The Wolf of Wall Street: Ethics of Greed

Introduction

Aristotle once said that “business is not moral when pursued to accumulate wealth because the human appetite for material gain would be unlimited”. This is accurately portrayed in The Wolf of Wall Street as it displays how Wallstreet turned the protagonist of the movie; Jordan Belfort into a greedy and callous individual. This led to him committing numerous crimes related to the stock market scam. The Wolf of Wall Street depicts the ethics problem that humans come across and how greed can become a leading motivator for making money. It illustrated how gluttony, ambition and desire can entices a person to deception on the stock market.

The Wolf of Wall Street: Jordan Belfort's Story

The Wolf of Wall Street features the protagonist Jordan Belfort displaying the early days of as a Wall Street stockbroker who was introduced to the lavish lifestyle with money, power, and drugs. Belfort was then terminated due to the stock market crash resulting in Jordan starting up his own enterprise. With his alluring pitching styles and ambition, he created his own company Stratton Oakmont. The firm persuaded people to invest their money in penny stocks and other unpredictable securities. His company grew rapidly with Belfort’s scamming and misleading selling tactics. As the company grew, so did his greed. He became extremely materialist and obsessed with wealth and power. He later found himself being investigated by the FBI for his illegal cashflows which led to him laundering his money to offshore accounts to protect himself. The movie is based on the autobiography written by Jordan Belfort after his incrimination of fraud and manipulation as a stock broker.

The director of The Wolf of Wall Street is an award-winning director and producer; Martin Scorsese. Scorsese was born in 1942 and is a prominent filmmaker within the industry. He had an immediate interest in film and worked towards that goal from an early age (biography, 2018). Scorsese is known for his meticulous style of filmmaking and attention to detail as he is widely known for his various blockbuster movies such as Shutter Island, Hugo, and many more. Martin Scorsese used his experience to capture all the essential details in order to showcase the memoir of Jordan Belfort. He incorporated elements such as voice overs to effectively tell Jordan’s story so viewers would adequately understand the mind of Belfort. Overall, Martin Scorsese accomplishments speaks for itself along with his award-winning movies to prove that he is in fact a legend in the film industry.

Ethical Issues in The Wolf of Wall Street

Based on the film The Wolf of Wall Street there is clearly an ethical problem with Belfort and his company’s selling strategies. This movie outlines how greed can be the leading motivator for making money and can consume one’s urge for power. Nevertheless, Belfort actions can be seen all throughout history particularly in third century Rome. During third century Rome; greed and the desire for power was the downfall of the Romans. At the time, Rome was constantly at war with the Persians and border tribes. In order to fund the war; taxes were raised for civilians along with high inflation rates which resulted in the disruption of the middle class (Bannerman, lesson 1, Slide 46). This showed that the urge for power led to the downfall of the Roman Empire. In relation to The Wolf of Wall Street, Belfort’s greed is seen when he participated in stock market manipulations and money laundering. Workers at Stratton Oakmont would fabricate the prices of particular stocks to make them grow by getting people to buy certain securities. After the prices on the stocks would increase, workers at the firm would sell their shares which would cause the price of the stock to crash which eventually led to loss for investors. This demonstrated that greed and lust were the reasons that led to Jordan Belfort’s actions. He was never content with what he had and strive for more even when he was confronted by his close family and friends about his illegal ways. This illustrates the ethical problem with the workers and shows how greed is the major motivator for their actions. Like the Roman empire, Belfort was willing to do whatever it took to protect his company which led to both of their demise. Rather than helping those in need, both the Roman Empire and Jordan Belfort exploited people to get what they wanted.

This was a morally unethical act where instead of trying to help people, they deceived investors with falsified information. Like Bre-X Minerals, Jordan Belfort knew what he was doing was wrong but chose to do what was best for himself. Belfort participated in similar actions like Bre-X which his only concern was personal gain. In the beginning of the film, Belfort said his main motivator was “the power of the dollar”. This influenced him to continue his fraudulent practices even though, Jordan had made enough money to retire and live rather comfortably. Belfort was consumed with greed and chose undoubtedly to do the morally wrong thing; just like David Walsh and the Bre-X company. In both instances, they acted unethically to obtain substantial wealth due to their gluttony.

Conclusion

Ultimately, there were several instances in The Wolf of Wall Street where greed is the driving force to the downfall of Jordan Belfort. He was consumed with greed and the need for power made him unable to feel remorse about his actions. Belfort was aware the consequences of committing fraud and money laundering yet, he continued his actions to manipulate the stock market. Likewise, Jordan’s actions can be seen throughout history where unethical behavior were the downfall of many companies and even nations. Greed can persuade a person to do things they normally would not do which can lead to unethical behaviors that can have a catastrophic outcome. Overall, in order to stay competitive and relevant, one must be ethically responsible, and take accountability for their actions as opposed to self-interest and greediness.   

Works Cited

1. Bannerman, R. (Lesson 1, Slides 16, 46). (Year not provided). Lecture slides on ethical issues in business.
2. IMDb. (2013). The Wolf of Wall Street. Retrieved from https://www.imdb.com/title/tt0993846/
3. Biography.com Editors. (2018). Martin Scorsese Biography. Retrieved from https://www.biography.com/filmmaker/martin-scorsese