The Dilemma of Business Ethics

Economist cannot avoid ethical questions if they want to understand the terms of policy debate, to help determine public policies, or to select problems for study. This ethical question is more often recently because of the pressure on financial economies, especially in emerging economies, to act unethically. Often legislation is required to correct unethical business practices. As we look back we see that moralizing by itself cannot do so much. It is only when moral concerns are translated into legal demands that changes are widespread, reliable and enduring. So in this paper we try to understand the dilemma of doing business ethically and the link between business ethic and the legislation. (C) 2012 Published by Elsevier Ltd. Selection and/or peer review under responsibility of Emerging Markets Queries in Finance and Business local organization