ABSTRACT
Aristotle’s basic principle that money has a purpose as medium of reciprocal exchange is inherently acceptable, but activities involving self generation or interest have always been judged condemnable to the fabric of society. As money becomes more and more abstract, moving from tangible to non tangible, it becomes harder to trace, quantify or justify, the distinction between transactional and speculative activity blurs. For a generation, since the mid-1980s, financial culture was driven by a belief in the power and ultimate good of the market. The fall of the Soviet Union and the creation of the European Union led to pro market, pro capitalist optimism. Financial culture implies collective pride in economic accomplishments. From the burghers in Bruges and Antwerp, to the bankers in London and New York, whether Japan, Finland, or France, wealth and financial success reflected on the prestige of the community and the nation.
