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  • Essay / The Wolf of Wall Street: Ethics, Greed, and Corruption

    Table of ContentsIntroductionEthical Problem in The Wolf of Wall StreetKantism and Business EthicsCorruption of Morals in The Wolf of Wall StreetConclusionWorks CitedIntroductionLike Thomas Hobbes, many believe that ethics and business is not related to each other, since those who oppose business only do so for their own benefit. Greed and corruption led to the downfall of many businessmen. Greed is defined as a selfish desire to obtain personal gain such as power or wealth. In the film "The Wolf of Wall Street", directed by Martin Scorsese and the protagonist Jordan Belfort, we can see that greed and corruption can blind and manipulate the world's perception of materialism. The Wolf of Wall Street resides with a stock broker, “Jordan Belfort,” who is trying to make a living on the stock market. Soon after, he started his own business called Stratford Oakmont. His business grew very quickly and he did so by defrauding and influencing many people by manufacturing his strategies for selling penny and high volatility stocks. As his business grows, so does his greed for power. He soon finds himself in a sticky situation when the FBI begins tracking his illegal cash flows. This is how he designs a plan to launder his money on accounts abroad and hide his incrimination and that of his colleagues. History shows us that “it's all about power and wealth, if someone has it, someone else wants it” (M. Morrone, slideshow, 2016). As a result, greed is the driving force that allows someone to create an ethical dilemma for themselves and others, and this is evident in this film and in the story. This article will analyze themes such as exploitation, ethics and deception with historical references and how they relate to the concept of greed and the film The Wolf of Wall Street. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”?Get the original essayEthical Problem in The Wolf of Wall StreetAn ethical problem can be defined as: “situations in which there is a choice to be made between two options, neither of which resolves the situation in an ethically acceptable way” (Yourdictionary, 2015, para. 2). In The Wolf of Wall Street, Belfort's ethical dilemma is linked to his money laundering tactics and stock market manipulation. Stratton Oakmont collected hundreds of penny stocks and accumulated them in private accounts. Their salespeople would then actively work to grow their stock prices by appealing to people to buy those particular securities. Belfort and his associates would then sell their personal shares after the shares were inflated, earning them huge revenues. After selling their personal shares, they would collapse and those who invested would inevitably face a capital loss. This fraud was committed hundreds of times during Stratton Oakmont's reign. The main motive for Jordan Belfort's actions was greed. Although he was confronted about his practices by many close people, he morally neglected the issue and did not take it seriously. When it comes to greed, we can see in history that many such cases have occurred. In third-century Rome, we see that greed and lust for power corrupted the state. To finance the war, they took their peasants and taxed them heavily. Additionally, generals were fighting for power and all this led to the economic, social and political decline of the Roman Empire.Like the Roman Empire, Jordan Belfort fought against the federal government to "protect" his company, which ultimately led to his downfall. Jordan Belfort relates to the generals and superiors of the Roman Empire because instead of helping those who sought financial return, he exploited them with deception, just as the Romans did with their peasants. Kantianism and Business Ethics Second, Kantianism founded by Immanuel Kant, which involved the idea that decisions should be based on good will and not unethical desires. He also states that business and ethics cannot coexist because they contradict each other, which is evident in The Wolf of Wall Street. At the beginning of the film, Jordan Belfort explained his main motivator and his drug of choice. The most addictive element that drives him to achieve what he has achieved is none other than the power of the dollar. Although he had enough to retire and live a stable and lavish life, he still chose to carry out his illegal investment scandal, even though he was aware of the consequences that would follow if he got caught. History reveals similar patterns of illegal practices and manipulation aimed at generating personal wealth driven by greed and self-interest. Companies from the past, like Stratton Oakmont, Bernie Madoff Investments, and even major banks, run counter to this theory. Instead of looking out for others and helping people invest their money wisely and systematically, they either misled their customers or provided them with inaccurate financial investment vehicles. Not only did they engage in unethical practices, but they also manipulated their workers into going through with using poor investment strategies to get rich, like Jordan Belfort and his company. Additionally, Aristotle once said that “business is not moral when it aims to accumulate wealth” and Jordan Belfort undoubtedly represents this statement. Not only did he act immorally in his personal life, but he also used his business to scam many people to obtain substantial wealth, so much so that he had to hide it in foreign accounts. Corruption of Morals in The Wolf of Wall Street Finally, we can see that Jordan Belfort's greed has corrupted his morality of what trust and honesty are. The Golden Rule is a universal belief that all should follow and is accepted by the vast majority. This golden rule states that we should treat others the way we would like to be treated. This rule is not followed by Jordan Belfort, quite the contrary. Instead of being honest and providing helpful financial advice to his clients, he manipulated them and stole their money with dishonesty and betrayal. He should have run an honest and trustworthy company that took pride in giving financial advice on their investments and also helping them get a good return. His practices led to the loss of money of hundreds of honest people who could have saved for their retirement or their children's education. His outlook during his corrupt reign mimics many views in history. During the rise of feudalism, we see that soldiers and clerks had duties to perform for economic independence and spiritual and physical protection. Peasants provided labor to carry out the duties of soldiers and clerks. Instead, peasants received little or no protection and spiritual guidance during the Viking invasion. The peasants trusted those in power to keep these promises, but