Epistemological foundations for the relationship between ethics and finance

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‘Even though they are specialists, financial professionals can also learn something by considering their activities in a broader intellectual context’
Ramiro de Maeztu, El sentido reverencial del dinero

Reflecting on the relationship between ethics and finance is currently an oxymoron and not just in scientific terms but also, and above all, in terms of what ordinary people think – in other words, in terms of common sense. Luckily, the most elementary common sense tells us when something is wrong, as is clear from the general public’s growing criticism of ‘the system’. In my view, the now widespread distrust of anything connected with the economy and business – let alone finance – is due to a failure in understanding these activities, and ultimately to a misunderstanding of humanity itself. Although this growing aversion leads many to dismiss theoretical reflection in favour of action, the reality is that, without appropriate theoretical foundations, practice gets lost in good intentions.

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