitigate Lying?," Journal of Business Ethics, Springer, vol. 163(3), pages 467-484, May.
    3. Beck, Tobias, 2021. "How the honesty oath works: Quick, intuitive truth telling under oath," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 94(C).

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