Trust and responsibility in the financial system: this is the theme of the 3rd international conference on ethics in finance, to be held next week at HWZ University of Applied Sciences in Business Administration Zurich. Academics, politicians and practitioners from the financial sector will present and discuss their theses on the causes, the course and the prospects of the present crisis.
Trust is one of the most critical components of financial transactions. However, trust has suffered heavily during the past years. Trust among banks, trust among states, trust in currencies such as the Euro, trust in financial products, trust in shares and public bonds: citizens and investors are alienated. How can trust be re-established? One thing is clear: it is not by trying to go back to business as usual as fast as possible.
We need to better understand the reasons, in order to be better prepared for the future. There is no use in asking who is responsible for what happened. But it is important to ask who will, and how they will take their responsibility in the future. It is most obvious that many tend to point at all the others: THEY need to do this, and shouldn’t do that. But when we talk about responsibility, it’s all about ourselves: academics, politicians and practitioners from the financial sector. We should all reflect on the mantras we have been praying for the last decades. We should be critical about what we teach, decide and deliver. There is no simple solution to the challenges of our time. So join us on Thursday and Friday, 25.-26. October at HWZ University of Applied Sciences in Business Administration Zurich, and enter the dialogue on a more stable, and more live-serving future of our financial system!