Let me start with two examples: A few years ago, one of the largest German public banks agreed on a new code of conduct for a better, more ethical culture in the company. Shortly before that time, prosecutors had started an investigation against one of the bank's top managers, which eventually resulted in an 8 years prison sentence on the charge of corruption. Would this manager's criminal energy have been reined in by an ethics code? Most probably not.
At roughly the same time, after a large...
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