Is profit greed, or simply the cost of doing business in the future? Business and Economics Library Liaison Cindy Strong reviews On Moral Business: Classical and Contemporary Resources for Ethics in Economic Life.
On Moral Business: Classical and Contemporary Resources for Ethics in Economic Life
Stackhouse, M. L., McCann, D. P., & Roels, S. J. (1995). Grand Rapids, MI: Eerdmans.
As I was working on writing this review, I saw an email pop into my inbox with the title of a recent article from Salon. "Silicon Valley will destroy your job: Amazon, Facebook and our sick new economy." Intrigued, I read a bit further. The subtitle of the article by Richard (RJ) Eskow, a policy analyst, was even more intriguing: "The 'sharing economy' makes Silicon Valley rich and takes from the rest of us. We ignore this at our imminent peril."
Despite his ranting and gross generalizations about the intent of Silicon Valley executives, Eskow touches on some of the issues and questions addressed in On Moral Business. Published in 1995, On Moral Business is a 961-page compendium replete with thoughtful articles and essays that will inform your thinking on the study of business ethics, theology, and economics. Located in Seattle Pacific University's Work and Faith Collection, it covers topics such as a brief history of Christian thought on economics and business, Christian vocation in business, the emerging global economy, and much more. In compiling the anthology, the editors sought to "advance the study of business ethics and economics on several fronts at once." Despite being published almost 20 years ago, the content continues to be germane for many of the questions being asked by those working in the fields of business, ethics, economics, theology … and policy analysis.
Split into three parts -- Classical Resources, Modern Debates, and Contemporary Developments -- this text brings together writings penned by a broad range of people from various disciplines. It includes business people (M.L. Brownsberger); theologians (Stackhouse); business professors (Shirley Roels); Enlightenment theorists (Hegel); ancient philosophers (Plato); church fathers (Aquinas); church reformers (John Wesley); scholars of socialism, capitalism, and Christianity (Reinhold Niebuhr); and more.
To provide a sample of the rich content available in this anthology, I offer a short review of Max Stackhouse's essay titled "Spirituality and the Corporation." In his essay, Stackhouse, emeritus professor from Princeton Theological Seminary, offers an intriguing view of the corporation as a social entity. Introducing his essay addresses one of the purposes of the anthology, which is to discuss the moral and religious significance of the modern business corporation.
Stackhouse begins his essay by describing the corporation as a social entity. He states that, "it is a community of persons designed for efficient production that must base every decision on the question of whether or not it can continue to produce. This is determined by whether or not it is likely to reap a legal profit that will perpetuate its existence." Stackhouse then reminds readers of the religious roots of corporations. He suggests that the model emerged from the early Christian church and became "the prototype of later corporate structures of many kinds." As part of his discussion on the religious roots of corporations, Stackhouse provides the reader with a helpful distinction of how "profit" is viewed by corporations versus theologians -- decidedly different viewpoints. Profit is understood by the modern corporation to be "the estimated claim on wealth that can be used as capital for new efforts to create wealth." On the other hand, according to Stackhouse, theologians often think of profit as merely "greed and the impulse to acquisition -- indeed, the 'pursuit of gain, of money, of the greatest possible amount of money.'" He maintains that in thinking of profit as merely greed and the impulse to acquisition, theologians are missing the point.
Having offered a view of the modern corporation as a social entity with ecclesial/spiritual roots, Stackhouse finishes his essay by proposing five ways/areas in which the theological tradition can offer a helpful critique of the modern corporation:
- Vocation – The corporation should consider that, as a social institution, it has "a particular vocation from God to do what it does."
- Moral Law – In addition to profit, modern corporations should consider business activities that enhance human rights, and not just as an "add-on" under the guise of corporate social responsibility.
- Liberation – When commencing operations in the majority world (i.e., developing world/third world), corporations should consider how to liberate those who are oppressed by economic injustice.
- Sin – Corporations should keep in the forefront of their collective mind that "every act of production involves the destruction of some resources that has been given to humanity in creation."
- Covenant – Corporations should consider creating a "covenantal structure" that echoes the "ecclesiological roots of the corporation" – i.e., be committed to power sharing.
As the modern (western) corporation continues its global expansion, Stackhouse's essay is essential reading for those involved in the leadership, advising, and governing of these vital entities. Even more broadly, the issues addressed in On Moral Business, around the structure and purpose of corporations, are important ones to consider.
Maybe I should send a copy of this anthology to Eskow.