It seems like it might be worth distinguishing between “this is an industry with a lot of scandalously bad behaviour” and “everything about this industry is bad”. It’s clear that the first of these is true of finance, and I bet it always was and always will be. The second is what you seem to be claiming. It doesn’t follow from the first.
The level of bad behavior is not an invariable constant over time and location, but follows from local values - the social norms that mean that some things are just not done, and secondly, the effectiveness of law enforcement against violations of formal rules. Both of those are at a depressing nadir at the present time. (in the english speaking finance world)
It seems like it might be worth distinguishing between “this is an industry with a lot of scandalously bad behaviour” and “everything about this industry is bad”. It’s clear that the first of these is true of finance, and I bet it always was and always will be. The second is what you seem to be claiming. It doesn’t follow from the first.
The level of bad behavior is not an invariable constant over time and location, but follows from local values - the social norms that mean that some things are just not done, and secondly, the effectiveness of law enforcement against violations of formal rules. Both of those are at a depressing nadir at the present time. (in the english speaking finance world)
Don’t forget incentives.