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The US Professes a Philosophy of High Ethical Behavior in Business

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The US professes a philosophy of high ethical behavior in business and government.How then is it that Bernard Madoff was able to turn his wealth management business into a massive Ponzi scheme? He defrauded thousands of investors of almost $65 billion over a period of time that possibly began in the 1980s.In June 2009,Madoff was sentenced to 150 years in prison,the maximum allowed.Using the Big Five Personality Dimensions,explain Madolff's personality relative to each of the dimensions.Document each with an example of each dimension.


Definitions:

Common Resources

Resources like fish stocks, forests, and clean air, which are non-excludable but rivalrous, leading to potential overuse and depletion.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they are available for everyone and one person’s use does not reduce availability to others.

Nonexcludable

A property of a good or service whereby it is not feasible to prevent people from accessing it, often leading to its consumption without directly paying for it.

Private Good

A product or service that is excludable and rivalrous, meaning its consumption by one individual prevents its use by another.

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