Theodore Malloch – Doing Virtuous Business

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Boekbesprekingen, English books

Theodore Roosevelt Malloch draws an alternative to the short term driven, shareholder value centered from of capitalism. Instead of capital, labor force and land, the old means to make the economy tick, he digs into the virtues, once written by Greek scholars like Aristotle and Plato, and enriched by Christian thinkers. Whereas business leaders nowadays more and more are convinced by the role of social capital, Malloch argues that ‘spiritual capital‘ does an equally important function. Social capital and the enterprises they sustain are built up through social interaction; virtue is a part of it, to the extent that virtue is encouraged by social mores, by the praise and criticism of one’s fellows, and by the interactions whereby we learn the ways of trust. But spiritual capital, while it feeds into that process and provides it with an invaluable underpinning, is built up in another way. It comes from the relation with God. The reaching out roward God through worship, prayer, devotion, and pious observance is a specific kind of discipline, which is not the discipline of human society. Not only Christians will feel pleased to see spiritual capital, virtues practices in everyday life, and business as well. Malloch uses insights from Islam, Hinduism, Confucianism as well to redefine the free econnomy and reveal the invisible hand in Adam Smith’s groundbreaking economics work Wealth of Nations.

By conducting business according to spiritual values (faith, hope, charity, leadership, courage, patience, perseverance, discipline, justice, forgiveness, compassion, humility and gratitude) we both fulfill God’s commandments and also enhance our own and others’ prosperity. Moral and spiritual discipline makes free enterprise possible. Doing Virtuous Business explains the true purpose of business and illuminates the connection between a free economy and religious liberty. From Wal-Mart to IBM, Chicken-Fill-A to Habitat for Humanity, Malloch demonstrates how companies that operate on ethical models informed by spiritual traditions have outperformed their competitors. Thinking ahead Malloch presents answers to cynics, Christians and pragmatists. To conclude his argument the author showcases a gallery of enterprises led by virtues.