Marcia’s post about the importance of teaching ethics reminded me of a Bloomberg story from a little while ago.

It’s been widely reported that today’s students have been shunning investment banks and instead have been seeking careers in Silicon Valley.  Well, according to William Dudley, president of the Federal Reserve Bank of New York, that’s not just because Silicon Valley pays more and has an aura of excitement.  In fact, it’s at least partly due to the fact that Wall Street strikes students as an unethical place to work – prompting students to seek alternative opportunities.

Obviously, that’s a problem: If the most ethical students shun Wall Street, it can only make matters worse, not better; and there is at least some evidence that the perception of corruption in finance may lead women away from those jobs, contributing to ongoing gender disparities  (not that Silicon Valley is all that much better in this regard).

There’s obviously no easy fix, but it does occur to me that one thing we need to teach students is not simply how to think ethically or make ethical choices, but also the concrete, practical skill of saying “no,” even when that means going against your friends, or your boss.  Back in my college days as a psychology major, I took classes with people like Philip Zimbardo (who specializes in group dynamics and social pressure). One of the important take-homes was that we assume that teaching students right from wrong in the abstract will be sufficient to lead them to behave in ethical ways in the future. In fact, acting on one’s ethical instincts is a distinct skill, and one that must be taught, right along with how we train students to sit quietly and be respectful and obedient to authority. Or, to put it more simply, to know the good is not to do the good; knowing is not enough.