Business Morality

Archive Report

Exposure of Unlawful Business Conduct

Formation of a 26-member Business Ethics Advisory Council at a meeting of business and other leaders with Secretary of Commerce Luther H. Hodges, May 17, evidenced national concern over an apparent decline in business morality. Revelation of a far-reaching price-fixing conspiracy in the electrical equipment industry, evidence of conflict-of-interest situations involving executives of large corporations, and growth of other questionable practices had so shaken public confidence in business standards that government intervention of some kind seemed unavoidable.

It is probable that the new Advisory Council will undertake the task of drawing up a code of ethics for American business.1 Hodges wants the group to consider specific ethical problems, such as truthfulness and taste in advertising, expense account abuses, the propriety of ...

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