Ethics in Law and Markets (20622). 3 units. This course will focus on how a society’s ethical norms and values have been reflected throughout history. Generally speaking, this course will study the validity of the hypothesis that “an economic system runs on trust, reputation, and ethics, and that any deficit in these fundamental components of capital markets and financial markets necessarily will imperil the financial system as a whole." We will discuss the evolution of views on ethics in business generally and how, if at all, the dominant ethical views in a society affect business conditions. We also will consider the way that globalization and the emergence of economic interactions among many different cultures have affected attitudes and practices related to ethics. We also will consider the future of trust, reputation and ethics in business. Attention will be paid to ethical issues within the private sector as well as in government and across society generally. Paper required. G. Fleming and J.R. Macey.