Corporate and Financial Leadership
Chapter 2: Intergenerational equity
Globalization lent ethicality an unprecedented momentum. Today’s most pressing social dilemmas beyond the control of single nation states call for attention to human ethicality to back governmental regulation. In a time of turning to natural law as a human-imbued moral compass for solving societal predicaments on a global scale in times of crisis, behavioral economists currently examine the human natural drive towards intergenerational fairness. Understanding the bounds of human ethicality is key to avoiding ethical downfalls on currently emerging societal dilemmas of financial social responsibility and human-made environmental decline infringing on intergenerational equity - the fairness to provide a standard of living to future generations that is at least as favorable as the one enjoyed today. Whilst evolutionarily grounded and practiced ever since, intergenerational fairness has not been attributed as a natural behavioral law – a human-imbued drive being bound by human fallibility. There is a lack of an all-round ethical decision-making anomalies frame to test the applicability of the bounded ethicality paradigm to intergenerational concerns. The potential of psychological insights to improve human intergenerational conscientiousness about financial social responsibility and environmental ethicality is underexplored.
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