The values behind market capitalism

 
As a strategic partner of the WEF, PwC provides State of the Debate briefing papers on the themes and agenda set by the World Economic Forum for the Annual Meeting at Davos. Offered to participants that include relevant decision-makers from government, business and civil society, these papers are designed to help jumpstart a discussion to address global, regional and industry priorities shared by all stakeholders.

For millions of people, the global economic crisis has shattered confidence in the fundamental principles of free-market democracies-testing their faith, not only in free-market economics, but in democratic politics and the ethics of a secular, capitalist society. The ideals of free-market capitalism seem out of touch with today's reality. If the workings of the market lead to unpredictable, spectacular crashes, many feel, then markets may not be a morally justifiable forum for addressing social risks.

As the morality of business conduct has never been so much in doubt, the ethics of business has never been more important.

Contacts

Sophie Lambin
PricewaterhouseCoopers
Director, Global thought leadership

Mike Davies
PricewaterhouseCoopers
Director, Global communications



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