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Step on every rock killing serpents

PAGAN COIFPublished Attorney General Authority Nuances Conflict of Interest Fiduciary

Attorney General wears no clothes - too many HATS - Honor Among Thieves Systemic

http://en.wikipedia.org/wiki/Conflict_of_interest A conflict of interest (COI) occurs when an individual or organization is involved in multiple interests,one of which could possibly corrupt the motivation for an act in the other.The presence of a conflict of interest is independent from the execution of impropriety. Therefore, aconflict of interest can be discovered and voluntarily defused before any corruption occurs. A widelyused definition is: A conflict of interest is a set of circumstances that creates a risk that professional

judgment or actions regarding a primary interest will be unduly influenced by a secondaryinterest. [1] Primary interest refers to the principal goals of the profession or activity, such as the

protection of clients, the health of patients, the integrity of research, and the duties of publicoffice. Secondary interest includes not only financial gain but also such motives as the desire for

professional advancement and the wish to do favors for family and friends, but conflict of interest rulesusually focus on financial relationships because they are relatively more objective, fungible, andquantifiable. The secondary interests are not treated as wrong in themselves, but become objectionablewhen they are believed to have greater weight than the primary interests. The conflict in a conflict of interest exists whether or not a particular individual is actually influenced by the secondary interest. Itexists if the circumstances are reasonably believed (on the basis of past experience and objectiveevidence) to create a risk that decisions may be unduly influenced by secondary interests.William K. Black insists that "Conflicts of interest matter." [2] In the run up to the Savings and loancrisis of the 1980s and early 1990s, control frauds like Charles Keating were able to get legislators likeSpeaker of the House Jim Wright , the Keating Five Senators and majorities in both the US House andSenate to suppress investigations of massive criminality until their Ponzi schemes finally collapses.Only then did citizen pressure and media involvement force political action. Then regulators filedthousands of criminal referrals that translated into over a thousand felony convictions. Thecurrent foreclosure and Subprime mortgage crisis is similar to the run up to the S&L crisis with zerocriminal referrals and zero prosecutions of key finance executives. Black calls this the de factodecriminalization of elite financial fraud .[3] As with the S&L crisis, the current situation is facilitated

by conflicts of interest in the media and the US system of privately funded political campaigns .Contents

[hide ]1 Conflicts of interest related to the practice of law2 Conflicts of interest generally (unrelated to the practice of law)3 Organizational conflict of interest

4 Relationship to medical research5 Types of conflicts of interests6 Examples6.1 Environmental Hazards and Human Health6.2 Self-Policing6.3 Insurance Claims Adjusters6.4 Purchasing Agents and Sales Personnel6.5 Governmental Officials6.6 Finance Industry and Elected Officials
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nflicts_of_interestshttp://en.wikipedia.org/wiki/Conflict_of_interest#Examples%23Exampleshttp://en.wikipedia.org/wiki/Conflict_of_interest#Environmental_Hazards_and_Human_Health%23Environmental_Hazards_and_Human_Healthhttp://en.wikipedia.org/wiki/Conflict_of_interest#Self-Policing%23Self-Policinghttp://en.wikipedia.org/wiki/Conflict_of_interest#Insurance_Claims_Adjusters%23Insurance_Claims_Adjustershttp://en.wikipedia.org/wiki/Conflict_of_interest#Purchasing_Agents_and_Sales_Personnel%23Purchasing_Agents_and_Sales_Personnelhttp://en.wikipedia.org/wiki/Conflict_of_interest#Governmental_Officials%23Governmental_Officialshttp://en.wikipedia.org/wiki/Conflict_of_interest#Finance_Industry_and_Elected_Officials%23Finance_Industry_and_Elected_Officials


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6.7 Finance Industry and economists6.8 Media7 Ways to mitigate conflicts of interests7.1 Removal7.2 Disclosure7.3 Recusal

7.4 Third-party evaluations8 See also9 External links10 Further reading11 References[edit ]Conflicts of interest related to the practice of law

Professional responsibility

Duties to the client

ConfidentialityAvoiding conflict of interestDiligence and competenceAvoid comminglingAvoid self-dealingEffective assistanceAvoid fee splittingWithdrawal from representation

Duties to the court

Disclosure of perjuryDisclosure of adverse authority

Duties to the profession

Limitations on legal advertisingReport misconduct

Sources of law

ABA Model Rules

Penalties for misconduct

Disbarment Judicial misconduct

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Judicial disqualification , also referred to as recusal, refers to the act of abstaining from participation inan official action such as a legal proceeding due to a conflict of interest of the presiding courtofficial or administrative officer. Applicable statutes or canons of ethics may provide standards for
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recusal in a given proceeding or matter. Providing that the judge or presiding officer must be free fromdisabling conflicts of interest makes the fairness of the proceedings less likely to be questioned .[4]In the legal profession , the duty of loyalty owed to a client prohibits an attorney (or a law firm ) fromrepresenting any other party with interests adverse to those of a current client. The few exceptions tothis rule require informed written consent from all affected clients. In some circumstances, a conflict of interest can never be waived by a client. In perhaps the most common example encountered by the

general public, the same firm should not represent both parties in a divorce or child custody case.A prohibited or undisclosed representation involving a conflict of interest can subject an attorney todisciplinary hearings, the denial or disgorgement of legal fees, or in some cases (such as the failure tomake mandatory disclosure), criminal proceedings. In the United States , a law firm usually cannotrepresent a client if its interests conflict with those of another client, even if they have separate lawyerswithin the firm, unless (in some jurisdictions) the lawyer is segregated from the rest of the firm for theduration of the conflict. Law firms often employ software in conjunction with their case managementand accounting systems in order to meet their duties to monitor their conflict of interest exposure andto assist in obtaining waivers.[edit ]Conflicts of interest generally (unrelated to the practice of law)

Sociology

Outline

Theory History

Positivism AntipositivismFunctionalism Conflict theoryMiddle-range MathematicalCritical theory SocializationStructure and agency

Research methods

Quantitative QualitativeHistorical ComputationalEthnographic Network analytic

Topics Subfields

Cities Class Crime CultureDeviance Demography EducationEconomy Environment Family

Gender Health Industry InternetKnowledge Law Literature Medicine Politics Mobility Race andethnicity Rationalization Religion Science Secularization Socialnetworks Social psychology Stratification

Browse

PortalCategory tree ListsJournals Sociologists
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Article index

v t e

More generally, conflicts of interest can be defined as any situation in which an individual or corporation (either private or governmental) is in a position to exploit a professional or officialcapacity in some way for their personal or corporate benefit.Depending upon the law or rules related to a particular organization, the existence of a conflict of interest may not, in and of itself, be evidence of wrongdoing. In fact, for many professionals, it isvirtually impossible to avoid having conflicts of interest from time to time. A conflict of interest can,however, become a legal matter for example when an individual tries (and/or succeeds in) influencingthe outcome of a decision, for personal benefit. A director or executive of a corporation will be subjectto legal liability if a conflict of interest breaches his/her Duty of Loyalty .There often is confusion over these two situations. Someone accused of a conflict of interest may denythat a conflict exists because he/she did not act improperly. In fact, a conflict of interest can exist evenif there are no improper acts as a result of it. (One way to understand this is to use the term "conflict of roles". A person with two rolesan individual who owns stock and is also a government official, for examplemay experience situations where those two roles conflict. The conflict can be mitigated see belowbut it still exists. In and of itself, having two roles is not illegal, but the differing roles willcertainly provide an incentive for improper acts in some circumstances.)As an example, in the sphere of business and control, according to the Institute of Internal Auditors :conflict of interest is a situation in which an internal auditor , who is in a position of trust, has acompeting professional or personal interest. Such competing interests can make it difficult to fulfill hisor her duties impartially. A conflict of interest exists even if no unethical or improper act results. Aconflict of interest can create an appearance of impropriety that can undermine confidence in theinternal auditor , the internal audit activity, and the profession. A conflict of interest could impair anindividual's ability to perform his or her duties and responsibilities objectively. [5][6][edit ]Organizational conflict of interestAn organizational conflict of interest (OCI) may exist in the same way as described above, in the realmof the private sector providing services to the Government, where a corporation provides two types of services to the Government that have conflicting interest or appear objectionable (i.e.: manufacturing

parts and then participating on a selection committee comparing parts manufacturers). Corporationsmay develop simple or complex systems to mitigate the risk or perceived risk of a conflict of interest.These risks are typically evaluated by a governmental office (for example, in a US Government RFP)to determine whether the risks pose a substantial advantage to the private organization over thecompetition or will decrease the overall competitiveness in the bidding process.[edit ]Relationship to medical researchThe influence of the pharmaceutical industry on medical research has been a major cause for concern.In 2009 a study found that "a number of academic institutions" do not have clear guidelines for relationships between Institutional Review Boards and industry. [7][edit ]Types of conflicts of interestsThe following are the most common forms of conflicts of interests:Self-dealing , in which an official who controls an organization causes it to enter into a transaction withthe official, or with another organization that benefits the official. The official is on both sides of the"deal."Outside employment, in which the interests of one job contradict another.
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Family interests, in which a spouse, child, or other close relative is employed (or applies for employment) or where goods or services are purchased from such a relative or a firm controlled by arelative. For this reason, many employment applications ask if one is related to a current employee. If this is the case, the relative could then recuse from any hiring decisions. Abuse of this type of conflictof interest is called nepotism .Gifts from friends who also do business with the person receiving the gifts. (Such gifts may include

non-tangible things of value such as transportation and lodging .)Pump and dump, in which a stock broker who owns a security artificially inflates the price by"upgrading" it or spreading rumors, sells the security and adds short position , then "downgrades" thesecurity or spreads negative rumors to push the price down.Other improper acts that are sometimes classified as conflicts of interests are probably better classifiedelsewhere. Accepting bribes can be classified as corruption; almost everyone in a position of authority,

particularly public authority, has the potential for such wrongdoing. Similarly, use of government or corporate property or assets for personal use is fraud , and classifying this as a conflict of interest doesnot improve the analysis of this problem. Nor should unauthorized distribution of confidentialinformation, in itself, be considered a conflict of interest. For these improper acts, there is no inherentconflict of roles (see above), unless being a (fallible) human being rather than (say) a robot in a

position of power or authority is considered to be a conflict.COI is sometimes termed competition of interest rather than "conflict", emphasizing a connotation of natural competition between valid interests rather than violent conflict with its connotation of victimhood and unfair aggression. Nevertheless, denotatively , there is too much overlap between theterms to make any objective differentiation.[edit ]Examples[edit ]Environmental Hazards and Human HealthBaker [8] summarized 176 studies of the potential impact of Bisphenol A on human health as follows:[9]Funding Harm No Harm

Industry 0 13 (100%)

Independent (e.g.,government) 152 (86%) 11 (14%)

Lessig [10] noted that this does not mean that the funding source influenced the results. However, itdoes raise questions about the validity of the industry-funded studies specifically, because theresearchers conducting those studies have a conflict of interest; they are subject at minimum to anatural human inclination to please the people who paid for their work. Lessig provided a similar summary of 326 studies of the potential harm from cell phone usage with results that were similar butnot as stark. [11][edit ]Self-PolicingSelf-policing of any group is also a conflict of interest. If any organization, such as a corporation or

government bureaucracy, is asked to eliminate unethical behavior within their own group, it may be intheir interest in the short run to eliminate the appearance of unethical behavior, rather than the behavior itself, by keeping any ethical breaches hidden, instead of exposing and correcting them. An exceptionoccurs when the ethical breach is already known by the public. In that case, it could be in the group'sinterest to end the ethical problem to which the public has knowledge, but keep remaining breacheshidden.[edit ]Insurance Claims AdjustersInsurance companies retain claims adjusters to represent their interest in adjusting claims. It is in the

best interest of the insurance companies that the very smallest settlement is reached with its claimants.
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This $3 billion translates into $41 per household per year. This is in essence a tax collected by anongovernmental agency: It is a cost imposed on consumers by governmental decisions, but never considered in any of the standard data on tax collections.Stern notes that sugar interests contributed $2.6 million to political campaigns, representing well over $1,000 return for each $1 contributed to political campaigns. This, however, does not include the costof lobbying. Lessig [16] cites six different studies that consider the cost of lobbying with campaign

contributions on a variety of issues considered in Washington, DC. These studies produced estimatesof the anticipated return on each $1 invested in lobbying and political campaigns that ranged from $6to $220. Lessig notes that clients who pay tens of millions of dollars to lobbyists typically receive

billions.Lessig, [10] insists that this does not mean that any legislator has sold his or her vote. One of several

possible explanations Lessig gives for this phenomenon is that the money helped elect candidates moresupportive of the issues pushed by the big money spent on lobbying and political campaigns. He notesthat if any money perverts democracy, it is the large contributions beyond the budgets of citizens of ordinary means; small contributions from common citizens have long been considered supporting of democracy. [17]When such large sums become virtually essential to a politician's future, it generates a substantive

conflict of interest contributing to a fairly well documented distortion on the nation's priorities and policies.Beyond this, governmental officials, whether elected or not, often leave public service to work for companies affected by legislation they helped enact or companies they used to regulate or companiesaffected by legislation they helped enact. This practice is called the Revolving door . Former legislatorsand regulators are accused of (a) using inside information for their new employers or (b)compromising laws and regulations in hopes of securing lucrative employment in the private sector.This possibility creates a conflict of interest for all public officials whose future may depend onthe Revolving door .[edit ]Finance Industry and Elected OfficialsConflicts of interest among elected officials is part of the story behind the increase in the percent of UScorporate domestic profits captured by the finance industry depicted in that accompanying figure.

Finance as a Percent of US Domestic Corporate Profit (Finance includes banks, securities andinsurance. In 1932-1933, the total US domestic corporate profit was negative. However, the financial

sector made a profit in those years, which made its percentage negative, below 0 and off the scale inthis plot.)From 1934 through 1985, the finance industry averaged 13.8% of US domestic corporate profit.Between 1986 and 1999, it averaged 23.5%. From 2000 through 2010, it averaged 32.6%. Some of thisincrease is doubtless due to increased efficiency from banking consolidation and innovations in newfinancial products that benefit consumers. However, if most consumers had refused to accept financial

products they did not understand, e.g., negative amortization loans, the finance industry would nothave been as profitable as it has been, and the Late-2000s recession might have been avoided or

postponed. Stiglitz [18] noted that the Late-2000s recession was created in part because, "Bankers acted
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greedily because they had incentives and opportunities to do so". They did this in part by innovating tomake consumer financial products like retail banking services and home mortgages as complicated as

possible to make it easy for them to charge higher fees. Consumers who shop carefully for financialservices typically find better options than the primary offerings of the major banks. However, fewconsumers think to do that. This explains part of this increase in financial industry profits.However, a major portion of this increase and a driving force behind Late-2000s recession has been the

corrosive effect of money in politics, giving legislators and the President of the US a conflict of interest, because if they protect the public, they will offend the finance industry, which contributed$1.7 billion to political campaigns and spent $3.4 billion ($5.1 billion total) on lobbying from 1998 to2008 .[19][20] [21]To be conservative, suppose we attribute only the increase from 23.5% of 1986 through 1999 to therecent 32.6% average to governmental actions subject to conflicts of interest created by the $1.7 billionin campaign contributions. That's 9% of the $3 trillion in profits claimed by the finance industry duringthat period or $270 billion. This represents a return of over $50 for each $1 invested in politicalcampaigns and lobbying for that industry. (This $270 billion represents almost $1,000 for every many,woman and child in the US.) There is hardly any place outside of politics with such a high return oninvestment in such a short time.

[edit ]Finance Industry and economistsEconomists (unlike other professions such as sociologists) do not formally subscribe to a professionalethical code. Close to 300 economists have signed a letter urging the American EconomicAssociation (the disciplines foremost professional body), to adopt such a code. The signatoriesinclude George Akerlof , a Nobel laureate, and Christina Romer , who headed Barack Obamas Councilof Economic Advisers. [22]This call for a code of ethics was supported by the public attention the documentary Inside Job (winner of an Academy Award) drew to the consulting relationships of several influential economists. [23] Thisdocumentary focused on conflicts that may arise when economists publish results or provide publicrecommendation on topics that affect industries or companies with which they have financial links.Critics of the profession argue, for example, that it is no coincidence that financial economists, manyof whom were engaged as consultants by Wall Street firms, were opposed to regulating the financialsector. [24]In response to criticism that the profession not only failed to predict the 2007-2008 financial crisis butmay actually have helped create it, the American Economic Association has adopted new rules in2012 : economists will have to disclose financial ties and other potential conflicts of interest in papers

published in academic journals. Backers argue such disclosures will help restore faith in the profession by increasing transparency which will help in assessing economists' advice. [25][edit ]MediaAny media organization has a conflict of interest in discussing anything that may impact its ability tocommunicate as it wants with its audience. For example, the Wikimedia Foundation has a conflict of interest in discussing the Stop Online Piracy Act or any other legislation or governmental action thatcould impact its ability to deliver content to its intended audience.The business model of commercial media organizations (i.e., any that accept advertising) is selling

behavior change in their audience to advertisers. [26][27][28] However, few in their audience are awareof the conflict of interest between the profit motive and the altruistic desire to serve the public and"give the audience what it wants."Many major advertisers test their ads in various ways to measure the return on investment inadvertising. Advertising rates are set as a function of the size and spending habits of the audience asmeasured by the Nielsen Ratings . Media action expressing this conflict of interest is evident in thereaction of Rupert Murdoch , Chairman of News Corp. , owner of Fox, to changes in data collectionmethodology adopted in 2004 by the Nielsen Company to more accurately measure viewing habits.
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The results corrected a previous overestimate of the market share of Fox. Murdoch reacted by gettingleading politicians to denounce the Nielsen Ratings as racists. Susan Whiting , president and CEO of

Nielsen Media Research, responded by quietly sharing Neilsen's data with her leading critics. Thecriticism disappeared, and Fox paid Nielsen's fees .[29] Murdoch had a conflict of interest between thereality of his market and his finances.Commercial media organization lose money if they provide content that offends either their audience

or their advertisers. The substantial media consolidation that occurred since the 1980s has reduced thealternatives available to the audience, thereby making it easier for the ever larger companies in thisincreasingly oligopolistic industry to hide news and entertainment potentially offensive to advertiserswithout losing audience. If the media provide too much information on how congress spends its time, amajor advertiser could be offended and could reduce their advertising expenditures with the offendingmedia company; indeed, this is one of the ways the market system has determined which companieswon and which either went out of business or were purchased by others in this media consolidation.(Advertisers don't like to feed the mouth that bites them, and often don't. Similarly, commercial mediaorganizations are not eager to bite the hand that feeds them.) Advertisers have been known to fundmedia organizations with editorial policies they find offensive if that media outlet provides access to asufficiently attractive audience segment they cannot efficiently reach otherwise.

Election years are a major boon to commercial broadcasters, because virtually all political advertisingis purchased with minimal advance planning, paying therefore the highest rates. The commercial mediahave a conflict of interest in anything that could make it easier for candidates to get elected with lessmoney. [27]Accompanying this trend in media consolidation has been a substantial reduction in investigative

journalism ,[27] reflecting this conflict of interest between the business objectives of the commercialmedia and the public's need to know what government is doing in their name. This change has beentied to substantial changes in law and culture in the US. To cite only one example, researchers havetied this decline in investigative journalism to an increased coverage of the "police blotter". [30] Thishas further been tied to the fact that the United States has the highest incarceration rate in the world .Beyond this, virtually all commercial media companies own substantial quantities of copyrightedmaterial. This gives them an inherent conflict of interest in any public policy issue affectingcopyrights. McChesney noted that the commercial media have lobbied successfully for changes incopyright law that have led "to higher prices and a shrinking of the marketplace of ideas", increasingthe power and profits of the large media corporations at public expense. One result of this is that "the

people cease to have a means of clarifying social priorities and organizing social reform". [31] A freemarket has a mechanism for controlling abuses of power by media corporations: If their censorship

becomes too egregious, they lose audience, which in turn reduces their advertising rates. However, theeffectiveness of this mechanism has been substantially reduced over the past quarter century by "thechanges in the concentration and integration of the media." [32] Would the Anti-Counterfeiting TradeAgreement have advanced to the point of generating substantial protests without the secrecy behindwhich that agreement was negotiatedand would the government attempts to sustain that secrecy have

been as successful if the commercial media had not been a primary beneficiary and had not had aconflict of interest in suppressing discussion thereof?[edit ]Ways to mitigate conflicts of interests[edit ]RemovalThe best way to handle conflicts of interests is to avoid them entirely. For example, someone elected to

political office might sell all corporate stocks that they own before taking office, and resign from allcorporate boards. Or that person could move their corporate stocks to a special trust, which would beauthorized to buy and sell without disclosure to the owner. (This is referred to as a " blind trust ".) Withsuch a trust, since the politician does not know in which companies they have investments, thereshould be no temptation to act to their advantage.
http://en.wikipedia.org/wiki/Fox_Broadcasting_Companyhttp://en.wikipedia.org/wiki/Fox_Broadcasting_Companyhttp://en.wikipedia.org/wiki/Fox_Broadcasting_Companyhttp://en.wikipedia.org/wiki/Rupert_Murdochhttp://en.wikipedia.org/wiki/Rupert_Murdochhttp://en.wikipedia.org/wiki/Nielsen_Ratingshttp://en.wikipedia.org/wiki/Nielsen_Ratingshttp://www.susan-whiting.com/http://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-28%23cite_note-28http://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-28%23cite_note-28http://en.wikipedia.org/wiki/Oligopolyhttp://en.wikipedia.org/wiki/Oligopolyhttp://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-ProblemMedia-26%23cite_note-ProblemMedia-26http://en.wikipedia.org/wiki/Investigative_journalismhttp://en.wikipedia.org/wiki/Investigative_journalismhttp://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-ProblemMedia-26%23cite_note-ProblemMedia-26http://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-29%23cite_note-29http://en.wikipedia.org/wiki/Incarceration_in_the_United_Stateshttp://en.wikipedia.org/wiki/Incarceration_in_the_United_Stateshttp://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-30%23cite_note-30http://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-31%23cite_note-31http://en.wikipedia.org/wiki/Anti-Counterfeiting_Trade_Agreementhttp://en.wikipedia.org/wiki/Anti-Counterfeiting_Trade_Agreementhttp://en.wikipedia.org/wiki/Anti-Counterfeiting_Trade_Agreement#Protestshttp://en.wikipedia.org/wiki/Anti-Counterfeiting_Trade_Agreement#Protestshttp://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=15http://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=16http://en.wikipedia.org/wiki/Stockhttp://en.wikipedia.org/wiki/Blind_trusthttp://en.wikipedia.org/wiki/Temptationhttp://en.wikipedia.org/wiki/Temptationhttp://en.wikipedia.org/wiki/Fox_Broadcasting_Companyhttp://en.wikipedia.org/wiki/Rupert_Murdochhttp://en.wikipedia.org/wiki/Nielsen_Ratingshttp://www.susan-whiting.com/http://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-28%23cite_note-28http://en.wikipedia.org/wiki/Oligopolyhttp://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-ProblemMedia-26%23cite_note-ProblemMedia-26http://en.wikipedia.org/wiki/Investigative_journalismhttp://en.wikipedia.org/wiki/Investigative_journalismhttp://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-ProblemMedia-26%23cite_note-ProblemMedia-26http://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-29%23cite_note-29http://en.wikipedia.org/wiki/Incarceration_in_the_United_Stateshttp://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-30%23cite_note-30http://en.wikipedia.org/wiki/Conflict_of_interest#cite_note-31%23cite_note-31http://en.wikipedia.org/wiki/Anti-Counterfeiting_Trade_Agreementhttp://en.wikipedia.org/wiki/Anti-Counterfeiting_Trade_Agreementhttp://en.wikipedia.org/wiki/Anti-Counterfeiting_Trade_Agreement#Protestshttp://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=15http://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=16http://en.wikipedia.org/wiki/Stockhttp://en.wikipedia.org/wiki/Blind_trusthttp://en.wikipedia.org/wiki/Temptation


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[edit ]DisclosureCommonly, politicians and high-ranking government officials are required to disclose financialinformation - assets such as stock, debts such as loans , and/or corporate positions held, typicallyannually. To protect privacy (to some extent), financial figures are often disclosed in ranges such as"$100,000 to $500,000" and "over $2,000,000".Certain professionals are required either by rules related to their professional organization, or

by statute , to disclose any actual or potential conflicts of interest. In some instances, the failure to provide full disclosure is a crime.[edit ]RecusalThose with a conflict of interest are expected to recuse themselves from (i.e., abstain from) decisionswhere such a conflict exists. The imperative for recusal varies depending upon the circumstance and

profession, either as common sense ethics, codified ethics, or by statute . For example, if the governing board of a government agency is considering hiring a consulting firm for some task, and one firm being considered has, as a partner, a close relative of one of the board's members, then that boardmember should not vote on which firm is to be selected. In fact, to minimize any conflict, the boardmember should not participate in any way in the decision, including discussions.Judges are supposed to recuse themselves from cases when personal conflicts of interest may arise. For

example, if a judge has participated in a case previously in some other judicial role he/she is notallowed to try that case. Recusal is also expected when one of the lawyers in a case might be a close personal friend, or when the outcome of the case might affect the judge directly, such as whether a car maker is obliged to recall a model that a judge drives. This is required by law under Continental civillaw systems and by the Rome Statute , organic law of the International Criminal Court .[edit ]Third-party evaluationsConsider a situation where the owner of a majority of a publicly held corporation decides to buy outthe minority shareholders and take the corporation private. What is a fair price? Obviously it isimproper (and, typically, illegal) for the majority owner to simply state a price and then have the(majority-controlled) board of directors approve that price. What is typically done is to hire anindependent firm (a third party), well-qualified to evaluate such matters, to calculate a "fair price",which is then voted on by the minority shareholders.Third-party evaluations may also be used as proof that transactions were, in fact, fair ("arm's-length").For example, a corporation that leases an office building that is owned by the CEO might get anindependent evaluation showing what the market rate is for such leases in the locale, to address theconflict of interest that exists between the fiduciary duty of the CEO (to the stockholders, by gettingthe lowest rent possible) and the personal interest of that CEO (to maximize the income that the CEOgets from owning that office building by getting the highest rent possible).conclusion Generally, forbid conflicts of interests. Often, however, the specifics can be controversial.Should therapists , such as psychiatrists , be allowed to have extra-professional relations with patients,or ex-patients? Should a faculty member be allowed to have an extra-professional relationship with astudent, and should that depend on whether the student is in a class of, or being advised by, the facultymember?Codes of ethics help to minimize problems with conflicts of interests because they can spell out theextent to which such conflicts should be avoided, and what the parties should do where such conflictsare permitted by a code of ethics (disclosure, recusal , etc.). Thus, professionals cannot claim that theywere unaware that their improper behavior was unethical. As importantly, the threat of disciplinaryaction (for example, a lawyer being disbarred ) helps to minimize unacceptable conflicts or improper acts when a conflict is unavoidable.As codes of ethics cannot cover all situations, some governments have established an office of theethics commissioner . Ethics commissioner should be appointed by the legislature and should report tothe legislature.
http://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=17http://en.wikipedia.org/wiki/Debthttp://en.wikipedia.org/wiki/Debthttp://en.wikipedia.org/wiki/Loanhttp://en.wikipedia.org/wiki/Loanhttp://en.wikipedia.org/wiki/Statutehttp://en.wikipedia.org/wiki/Statutehttp://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=18http://en.wikipedia.org/wiki/Judicial_disqualificationhttp://en.wikipedia.org/wiki/Statutehttp://en.wikipedia.org/wiki/Judgehttp://en.wikipedia.org/wiki/Judgehttp://en.wikipedia.org/wiki/Civil_law_(legal_system)http://en.wikipedia.org/wiki/Civil_law_(legal_system)http://en.wikipedia.org/wiki/Rome_Statutehttp://en.wikipedia.org/wiki/International_Criminal_Courthttp://en.wikipedia.org/wiki/International_Criminal_Courthttp://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=19http://en.wikipedia.org/wiki/Board_of_directorshttp://en.wikipedia.org/wiki/Board_of_directorshttp://en.wikipedia.org/wiki/CEOhttp://en.wikipedia.org/wiki/CEOhttp://en.wikipedia.org/wiki/Psychotherapyhttp://en.wikipedia.org/wiki/Psychotherapyhttp://en.wikipedia.org/wiki/Psychiatristhttp://en.wikipedia.org/wiki/Psychiatristhttp://en.wikipedia.org/wiki/Judicial_disqualificationhttp://en.wikipedia.org/w/index.php?title=Disciplinary_action&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Disciplinary_action&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Disciplinary_action&action=edit&redlink=1http://en.wikipedia.org/wiki/Lawyerhttp://en.wikipedia.org/wiki/Disbarhttp://en.wikipedia.org/w/index.php?title=Office_of_the_ethics_commissioner&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Office_of_the_ethics_commissioner&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Office_of_the_ethics_commissioner&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Ethics_commissioner&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Ethics_commissioner&action=edit&redlink=1http://en.wikipedia.org/wiki/Legislaturehttp://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=17http://en.wikipedia.org/wiki/Debthttp://en.wikipedia.org/wiki/Loanhttp://en.wikipedia.org/wiki/Statutehttp://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=18http://en.wikipedia.org/wiki/Judicial_disqualificationhttp://en.wikipedia.org/wiki/Statutehttp://en.wikipedia.org/wiki/Judgehttp://en.wikipedia.org/wiki/Civil_law_(legal_system)http://en.wikipedia.org/wiki/Civil_law_(legal_system)http://en.wikipedia.org/wiki/Rome_Statutehttp://en.wikipedia.org/wiki/International_Criminal_Courthttp://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=19http://en.wikipedia.org/wiki/Board_of_directorshttp://en.wikipedia.org/wiki/CEOhttp://en.wikipedia.org/wiki/Psychotherapyhttp://en.wikipedia.org/wiki/Psychiatristhttp://en.wikipedia.org/wiki/Judicial_disqualificationhttp://en.wikipedia.org/w/index.php?title=Disciplinary_action&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Disciplinary_action&action=edit&redlink=1http://en.wikipedia.org/wiki/Lawyerhttp://en.wikipedia.org/wiki/Disbarhttp://en.wikipedia.org/w/index.php?title=Office_of_the_ethics_commissioner&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Office_of_the_ethics_commissioner&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Ethics_commissioner&action=edit&redlink=1http://en.wikipedia.org/wiki/Legislature


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[edit ]See alsoCommunity of interestCrony capitalismElectoral fraudFiduciaryInsider trading

Intra-household bargainingJudicial disqualificationJury nullificationLobbyingMedical ethicsMoney loopMoral hazardPerverse incentivePoliticsRecusalRevolving door (politics)

Tax resistanceUnited States Office of Government EthicsControversies surrounding Silvio Berlusconi[edit ]External linksThacker, Paul D. (November 2006). "Environmental journals feel pressure to adopt disclosurerules". Environmental Science & Technology 40 (22): 68736875 .doi:10.1021/es062808a .McDonald, Michael. "Ethics and Conflict of Interest" . W. Maurice Young Centre for Applied Ethics.Archived from the original on 2007-11-03.[edit ]Further readingBlack, William K. (2005). The Best Way to Rob a Bank Is to Own One. Austin, TX: University of Texas Press . ISBN 0-292-72139-0 .Davis, Michael; Andrew Stark (2001). Conflict of interest in the professions. Oxford : OxfordUniversity Press . ISBN 0-19-512863-X .Lessig, Lawrence (2011). Republic, Lost: How Money Corrupts Congress -- and a Plan to Stop It.Twelve. ISBN 978-0-446-57643-7 .Lo, Bernard; Marilyn J. Field (2009). Conflict of Interest in Medical Research, Education, andPractice. Washington DC : National Academies Press . ISBN 978-0-309-13188-9 .Porter, Roger J.; Thomas E. Malone (1992). Biomedical research: collaboration and conflict of interest. Baltimore : Johns Hopkins University Press . ISBN 0-8018-4400-2 .Thompson, Dennis (1995). Ethics in Congress: From Individual to InstitutionalCorruption. Washington DC : Brookings Institution Press . ISBN 0-8157-8423-6 .Thompson, Dennis (1993). "Understanding financial conflicts of interest." New England Journal of Medicine 329 (8): 573-76. [edit ]References^ Lo and Field (2009). The definition originally appeared in Thompson (1993).^ Black (2005, pp. 253-254)^ Black, William K. (Dec. 28, 2010). "2011 Will Bring More De facto Decriminalization of EliteFinancial Fraud" . Next New Deal: Blog of the Roosevelt Institute. Black, William K. (20 August2012). "Black Report: No Criminal Prosecution of Wall St. and Who is the European, Romney or Obama?" . The Real News.com. Retrieved Sept. 9, 2012.^ a b Lessig 2011, pp. 29-32^ "1120-Individual Objectivity" . Institute of Internal Auditors. Retrieved July 7, 2011.
http://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=20http://en.wikipedia.org/wiki/Community_of_interesthttp://en.wikipedia.org/wiki/Crony_capitalismhttp://en.wikipedia.org/wiki/Electoral_fraudhttp://en.wikipedia.org/wiki/Fiduciaryhttp://en.wikipedia.org/wiki/Insider_tradinghttp://en.wikipedia.org/wiki/Intra-household_bargaininghttp://en.wikipedia.org/wiki/Judicial_disqualificationhttp://en.wikipedia.org/wiki/Jury_nullificationhttp://en.wikipedia.org/wiki/Lobbyinghttp://en.wikipedia.org/wiki/Medical_ethicshttp://en.wikipedia.org/wiki/Money_loophttp://en.wikipedia.org/wiki/Moral_hazardhttp://en.wikipedia.org/wiki/Perverse_incentivehttp://en.wikipedia.org/wiki/Politicshttp://en.wikipedia.org/wiki/Recusalhttp://en.wikipedia.org/wiki/Revolving_door_(politics)http://en.wikipedia.org/wiki/Tax_resistancehttp://en.wikipedia.org/wiki/United_States_Office_of_Government_Ethicshttp://en.wikipedia.org/wiki/Controversies_surrounding_Silvio_Berlusconihttp://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=21http://en.wikipedia.org/wiki/Paul_D._Thackerhttp://en.wikipedia.org/wiki/Environmental_Science_%26_Technologyhttp://en.wikipedia.org/wiki/Environmental_Science_%26_Technologyhttp://en.wikipedia.org/wiki/Digital_object_identifierhttp://en.wikipedia.org/wiki/Digital_object_identifierhttp://dx.doi.org/10.1021%2Fes062808ahttp://web.archive.org/web/20071103060225/http:/www.ethics.ubc.ca/people/mcdonald/conflict.htmhttp://www.ethics.ubc.ca/people/mcdonald/conflict.htmhttp://www.ethics.ubc.ca/people/mcdonald/conflict.htmhttp://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=22http://en.wikipedia.org/wiki/William_K._Blackhttp://en.wikipedia.org/wiki/University_of_Texas_Presshttp://en.wikipedia.org/wiki/University_of_Texas_Presshttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/Special:BookSources/0-292-72139-0http://en.wikipedia.org/wiki/Oxfordhttp://en.wikipedia.org/wiki/Oxfordhttp://en.wikipedia.org/wiki/Oxfordhttp://en.wikipedia.org/wiki/Oxford_University_Presshttp://en.wikipedia.org/wiki/Oxford_University_Presshttp://en.wikipedia.org/wiki/Oxford_University_Presshttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/Special:BookSources/0-19-512863-Xhttp://en.wikipedia.org/wiki/Lawrence_Lessighttp://en.wikipedia.org/wiki/Lawrence_Lessighttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/Special:BookSources/978-0-446-57643-7http://en.wikipedia.org/wiki/Washington_DChttp://en.wikipedia.org/wiki/National_Academies_Presshttp://en.wikipedia.org/wiki/National_Academies_Presshttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/Special:BookSources/978-0-309-13188-9http://en.wikipedia.org/wiki/Special:BookSources/978-0-309-13188-9http://en.wikipedia.org/wiki/Baltimorehttp://en.wikipedia.org/wiki/Johns_Hopkins_University_Presshttp://en.wikipedia.org/wiki/Johns_Hopkins_University_Presshttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/Special:BookSources/0-8018-4400-2http://en.wikipedia.org/wiki/Special:BookSources/0-8018-4400-2http://en.wikipedia.org/wiki/Washington_DChttp://en.wikipedia.org/wiki/Brookings_Institution_Presshttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/Special:BookSources/0-8157-8423-6http://en.wikipedia.org/wiki/Special:BookSources/0-8157-8423-6http://www.nejm.org/doi/full/10.1056/NEJM199308193290812http://www.nejm.org/doi/full/10.1056/NEJM199308193290812http://www.nejm.org/doi/full/10.1056/NEJM199308193290812http://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=23http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-0%23cite_ref-0http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-0%23cite_ref-0http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-1%23cite_ref-1http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-1%23cite_ref-1http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-2%23cite_ref-2http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-2%23cite_ref-2http://en.wikipedia.org/wiki/William_K._Blackhttp://en.wikipedia.org/wiki/William_K._Blackhttp://www.nextnewdeal.net/2011-will-bring-more-de-facto-decriminalization-elite-financial-fraudhttp://www.nextnewdeal.net/2011-will-bring-more-de-facto-decriminalization-elite-financial-fraudhttp://www.nextnewdeal.net/2011-will-bring-more-de-facto-decriminalization-elite-financial-fraudhttp://en.wikipedia.org/wiki/William_K._Blackhttp://en.wikipedia.org/wiki/William_K._Blackhttp://therealnews.com/t2/index.php?option=com_content&task=view&id=767&Itemid=74&jumival=8713http://therealnews.com/t2/index.php?option=com_content&task=view&id=767&Itemid=74&jumival=8713http://therealnews.com/t2/index.php?option=com_content&task=view&id=767&Itemid=74&jumival=8713http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-RepublicLost_3-0%23cite_ref-RepublicLost_3-0http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-RepublicLost_3-1%23cite_ref-RepublicLost_3-1http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-RepublicLost_3-1%23cite_ref-RepublicLost_3-1http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-theiia_coi_definition_4-0%23cite_ref-theiia_coi_definition_4-0http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-theiia_coi_definition_4-0%23cite_ref-theiia_coi_definition_4-0http://www.theiia.org/guidance/standards-and-guidance/ippf/standards/standards-items/?i=8244http://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=20http://en.wikipedia.org/wiki/Community_of_interesthttp://en.wikipedia.org/wiki/Crony_capitalismhttp://en.wikipedia.org/wiki/Electoral_fraudhttp://en.wikipedia.org/wiki/Fiduciaryhttp://en.wikipedia.org/wiki/Insider_tradinghttp://en.wikipedia.org/wiki/Intra-household_bargaininghttp://en.wikipedia.org/wiki/Judicial_disqualificationhttp://en.wikipedia.org/wiki/Jury_nullificationhttp://en.wikipedia.org/wiki/Lobbyinghttp://en.wikipedia.org/wiki/Medical_ethicshttp://en.wikipedia.org/wiki/Money_loophttp://en.wikipedia.org/wiki/Moral_hazardhttp://en.wikipedia.org/wiki/Perverse_incentivehttp://en.wikipedia.org/wiki/Politicshttp://en.wikipedia.org/wiki/Recusalhttp://en.wikipedia.org/wiki/Revolving_door_(politics)http://en.wikipedia.org/wiki/Tax_resistancehttp://en.wikipedia.org/wiki/United_States_Office_of_Government_Ethicshttp://en.wikipedia.org/wiki/Controversies_surrounding_Silvio_Berlusconihttp://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=21http://en.wikipedia.org/wiki/Paul_D._Thackerhttp://en.wikipedia.org/wiki/Environmental_Science_%26_Technologyhttp://en.wikipedia.org/wiki/Digital_object_identifierhttp://dx.doi.org/10.1021%2Fes062808ahttp://web.archive.org/web/20071103060225/http:/www.ethics.ubc.ca/people/mcdonald/conflict.htmhttp://www.ethics.ubc.ca/people/mcdonald/conflict.htmhttp://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=22http://en.wikipedia.org/wiki/William_K._Blackhttp://en.wikipedia.org/wiki/University_of_Texas_Presshttp://en.wikipedia.org/wiki/University_of_Texas_Presshttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/Special:BookSources/0-292-72139-0http://en.wikipedia.org/wiki/Oxfordhttp://en.wikipedia.org/wiki/Oxford_University_Presshttp://en.wikipedia.org/wiki/Oxford_University_Presshttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/Special:BookSources/0-19-512863-Xhttp://en.wikipedia.org/wiki/Lawrence_Lessighttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/Special:BookSources/978-0-446-57643-7http://en.wikipedia.org/wiki/Washington_DChttp://en.wikipedia.org/wiki/National_Academies_Presshttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/Special:BookSources/978-0-309-13188-9http://en.wikipedia.org/wiki/Baltimorehttp://en.wikipedia.org/wiki/Johns_Hopkins_University_Presshttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/Special:BookSources/0-8018-4400-2http://en.wikipedia.org/wiki/Washington_DChttp://en.wikipedia.org/wiki/Brookings_Institution_Presshttp://en.wikipedia.org/wiki/International_Standard_Book_Numberhttp://en.wikipedia.org/wiki/Special:BookSources/0-8157-8423-6http://www.nejm.org/doi/full/10.1056/NEJM199308193290812http://www.nejm.org/doi/full/10.1056/NEJM199308193290812http://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=23http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-0%23cite_ref-0http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-1%23cite_ref-1http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-2%23cite_ref-2http://en.wikipedia.org/wiki/William_K._Blackhttp://www.nextnewdeal.net/2011-will-bring-more-de-facto-decriminalization-elite-financial-fraudhttp://www.nextnewdeal.net/2011-will-bring-more-de-facto-decriminalization-elite-financial-fraudhttp://en.wikipedia.org/wiki/William_K._Blackhttp://therealnews.com/t2/index.php?option=com_content&task=view&id=767&Itemid=74&jumival=8713http://therealnews.com/t2/index.php?option=com_content&task=view&id=767&Itemid=74&jumival=8713http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-RepublicLost_3-0%23cite_ref-RepublicLost_3-0http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-RepublicLost_3-1%23cite_ref-RepublicLost_3-1http://en.wikipedia.org/wiki/Conflict_of_interest#cite_ref-theiia_coi_definition_4-0%23cite_ref-theiia_coi_definition_4-0http://www.theiia.org/guidance/standards-and-gu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^ "Policies & Procedures of the Internal Audit Activity" . City College of San Francisco. Retrieved July7, 2011.^ Policies regarding IRB members' industry relationships often lacking .^ Baker, Nena (2008). The Body Toxic . North Point Press. p. 142. [cited from Lessig 2011, p. 25 Laysummary].^ Fisher's exact test computed using the fisher.test function in R (programming language) returned a

significance probability of 2e-13, i.e., there are 200 chances in a million billion of getting a table asextreme as this with the given marginals by chance alone. In other words, it is not credible to claimthat the funding source has no impact on the outcome of this many independent studies.^ a b Lessig 2011^ Lessig 2011, pp. 26-28^ Painter, Richard (2009), Getting the Government America Deserves: How Ethics Reform Can Makea Difference Oxford University Press 978-0-19-537871-9^ Thompson (1995)^ Kerr, Robert S. "Senator Kerr Talks about Conflict of Interest," US News and World Report,September 3, 1962, p. 86.^ Stern, Philip M. (1992). Still the Best Congress Money Can Buy. Regnery Gatgeway. pp. 168176.

^ Lessig 2011, pp. 43-52, 117^ Lessig 2011, pp. 120-121^ Stiglitz, Joseph E. (2010). Freefall: America, Free Markets, and the Shrinking of the WorldEconomy. Norton. pp. 56.^ Lessig 2011, p. 83^ Sachs, Jeffrey D. (2011). The Price of Civilization: Reawakening American Virtue and Prosperity.Random House. ISBN 978-0-679-60502-7 .^ Reinhart, Carmen M. ; Rogoff, Kenneth S. (2009). This Time Is Different: Eight Centuries of Financial Folly. Princeton University Press. ISBN 978-0-691-15264-6 .^ Letters from 300 economists to the American Economic Association , 3 January 2011.]^ Wall Street Journal, Stung by 'Inside Job,' economists pen a code of ethics, 12 October 2011. ^ The Economist, Dismal ethics, An intensifying debate about the case for a professional code of ethicsfor economists, 6 January 2011.^ Wall Street Journal, Economists set rules on ethics, 9 January 2012.^ Herman, Edward S. ; Chomsky, Noam (1988). Manufacturing Consent: The Political Economy of theMass Media . Pantheon. ISBN 0-394-54926-0 . Retrieved 2012-02-09.^ a b c McChesney, Robert W. (2004). The Problem of the Media: U.S. Communication Politics in the21st Century . Monthly Review Press. ISBN 1-58367-105-6 . Retrieved 2012-02-09.^ McCheney, Robert W. (2008). The Political Economy of the Media: Enduring Issues, EmergingDilemmas . Monthly Review Press. ISBN 978-1-58367-161-0 .^ Bianco, Anthony; Grover, Ronald (September 20, 2004), "How Nielsen Stood Up toMurdoch" , Business Week ^ [|Potter, Gary W. ]; [|Kappeler, Victor E. ], eds. (1998). Constructing Crime: Perspectives on Making

News and Social Problems . Waveland Press. ISBN 0-88133-984-9 . Retrieved 2012-02-09.^ McChesney, Robert W. (2008). The Political Economy of the Media: Enduring Issues, EmergingDilemas. Monthly Review Pr.. pp. 335337. ISBN 978-1-58367-161-0 .^ Lessig, Lawrence (2004). Free Culture . pp. 162ff. ISBN 978-1-59420-006-9 .Categories :Political corruptionLegal ethics
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