The countries with the highest ethical standards have attracted the most investment, while those with the lowest standards and with widespread corruption have received the least. In the latter environment, all members of society are losers. Business loses as the public perceives profits as ill-gotten gain, while lack of trust between business executives creates suspicion in the simplest transaction. Government and the democratic process also lose as the public's faith in institutions and the rule of law is further eroded every time the disclosure of bribe or other scandal erupts. Most importantly, ordinary people lose as the promise of democracy and the wealth that initiative could create fail to materialize.
Strong ethics are essential to businesses.
The entire free-market system is built on trust. Every time a contract is signed or a consumer purchases a product, an extension of good faith is made. If a businessman breaks his word or knowingly sells a faulty product or service, that extension of trust is broken. In looking back on my years in business, my days were filled with verbal assurances, rarely written contracts, that individuals would do what he and she they would do. And there was trust that it would be so.