A National Code for Business Ethics?

Would a national code of business ethics make business people more ethical? Evan Charkes has proposed such a code in the New York Law Journal. His proposal is at http://www.law.com/jsp/ihc/PubArticleIHC.jsp?id=1202429665409.

My practice includes interpreting and advising on professional codes for two professions — lawyers and accountants. Each profession has detailed codes, particularly in states like Missouri where CPAs are required to comply with the AICPA Code of Professional Ethics (available at http://www.aicpa.org/about/code/index.htm).

I am not certain that such codes make either of these professions more “ethical,” particularly in light of the high-profile problems each profession has experienced of late (Enron, tax shelters, etc.). Yet such a code certainly makes these professions more accountable. Lawyers and accountants are able to look to established authority to know what is and is not permitted. Also, members of each profession can be called out or kicked out for violating their professional standards.

Would we all feel better knowing that either those bankers did not violate the applicable standards, or they did and cannot work as bankers for several years?

When you look at it that way, I think many American taxpayers would agree that Charkes’ proposal deserves some serious consideration.

And isn’t it interesting to consider that Evan Charkes is apparently a “managing director and a deputy general counsel of Citigroup”? See http://www.bloglines.com/blog/PLL?id=12626.