The reason we have regulations for most of the activities in buying and selling is that we cannot be trusted always to do the right thing, writes Dorothy Rowe in ‘Why We Lie’ (www.4thestate.co.uk). Not that all of us are dishonest, but we do tend to get carried away by our ideas, especially where our greed, vanity and fear are involved, she adds.
Looking back at the recent financial crisis, the author wonders if Alan Greenspan – who had spent the most important part of his working life with men who had power, influence and money, men who took great pride in their power and position – had not seen them behave recklessly, without regard to the welfare of others, or to the possibility of an adverse outcome; or, had not been aware of the corrupting influence of power.
Or, had he never looked inside himself and used what he found there to understand other people, she asks. “Had he done so, he would have known that to trust men whose sole purpose in life is to make money always to behave honourably is as sensible as to swim with a great white shark and trust it not to eat you. Can it be true that, if Alan Greenspan had applied his intelligence to understanding himself, we would not have had this global financial crisis?”
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