The current financial crisis is one rooted not in recent deregulation but in the breaking of ancient (religious) laws, and this crisis is one of many ethical problems today that have religious roots. The tone of this essay is informed by a document from the World Council of Churches, which affirms "greed as violence" and that Christians do not have all the answers to the problem of greed; therefore, Christians need to seek solutions with other religious communities. Furthermore, (...) religious leaders, theologians, and ethicists, by their very station in life, are not able to effectively listen to the voices of the poor and marginalized people of the world. Self-critically examining the mainstream traditions within Christianity for its allegiance to empires, the article calls for engaging the alternative, rather than the mainstream traditions within religions whose interpretations of Scripture have provided insights that are at variance with the mainstream. It calls those who engage in this work to be double-headed: to examine others' beliefs from the perspective of the other—while continuing to be rooted in one's own center—and to recognize that the voices of those in poor or marginalized communities are inaccessible, unless those who are poor themselves become the mediators of dialogue. (shrink)

This essay argues that the proffered grounds for Cohen's rejection of market relations – that they are sustained by the base motives of greed and fear – are unsound and also unnecessary to explain the maximising behaviour induced by those relations.

Greed is one of the most common features of human nature, and it has recently attracted increasing research interest. The aims of this paper are to provide one of the first empirical investigations of the effects of greed on job performance and to explore the mediating role of the need for social status and perceived distributive justice. Using a working sample (N = 315) from China, the current study found that greed promoted both task and contextual performance (...) through the intermediary effect of the need for social status. At the same time, greed inhibited both types of performance through perceived distributive justice. These results confirmed our hypothesis that greed is a double-edged sword with opposite effects on one’s performance. The findings suggest that organizations should both address greedy employees’ social status concerns and ensure that they are treated fairly so that organizations can fully utilize the talents of greedy people and channel their energy in a beneficial direction. (shrink)

In this original and rewarding combination of intellectual and political history, Ryan Balot offers a thorough historical and sociological interpretation of classical Athens centered on the notion of greed. Integrating ancient philosophy, poetry, and history, and drawing on modern political thought, the author demonstrates that the Athenian discourse on greed was an essential component of Greek social development and political history. Over time, the Athenians developed sophisticated psychological and political accounts of acquisitiveness and a correspondingly rich vocabulary to (...) describe and condemn it. Greed figures repeatedly as an object of criticism in authors as diverse as Solon, Thucydides, and Plato--all of whom addressed the social disruptions caused by it, as well as the inadequacy of lives focused on it. Because of its ethical significance, greed surfaced frequently in theoretical debates about democracy and oligarchy. Ultimately, critiques of greed--particularly the charge that it is unjust--were built into the robust accounts of justice formulated by many philosophers, including Plato and Aristotle. Such critiques of greed both reflected and were inextricably knitted into economic history and political events, including the coups of 411 and 404 B.C. Balot contrasts ancient Greek thought on distributive justice with later Western traditions, with implications for political and economic history well beyond the classical period. Because the belief that greed is good holds a dominant position in modern justifications of capitalism, this study provides a deep historical context within which such justifications can be reexamined and, perhaps, found wanting. (shrink)

When the richest 85 individuals in the world own as much as the poorest 3 billion people, one must ask about equity and social justice. Yet, the problem is not just individual, but also systemic. Just as nations have developed poverty lines to identify people who need help, so too, as this book argues, we need a measure of relative wealth that can guide policy makers, governments, development specialists, and economists. Approaching the question through theological, ethical, and economic analysis, the (...) book probes the dynamics of wealth creation, the effectiveness of national and international policies, and the underlying questions of poverty, wealth, and widening economic disparities. [Subject: Religious Studies, Ethics, Social Justice, Economic Policy]. (shrink)

In this paper I attempt to clarify the nature of the vice of greed, focusing on what can be called “modest greed”. Agents who are modestly greedy do not long for material goods or wealth with intense desires. Rather, they have quite modest desires, but ones whose satisfaction they pursue excessively relative to other goods. Greed - including modest greed - emerges as a particularly troubling and problematic vice.

This collection examines how greed should be understood and appraised. Roundly condemned by virtually all religions, greed receives mixed appraisals in the domains of business and economics. The volume examines these mixed appraisals and how they fare in light of their implications for greed in our everyday world. Greed in children is uniformly criticized by parents, other adults, and even children’s peers. However, in adulthood, greed is commended by some as essential to profit-seeking in business (...) and for offering the greatest promise in promoting economic prosperity for everyone. Those who advocate a more permissive position on greed in the adult world typically concede that some constraints on greed are needed. However, the supporting literature offers little analysis of what greed is. It offers little clarification of what sorts of constraints on greed are needed. Nor is careful attention given to difficulties children might have in making a transition without moral loss from regarding greed as inappropriate to its later qualified acceptance. Through a secular approach, this book attempts to make significant inroads in remedying these shortcomings. (shrink)

Scholars generally agree that, according to Aristotle, factionalizers are motivated by a sense of injustice (the ‘first cause’) to redress imbalances in wealth and honor (the ‘second cause’). Recent discussions, however, have offered a misleading interpretation of Aristotle’s third cause, which he identifies as the origin of the factionalizers’ sense of injustice. It involves, most importantly, greed, hubris, and other factors such as fear and ‘disproportionate growth’. In conversation with a recent publication in Polis, this article restores the third (...) cause to its proper place in Aristotle’s account. Abusive power holders, driven by greed, hubris, and overreaching, oppress their fellow citizens – following in the tradition of Homer’s Agamemnon, Hesiod’s basileis, and Solon’s aristocrats. These power holders prompt a sense of anger, indignation, and injustice in their fellow citizens, who ultimately form factions and take action on their own behalf. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Overcoming Greed:Buddhists and Christians in Consumerist SocietyPaul F. KnitterAs I understand my assignment, I don't find it an easy one. I've been instructed to carry on a lopsided dialogue. Generally, what generates productive dialogue is a proper balance of learning and questioning. My assigned job in this exchange is to question more than learn—to offer some Christian queries about how Buddhists think we can overcome greed and (...) find a path out of the consumerist jungle that surrounds us. Actually, I'd prefer it the other way around, for I'm convinced that we Christians have some very important, if not absolutely vital, things to learn from Buddhists in our own efforts to deal with the jungle. And I will mention some of them. But, following instructions, my main focus in what follows will be on areas where I suspect that Buddhists can learn something, maybe something very helpful, in our shared efforts to deal with greed and the havoc it is working on people and planet.I need to specify my Christian voice in this conversation—or, as they say, where I'm coming from within the many and diverse neighborhoods that make up the Christian community. I'll be reflecting and speaking out of my knowledge of and experience with Christian liberation theology, especially as it has been born, developed, and taken new shapes among the poor and suffering of Latin America. The voices and concerns you will hear in my own remarks are originally those of Christian thinkers and activists such as Jon Sobrino, Gustavo Gutiérrez, Leonardo Boff.In order to bring some order into the swarm of insights and questions that these extremely rich presentations have stirred up in me, I'll gather my comments around two broad topics.The Inner and the Outer: Enlightenment and the Reign of GodMy first general area of conversation is a familiar one not just for the Buddhist-Christian conversation but also for all activists who call themselves religious: the need for, but the difficulty of, holding together the "inner and the outer"—action and [End Page 65] contemplation, personal and social transformation, or what I will term Buddha's enlightenment and Jesus' vision of the Reign of God.What Christian Liberation Theologians Need to Hear from BuddhistsFirst, let me simply list, and hold back from delving into, some crucial lessons that we Christians not only can but drastically need to learn.First, what Jesus and his followers call the Reign of God will be built on sand unless it is grounded in the personal, inner conversion of those who are trying to build it. The church will be only a empty building—or worse, a den of thieves—if its members, and that includes its leaders, are not transformed by the Spirit. Or, in Judith Simmer-Brown's words, "No fundamental transformation can take place anywhere without the joining of inner change and outer change" (emphasis mine). Or, in Ken Barnhill's words (quoted by Brown), "Social work entails inner work.... social change and inner change are inseparable." Or, in the powerful and widely quoted admonition of Thich Nhat Hanh: We have to be peace if we want to make peace. Christians know this, and they talk about it. But in my own life and in what I see in my church, how often we forget it in our efforts to get things done, in our concern for the institution, in our determination to bring about political change.Second, I both cringed and nodded approvingly when I read about Judith Simmer-Brown speaking about "idiot compassion." In opposing wealthy landowners in El Salvador, or in a business-controlled city council in Cincinnati, how often I have felt but perhaps not identified in myself and in my fellow Christian activists "...unskillful acts...the impulsive response based on insufficient knowledge [that] can quickly become ineffective, causing personal burnout." Such idiocy, grounded in goodwill, derives, again, from an insufficient balancing of the inner and the outer.Third, and more sharply focused on the suffering caused by greed, Judith offers a hope, or deep belief, that is often not clearly present among liberation theologians since... (shrink)

This article reports the results of an exploratory investigation of a particular area of moral tension experienced by MBA students in a graduate school of business. During the first phase of the study, MBA students'' own perceptions about the moral climate and culture of the business school were examined. The data gathered in this first part of the study indicate that the students recognize that a central part of this culture is constituted by a shared familiarity with a set of (...) institutionally reinforced premises about human behavior and motivation including the ideas that: 1) people are self-interested utility-maximizers, 2) individuals should be unimpeded in their pursuit of their own self-interest through economic transactions, and 3) virtually all human interactionsare economic transactions. The data further indicated that the business students experience a degree of tension between this ethic of self-maximizing and the everyday ethics prevalent in our broader culture, in which altruism and selflessness are central elements. The final section of the study was an effort to see whether and how these institutionally sanctioned premises were integrated into the students'' arguments about the relationship between self-interest and social responsibility. (shrink)

Grasping. Avarice. Covetousness. Miserliness. Insatiable cupidity. Overreaching ambition. Desire spun out of control. The deadly sin of Greed goes by many names, appears in many guises, and wreaks havoc on individuals and nations alike. In this lively and generous book, Phyllis A. Tickle argues that Greed is "the Matriarch of the Deadly Clan," the ultimate source of Pride, Envy, Sloth, Gluttony, Lust, and Anger. She shows that the major faiths, from Hinduism and Taoism to Buddhism and Christianity regard (...) Greed as the greatest calamity humans can indulge in, engendering further sins and eviscerating all virtues. As the Sikh holy book Adi Granth asks: "Where there is greed, what love can there be?" Tickle takes a long view of Greed, from St. Paul to the present, focusing particularly on changing imaginative representations of Greed in Western literature and art. Looking at such works as the Psychomachia, or "Soul Battle" of the fifth-century poet Aurelius Clemens Prudentius, the paintings of Peter Bruegel and Hieronymous Bosch, the 1987 film Wall Street, and the contemporary Italian artist Mario Donizetti, Tickle shows how our perceptions have evolved from the medieval understanding of Greed as a spiritual enemy to a nineteenth-century sociological construct to an early twentieth-century psychological deficiency, and finally to a new view, powerfully articulated in Donizetti's mystical paintings, of Greed as both tragic and beautiful. Engaging, witty, brilliantly insightful, Greed explores the full range of this deadly sin's subtle, chameleon-like qualities, and the enormous destructive power it wields, evidenced all too clearly in the world today. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Overcoming Greed:An Eastern Christian Perspective1Valerie A. KarrasAs an Eastern Orthodox Christian, I have chosen to approach the topic of "overcoming greed" from an Eastern Christian perspective, relying particularly on the writings of some of the early theologians of the Greek East. It is not coincidental either that laissez-faire capitalism arose in the Western Christian world, or that the first strongholds of communism developed in Eastern European, traditionally (...) Orthodox, countries. Both phenomena speak to an intrinsic difference in the way in which human beings are conceived as relating to the world and to each other, both personally and communally.The traditional Eastern Christian model of the human person as not simply caretaker of creation, but fundamentally as a mediator uniting all aspects of creation in humanity's own nature,2 has led historically to a general lack of interest in exploiting creation (in fact, the worst environmental problems in the Orthodox world occurred in countries after they came under totalitarian communist domination). Similarly, the Eastern Orthodox emphasis on the relational, and even communal, nature of salvation created an environment hostile to the individualist, exploitative model upon which modern Western economics has been founded (this has been rapidly changing in post-communist Eastern European countries and Russia, however).The Eastern Church identifies this phenomenon of exploitative and abusive relationships toward nature and other persons as a consequence of the fallen condition of humanity, that is, humanity as it currently exists, in a state where our natural communion with God has been ruptured. In this context, Christianity in general and Eastern Christianity in particular recognize greed as one of the passions (equivalent to what Buddhism describes as "cravings") that are part of our fallen human nature, a consequence of our separation from God. Some of the passions are primarily physical in nature, others emotional or psychic, but in fact virtually all passions are a combination of the two.Greed, a passion of both soul and body that is endemic to our current existence, is typical of this understanding. There are two aspects to the vice of greed: (1) the emotional or spiritual dimension, that is, the acquisitive lust that usually betokens either a deep-seated insecurity or, worse, a desire for power and control; and (2) the [End Page 47] external, physical manifestations of greed in the actual acquisition of things, often to the detriment or exploitation of others. Eastern Christian writings attempt to work on both dimensions of the passion of greed, especially the spiritual, while often distinguishing between greed (a moral vice) and wealth (an amoral condition).This article will focus on two early church theologians, Clement of Alexandria and John Chrysostom. In particular, it will focus on their biblical exegeses of two pertinent New Testament passages: Jesus' conversation with a young righteous scholar of the Mosaic Law and the parable of Lazarus and the rich man, respectively. Finally, I will suggest that, for Orthodox Christians, an important key to overcoming greed is disciplined asceticism, to be practiced by all persons and not simply by monks and nuns. Asceticism—the exercise of control over the passions through fasting, prayer, chastity (understood differently for married and unmarried persons), and almsgiving—is the vehicle by which to cultivate an attitude of apatheia or passionlessness, the Christian equivalent of the Buddhist ideal of detachment.Clement was a philosopher-theologian who headed the great Christian catechetical school in Alexandria in the late second century C.E. In his treatise Who IstheRich ManWhoWill Be Saved? 3 Clement mused on the spiritual and soteriological dimensions of greed by reflecting on Jesus' encounter with the wealthy young "lawyer," that is, scholar of the Mosaic Law, who questioned Jesus on how to acquire eternal life. In his response, the young man showed himself righteous in his adherence to the demands of the law, but ultimately unwilling to commit all of himself by giving away his property, even though Jesus said that it was the price to inherit eternal life.Clement pondered whether it were therefore possible for anyone wealthy to be saved, given Jesus' declaration that "it is easier for a camel to go through the eye of a needle than for a rich man... (shrink)

Despite impressive technological developments, there is something that does not seem to have changed in the future of the Alien saga: capitalist society. The capitalist mode of production was largely triggered by an important event in the history of humanity: the Industrial Revolution. In the Alien films the worst tendencies of capitalism seem to drive the Weyland‐Yutani Corporation's decisions, confirming Karl Marx's fears that people would not be at the center of the process of capitalist production. It is clear the (...) Weyland‐Yutani Corporation has taken its goal of acquisition of profit at all costs very seriously, as demonstrated by Special Order 937. Alienation is one of Marx's key ideas. This chapter mainly focuses on alienation as it is described in a series of notebooks written in 1857‐1858, also known as the Grundrisse. Marx concludes, based on insights from ancient Greek and Hellenistic philosophers, that the good life should be one of active self‐realization and autonomy. (shrink)

Revealing what is happening in organizations in relation to ethical issues and what corrective action can be taken to prevent unethical practices, the author deals with a different aspect of ethical (or unethical) management within each chapter concluding with a quiz and case study.

The Hipparchus features a conversation between Socrates and an un-named companion, at an unknown time and place, about gain and whether we should in any way limit our pursuit of gain. Socrates argues intransigently that we should not place any limits on our pursuit of gain, while the companion, despite being unable to counter his arguments, is equally firm in his rejection of Socrates’ moral position. The dialogue thus shows the strength of the conviction, in the souls of decent people, (...) that unrestrained pursuit of the good things is not good for you. This conviction exists prior to calculation, and the action of the dialogue thereby testifies to the existence of man’s natural conscience. (shrink)

Perspectives on teaching values and applied ethics in tertiary level education with an emphasis on the importance of bridging the gap between moral philosophy ...

The author posits that greed and insensitivity to the needs of others are corrosive values that have engendered the global economic crisis. Examples are cited to support the thesis that it is primarily an ethics crisis that has resulted in the distortion of the US economy, such that the middle class is sliding into poverty while the wealthiest 1 per cent is ever more powerful and wealthy. The irony of the predatory capitalism being practised is that it is ultimately (...) self-destructive to the practitioners. The unsustainability of the present system is discussed along with solutions, including stakeholder management, corporate and personal altruism and spiritual awakening. (shrink)

The author considers James’ (1910) essay The Moral Equivalent of War and applies some of its ideas to another pressing problem of our times, which for short is called greed, but can be described more precisely as the working out of the possessive market society under the conditions of neoliberalism and great technological power. James considered that pacifists had the best arguments, but failed to persuade mainstream society. The same can be said today of the critics of neoliberalism. There (...) is need for radical change away from an unjust and dysfunctional economic system, but mainstream society is unwilling to try new ideas. The present author adapts James’ idea and considers benign and malign forms of greed. What we all desire, more than huge monetary assets, is self-respect and social respect. There are already many rewards that are not primarily monetary. In a radically different culture, which rejected the principles of unlimited accumulation and almost unlimited convertibility, benign rewards would motivate constructive activity. The moral equivalents of greed briefly discussed here are—Honours and prizes for merit (administered justly); Celebrity (important in society); Luck (gambling, with certain constraints, could be benign); Power (rewarding in itself, so large monetary gain need not go with it); Services (people making important contributions to society could concentrate their commitment); Temporary custody of public treasures (a privilege prized by some). The essay ends by linking James’ idea, the Faustian bargain myth, and the necessity of hope. (shrink)

At the outset of a critical examination of everyday greed, two basic challenges must be faced. First, there is a need for a clear and determinant enough understanding of greed to enable one to make a reliable assessment of its alleged strengths and weaknesses. This is particularly so when presented with claims by some that, suitably constrained, greed can be good. Does this mean that, at least to some extent, greed can be good as such? Or (...) does it mean that, even if greed at its best has fundamentally undesirable qualities, it can still sometimes serve as an acceptable means to good ends?Second, at the personal level, greed can enter our lives in ways that are morally troubling, if not corrupting. All of us have had some first-hand acquaintance with greed, either through being lured by its charms or through being harmed by the greed of others. Beginning in childhood, we are chided by others when it seems to them that we are being greedy. However, as adults we are sometimes chided for allegedly not seeing that in some contexts greed actually can be good. We may think that the greed of some is responsible for the impoverishment of others. However, some argue that, suitably constrained, greed is an essential feature of any economic system that holds out hope that even the least well off can prosper. Still, little is said about what constraints on greed might be needed, or about how they might best be obtained. Further, largely absent from this conversation is a substantive analysis of what greed is.This absence has not prevented the emergence of sweeping appraisals of greed. However, such appraisals need to be supported by more clarity about what greed is. A major aim of this chapter is to advance this end, not by offering the last word on how we should understand greed, but by presenting a solid basis from which we might gain greater clarity. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Justice Not GreedRichard A. HoehnJustice Not Greed Edited by Pamela Brubaker and Rogate Mshana Geneva: WCC Publications, 2010. 224 pp. $14.00The World Council of Churches (WCC) Advisory Group on Economic Matters (AGEM) advises the WCC and congregations on global economic issues. AGEM members from diverse backgrounds produced the papers in this volume. The introduction is by Rogate Mshana, WCC director for Peace, Justice, and Creation. Samuel Kobia, (...) general secretary of the WCC from 2004–9, introduces the rationale and role of AGEM in the global financial crisis. The book ends with a statement on just finance and the economy of life, adopted by the WCC Central Committee in September 2009. Justice Not Greed will be most useful in settings where there is interest in the intersection of ethics, the economic crisis, and Christianity in relation to the global economy, as well as among those who wish to follow the WCC. As expected [End Page 208] of conference papers, there is not a systematic development of an argument but overlapping ethical and economic analyses. All, however, are opposed to the status quo because of its manifest injustice, especially the impact on poor people.If one were to impose a thematic development, it might go something like this, allowing for individual differences among the authors. Decolonization has resulted in a lopsided, Western, capitalist economic system predicated on greed (Jan Pronk), described by other authors as a beast or a cancer (vivid but unhelpful metaphors since the crisis was caused by humans, not nature). The world lacks appropriate international structures. We need new global institutions, a new global financial architecture that is predicated on, or at least takes into account, justice. Congregations, the ecumenical movement, and the WCC could play a significant role in helping the United Nations move toward such a system.Several authors hope that the global crisis will provide a moment when such a change might become possible (e.g., Alexander Cobham’s “Blood-Stained Silver Lining”). Pamela K. Brubaker, Kim Yong-Bock, Roel Aalbersberg, Rienzie Perera, and Geevarghese Mor Coorilos examine questions related to the Bible, ethics, theology, a culture of “enough for all” (Musa Panti Filibus), the church as moral community, the ecumenical movement, and principles for an alternative economic system. Mariana Issa Zureikat argues for “econo-morals,” applying moral values to economic analyses. Thomas H. Kang advocates the capabilities approach of Amartya Sen and Martha Nussbaum. Marcos Arruda suggests an economy of world solidarity with the “gross happiness index” as a standard for measuring progress. While most chapters include economic analysis, John Dillon wades into some nitty-gritty causes of the current financial crisis, with a positive nod toward the (never adopted) Keynes plan for the Bretton Woods system of monetary management. Marie-Aimee Tourres lays out impacts on the developing world, as does Xiao Lian from a Chinese perspective. Most of these authors argue for such global solutions as a global reserve system and a global tax system.Justice Not Greed presents thoughtful, sometimes passionate papers that could form a basis for lively discussion. Yet real-world solutions often come down to the practice of democracy and political will. Unfortunately, it is not clear that the ecumenical movement possesses the will or the means to effect change because local organizing for political change is not a high priority at any level. [End Page 209]Richard A. HoehnChrist the Servant Lutheran ChurchCopyright © 2012 The Society of Christian Ethics... (shrink)

Throughout the history of psychoanalysis, the study of creativity and fine art has been a special concern. _Psychoanalytic Studies of Creativity, Greed and Fine Art: Making Contact with the Self_ makes a distinct contribution to the psychoanalytic study of art by focusing attention on the relationship between creativity and greed. This book also focuses attention on factors in the personality that block creativity, and examines the matter of the self and its ability to be present and exist as (...) the essential element in creativity. Using examples primarily from visual art_ David Levine_ explores the subjects of creativity, empathy, interpretation and thinking through a series of case studies of artists, including Robert Irwin, Ad Reinhardt, Susan Burnstine, and Mark Rothko. _Psychoanalytic Studies of Creativity, Greed and Fine Art_ explores the highly ambivalent attitude of artists toward making their presence known, an ambivalence that is evident in their hostility toward interpretation as a way of knowing. This is discussed with special reference to Susan Sontag’s essay on the subject of interpretation. Psychoanalytic Studies of Creativity, Greed and Fine Art contributes to a long tradition of psychoanalytically influenced writing on creativity including the work of Deri, Kohut, Meltzer, Miller and Winnicott among others. It will be of interest to psychoanalysts, psychoanalytic psychotherapists, historians and theorists of art. (shrink)

This study relies on environmental stewardship, a stakeholder-enlarged view of stewardship theory, and institutional theory to analyze the relationship between CEO compensation and firms’ environmental commitment in a worldwide sample of 520 large listed firms. Our findings show that environment friendly firms pay their CEOs less total compensation and rely less on incentive-based compensation than environment careless firms. This negative relationship is stronger in institutional contexts where national environmental regulations are weaker. Our findings have important theoretical meaning and practical implications. (...) Results show that CEOs do not necessarily act opportunistically; rather some of them may be willing to act as stewards of the natural environment and accept a lower, less incentive-based compensation from environment friendly firms. This study also provides evidence of the important influence of the institutional context in setting-up CEO compensation as the relationship is stronger when national environmental regulations are weaker. Our findings question the universal validity of agency theory in explaining CEO compensation. Compensation based on pecuniary incentives might be less indicated to motivate CEOs who feel rewarded by playing a stewardship role for environment friendly firms. When designing compensation for CEOs, compensation committees and external compensation advisors should consider psychological and institutional factors that might affect CEO motivation. (shrink)

Examples of greed and environmental beneficence will be discussed in this chapter. The first example involves the crash of Wallstreet in 2008. Subprime mortgages instruments, complex derivatives and overleveraging in investment banks were major provocateurs in bringing down the economy. Volkswagen’s deceptive practices in measuring diesel fuel efficiency follows. The final example of greed is Boeing and the shoddy decision-making processes on the Boeing 737 MAX that led to the catastrophic crashes resulting in 346 deaths. Good news examples (...) comprise the second focus of this chapter. Some corporations have also demonstrated practices of good will, particularly toward the environment. We focus specifically on Interface Carpets, Unilever and 3M. (shrink)

In this topical book, Boudewijn de Bruin examines the ethical 'blind spots' that lay at the heart of the global financial crisis. He argues that the most important moral problem in finance is not the 'greed is good' culture, but rather the epistemic shortcomings of bankers, clients, rating agencies and regulators. Drawing on insights from economics, psychology and philosophy, de Bruin develops a novel theory of epistemic virtue and applies it to racist and sexist lending practices, subprime mortgages, CEO (...) hubris, the Madoff scandal, professionalism in accountancy and regulatory outsourcing of epistemic responsibility. With its multidisciplinary reach, Ethics and the Global Financial Crisis will appeal to scholars working in philosophy, business ethics, economics, psychology and the sociology of finance. The many concrete examples and case studies mean that this book will also prove useful to policy-makers and regulators. (shrink)

"My boat was moored beside an old bathing 'ghat' of the river, almost in ruins. The sun had set,"...https://youtu.be/VAhd2GNf1js. (http://philpapers.org/profile/112741).

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Hooked! Buddhist Writings on Greed, Desire, and the Urge to Consume, and: Subverting Greed: Religious Perspectives on the Global EconomyBrian KarafinHooked! Buddhist Writings on Greed, Desire, and the Urge to Consume. Edited by Stephanie Kaza. Boston: Shambhala, 2005. 271 pp.Subverting Greed: Religious Perspectives on the Global Economy. Edited by Paul F. Knitter and Chandra Muzaffar. Maryknoll, NY: Orbis Books, 2002. 193 pp.The Buddha's second (...) noble truth diagnoses the cause of suffering as desire, understood as a mental state of greed or clinging attachment that in turn leads to grasping. The mind that wants to find lasting satisfaction by grasping at objects of desire, the Buddha said, is doomed to dissatisfaction because the very nature of conditioned existence frustrates permanent pleasure. The monkey-mind keeps clinging desperately to the banana in the cage even as that clinging itself traps the hand that grasps. To let go, to escape suffering through an insight into the structural nature of the cage, the fruit, and the grasping hand, seems beyond the monkey's abilities until, chastened by the seemingly endless lack of satisfaction and wishing to emerge into a state of freedom, the monkey enters the path and trains his mind to recognize the true causes of his frustration.The teachings of the Buddha have been understood, for the past 2,500 years, as a therapy of desire. The analysis of suffering and its causes in the confused and clinging minds of ordinary sentient beings, and the prescription of a path of training to uproot those causes and thereby free the mind from suffering, have been presented as a perennial psychospiritual system of training responding to [End Page 179] the afflicted condition of every sentient being's mind regardless of culture, language, or economic system. But what happens, asks Santikaro, the American meditation teacher and disciple of Achaan Buddhadasa, in his essay in Hooked!, when this psychological inquiry is taking place in a social context marked by the deliberate and systematic exacerbation of desire, as in the contemporary period of consumerist capitalism? This question might be taken as a kind of koan to be read between the lines in all of the essays in this compelling, darkly humorous, and inspiring book: is liberation possible under capitalism? Even the Buddha's teachings can be commodified, Thubten Chodron points out in her essay, with examples ranging from the advertising hype on posters for the highest yoga tantra initiations by visiting Tibetan lamas to the high prices charged at many retreat centers and the commercial mindsets of Buddhist students wanting the biggest bang for their buck when they come to teachings or retreats. Even socially engaged Buddhist activists surf the web looking for bargains between news flashes on the latest imperial wars, as Diana Winston ruefully and comically recounts in her piece, "You Are What You Download." It seems that we are in danger of becoming a population of "hungry ghosts," the mythical beings of Buddhist cosmology whose tiny mouths cannot possibly consume enough food and drink to slake the voracious hungers and thirsts of their enormous bellies.The essays in Hooked! range widely across themes and vary greatly in styles. The text moves from the personal memoir of Winston to the meditation teachings of Pema Chodron, the philosophical inquiries into time of David Loy, descriptions of social change movements in Thailand by Pracha Hutanuwatr and Jane Rasbash, green power in contemporary Japan, essays on generosity in Zen monastic training and gift-based economies, young Buddhists' shopping habits, and much more. But all of the authors seem to agree with the recognition that, under capitalism, the problem of desire, greed, and attachment is exponentially more acute than in traditional societies, dwelling as we do in an environment that is antithetical to the very idea of a therapy for desire's overcoming. The essayists also seem to agree that hope is not vain, that it is in fact still possible to follow the path of the Buddha under capitalism, but that to be effective the practice of the path needs to take seriously and fully acknowledge the effects, intra-psychically as well as socially, of the capitalist economic system. We are... (shrink)

Let us assume, for the sake of argument, that socialism is over. Be that as it may, it is now widely accepted that socialism, understood as involving the social ownership of the means of production and the abolition of markets, faces real and perhaps insuperable difficulties. For without both markets and individual ownership, it is difficult to see how problems of individual motivation and information transmission are to be tackled—to say nothing of Ludwig von Mises's underlying concern with how to (...) make economic decisions about the utilization of resources within an economy. (shrink)