Becoming As Ethical As We Think We Are | Morgan Hamel | TEDxYYC

Summary

The speaker reflects on the complexities of ethical decision-making, drawing on personal experiences with egg donation and the fashion industry. They recount how Andy Fastow, former CFO of Enron, viewed himself as ethical despite his role in a major scandal. The speaker's own ethical stance was challenged when faced with the need for egg donation to conceive a child. They then explore the ethical dilemmas in fashion, discussing the influence of compensation on influencers' opinions, consumers' willingness to overlook unethical practices for desirable products, and brands' tendency to 'greenwash' or make token ethical gestures. The speaker advocates for acknowledging the interplay between ethics and self-interest to make better decisions and shares their journey in founding a company that connects consumers with ethical fashion, emphasizing the importance of community and economic incentives in fostering ethical behavior.

Takeaways

• 📈 Andy Fastow, former CFO of Enron, claimed he was ethical but faced 78 counts of fraud, highlighting the complexity of ethical decision-making.
• 🏆 Fastow's story illustrates the contrast between perceived ethics and actual actions, showing that ethics can be subjective.
• 🎓 The speaker's experience with egg donation case studies in university versus personal need for it reveals the gap between theoretical ethics and real-world decisions.
• 👨‍👩‍👧‍👦 Ethics isn't always clear-cut; it's often a balance between moral principles and self-interest.
• 👗 The speaker's venture into fashion ethics through her company 'The Garment' shows the practical application of ethical considerations in business.
• 📱 Influencers can be swayed by compensation, affecting their judgment on ethical products, as seen in the Payless shoe experiment.
• 🛍️ Consumers may compromise on ethical standards when faced with attractive, affordable options, as demonstrated by the sweatshop labor study.
• 👗 Brands might engage in 'size washing', making it appear as though they are more inclusive or ethical than they actually are.
• 💸 The economics of ethics plays a role in how brands and consumers approach ethical decisions, often influenced by cost and perceived value.
• 🌐 The Garment's business model aims to make ethical fashion more accessible and affordable, addressing the economic barriers to ethical consumption.
• 👨‍👩‍👧‍👦 The speaker's personal journey with egg donation and the creation of The Garment shows that acknowledging the tension between ethics and self-interest can lead to better decisions.

Q & A

What was Andy Fastow's role at Enron and what charges did he face?

Andy Fastow was the former chief financial officer of Enron. He faced seventy-eight counts of fraud and spent six years in jail for his role in Enron's downfall.

What did Andy Fastow hold in each hand during his talk, and what did it symbolize?

Andy Fastow held a CFO of the Year trophy in one hand and a prison card in the other, symbolizing the contrast between his professional success and subsequent imprisonment due to unethical actions.

What was the ethical dilemma the speaker faced during her Master's studies at Utrecht University?

The ethical dilemma was regarding the ethics of egg donation, particularly the compensation of anonymous donors, which complicated the ethical considerations.

How did the speaker's personal experience with infertility change her perspective on egg donation?

The speaker's personal experience with infertility made her realize that ethics isn't always black-and-white, and it's challenging to maintain ethical standards when they stand between you and something you deeply desire.

What is the name of the company the speaker founded and what is its mission?

The speaker founded a company called 'the garment' with the mission to change the face of fashion by connecting women and responsible brands.

What is the role of Instagram in the new fashion economy according to the speaker?

Instagram is considered the new mall with a strong potential to be an ethical one, connecting hundreds of thousands of people interested in ethical fashion, companies who consider themselves ethical, and influencers.

What is 'size washing' as mentioned in the script?

'Size washing' refers to the practice of brands exaggerating their commitment to inclusivity in sizing, often not following through with substantial offerings in plus-size fashion.

What was the outcome of the influencer's visit to the fake luxury store filled with Payless shoes?

The influencers, swayed by the fancy store and compensation, believed the Payless shoes were of high quality and worth the high price tags, demonstrating how their judgment could be clouded.

How does the speaker suggest we can make better ethical decisions?

The speaker suggests acknowledging the tension between ethics and self-interest and diving vulnerably into the grey area to make better decisions.

What is the speaker's view on the current state of ethical fashion and what can be done to improve it?

The speaker believes that the current state of ethical fashion is discouraging due to the cycle of fast fashion continuing. However, by acknowledging the tension between ethics and self-interest and supporting businesses that make the economics of ethics work, we can improve it.

How did the speaker's experience with egg donation influence her approach to ethical decision-making?

The speaker's experience with egg donation taught her the importance of acknowledging ethical concerns and self-interest, leading her to ask robust questions about compensation and informed consent, and ultimately resulting in the birth of two daughters.