[The following is reposted from the Acton Institute's blog:]
Rae began by examining some of the common criticisms lobbed against business, namely, that it promotes greed, inequality, and consumerism. As Michael Miller often notes, these are human vices, not economic ones, and thus business, properly understood, is not immoral in and of itself.
On the contrary, business has great potential for serving and contributing to the common good. Though some believe profit-seeking enterprises are only valuable insofar as they can “give something back” out of what’s leftover, Rae emphasized how business advances the common good right from the get-go.
Rae offers four primary ways this occurs:
- By peaceably providing needed goods and services that allow human beings to flourish and enhance their well being
- By providing meaningful work that allows human beings to flourish and enhances their well being
- By facilitating wealth creation and economic growth
- By enabling the poor to lift themselves out of poverty
By leveraging business, we not only yield profits that can be used for the glory of God outside of business, we can serve our neighbors in the here and now. “God is not just redeeming individuals,” Rae concluded. “He is redeeming all of creation. He is redeeming the marketplace.”
To listen to Rae’s lecture, you can purchase “Business and the Common Good” here.
Purchase Rae’s book, Business for the Common Good: A Christian Vision for the Marketplace