Auditing moral hazards for post-global financial crisis (GFC) leadership
Kakabadse, A, Kouzmin, A & Kakabadse, NK 2010, 'Auditing moral hazards for post-global financial crisis (GFC) leadership', paper presented to the European Academy of Management 10th Annual Conference (EURAM10), Rome, Italy, 19-22 May.
Public policy in Neo-liberalism is fraught with crisis vulnerability. Crises, as “created” opportunities, compound the situation. Rent seeking answers the proposition in the positive. Public Choice ideological agendas and the imperial extension of such agendas into other disciplinary discourses represents the clearest, continuing danger to democratic, professional and ethical praxis (Klein, 2007; Kouzmin, 2009) over the last 35 years. From U.S. congressional “earmarks”, to “Yankee and Met owners” scams siphoning billions in public funds (Johnston, 2007), policy discourse around the world has been “high-jacked” by opportunistic Neo-liberalism. Are there any opportunities for expressions of “je regette” (Kouzmin, Sankaran, Hase and Kakabadse, 2005) for those intellectually, politically and ethically capable of critical reflection in a context of the worst abuses of managerialist abuse seen in decades. This paper seeks to deconstruct some of the hubris associated with corporate capitalism’s creation of a new financial sector based on fraud – junk debt and derivatives. How has it come to pass that that fraud has become the basis of corporate performance and leadership remuneration? Is criminal fraud the heart of global capitalism? Are “moral hazards” (economistic excuses for criminal behaviour) on behalf of self-indulgent, managerial and corporate governance systems, the way out for a criminogetic Neo-liberalism?