By: Michelle Chan
Part 1 in SPI’s Trump Financial Ethics Watch Series
Donald Trump’s Conflicts of Interest
As President Donald Trump has adjusted to his first month in the White House, a host of questions have arisen about the future of his multi-billion dollar empire during his time in the Oval Office. After all, President Trump represents something entirely new in the White House; he will be the first president to be actively involved in over 500 local and global companies (as listed on his FEC filing) with ongoing litigation against his businesses and a ...
By: Victoria Tse
Americans owe nearly $1.3 trillion in student loan debt spread out among 43 million borrowers, putting it only second behind mortgage debt as the highest level of consumer debt. To illustrate the magnitude of the student loan debt crisis, consider the following. The average Class of 2016 graduate owes $37,172 in student loan debt, up six percent from the previous year. That intimidating figure continues to rise with each graduating class incurring more debt than the preceding class. According to the Consumer Financial Protection Bureau, one in four ...
By: Rachel Thomas
Part 2 of the Valeant Pharmaceuticals Series
In a capitalist free market, the goal of business is to sell a product to satisfy demand. The company’s objective is to maximize profit, without breaking the laws of the land. This profit motive is generally accepted as a characteristic of the free market and rarely raises ethical questions. However, there are industries where social good may take precedent over profit. The pharmaceutical industry presents one instance.
The pharmaceutical industry is a unique and significant component of the international economy. It faces ethical ...
By Yucheng Lu
This case study is about Valeant Pharmaceuticals, a Canadian-based multinational pharmaceutical company. The company is under investigation for its pricing practices, which have allegedly resulted in extremely high prices on medicines in the U.S. market. Additionally, its inappropriate disclosure of inter-corporate relations alarmed investors, who are concerned about possible manipulation of the insurance system.
This case study finds Valeant’s behavior in both healthcare and equity markets to be unethical. Stakeholders should be aware of the risks associated with Valeant.
The Core Players:
The main players involved in the Valeant’s scandal are as follows.