The current crisis: who is to blame?

Abstract

Purpose

This paper seeks to provide an approach to analyze the causes of the current financial crisis. Following classic guidelines of Catholic social thought, it aims to show how personal virtues may have prevented it.

Design/methodology/approach

This is a practitioner paper summarizing personal insider experience and reflection.

Findings

The current financial crisis illustrates how personal behaviors of all, as well as ambient culture, are to be blamed more than the available instruments or the system. It questions not only the financiers but also each actor of the economy in simple everyday acts.

Originality/value

The paper provides an insider perspective on the financial crisis which looks for practical solutions available without implementing external regulation.

Citation

Mortreuil, L. (2010), "The current crisis: who is to blame?", Journal of Management Development, Vol. 29 No. 7/8, pp. 646-651. https://doi.org/10.1108/02621711011059077