Generous Capitalism
Photo by Markus Winkler on Unsplash
Two recent articles I came across about capitalism and faith made me think about how most of us really view economic theory. For most, we hear capitalism or socialism and immediate images come to mind based on our own opinions and our own experiences. We have pre-conceived ideas whether it is good or bad, and most of us that are not economics professors or philosophy majors don’t usually consider the terms more deeply. Maybe we should, if only to more consciously integrate our faith into our work, our money, and our investing. So the question – Is Generous Capitalism possible, or is capitalism only about greed?
Eventide Funds wrote about “Generous Business: A Divine Blueprint“ in their Faith and Business series. They took up the question of whether businesses could, or perhaps should, be generous, and whether this concept for businesses fit within the concepts of capitalism and its underlying economic philosophy? The point of the article was to present information of how businesses can be generous (“Blessing Businesses”), and why that aligns with the Bible’s teachings, but it also suggests there is a conflict between being generous and capitalism. This conflict was highlighted through the main character in the article, Arthur Brooks of the American Enterprise Institute .
The article from the New York Times mentioned in the piece seemed not intended as advocating for or against capitalism, but rather about generosity and happiness. In fact, the content of Mr. Brooks article seems very much in alignment with the writings from Eventide. Here is a video of Arthur Brooks talking about “The Moral Case for Capitalism” at a QIdeas event, and in it he goes further into the alignment between his view of capitalism and his NYT op-ed.
The second article was a blog from the Institute for Faith, Work and Economics (TIFWE), called “Christian ‘Hipsterpreneurs’ Work to Redeem Capitalism” . TIFWE come from a very similar viewpoint as Arthur Brooks AEI in economic theory, and their preference for free market capitalism as the economic driver for a flourishing culture.
Each article conveys a different sentiment towards capitalism, but what I find interesting is their descriptions of what they envision as the solution are nearly identical. Even the language they use is similar.
Here is a section from the TIFWE blog:
“While Christian hipster entrepreneurs recognize a capitalistic society can create temptations toward greed and selfishness, and that it is easier for a camel to go through the eye of a needle than for a rich person to enter the kingdom of God, they see business as a God-given opportunity to love their neighbors through their work. They trust the profits will come if they work with a heart to serve others.” (“Christian ‘Hipsterpreneurs’ Work to Redeem Capitalism“, April 15, 2015)
And here is an article from Eventide’s Tim Weinhold (Director of Faith & Business) :
“… Let me have Tim Keller explain. Teaching about the watershed significance of God’s command to ‘Love your neighbor,’ Keller says, “There are only two kingdoms and each has a foundational operating principle. For the kingdom of God, that principle is Serve. For the ‘kingdom of this world,’ that principle is Be Served.” In other words, the way we fulfill or violate the ‘Love your neighbor’ First Principle of God’s moral universe is by choosing either to serve others, or to serve ourselves at others’ expense.”
“Business is meant to love and serve by creating value first and foremost for customers, employees, and its other neighbors. When it does so, people flourish . . . and so does business. But when business makes creating value for itself paramount — when it’s primary objective is earnings per share, or operating margins, or share price — it selfishly prioritizes its own success over the human flourishing that God desires. In so doing, it embraces both the Be Served principle of the enemy’s kingdom and the decay and dissolution that inevitably ensue.” (“God and Money“, Dec 8, 2014)
I suspect that TIFWE and Tim Weinhold would not see themselves as having the same opinion of capitalism. TIFWE would certainly side with AEI from a political and even economic theory foundation. But maybe TIFWE, Tim, and Arthur Brooks really are all still describing the same thing – but from different sides and preferring different names.
Someone recently said to me that he prefers the term “Kingdom Capitalism” to describe this common ground between these viewpoints. Whatever term we use, or names we use to label it, the vision and concepts are shared.
Our responsibility, and our opportunity, is to see the common ground that honors God and his creation. There doesn’t need to be a barrier between our Christian faith and capitalism as a means for all of us to flourish. It means we have to do more to integrate that faith into our work directly, resist the temptations we are drawn towards, and see the good that can multiply from it.