Mumbai, Nov 4 (PTI) Vice President Hamid Ansari attributed the financial crisis enveloping the world economy to irresponsible speculative market activity, aptly described as "casino capitalism".
At the Jamnalal Bajaj awards function today, Ansari said the principal victim of "casino capitalism" everywhere was the common man.
Quoting Phillip Bobbitt, the Vice President said the market state is largely indifferent to the norms of justice, or for that matter to any particular set of moral values so long as the law does not act as an impediment to economic competition.
Jamnalal Bajaj would not have subscribed to such a depiction of the market. He imbibed and espoused the Gandhian ideal of trusteeship and reduced these to a set of rules of ethical behaviour in business, Ansari added.
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