Redeeming Capitalism

Capitalism is not immoral, people are.

Can capitalism be redeemed? Yes it can! For many people it is easy to blame capitalism for our current economic environment. The truth is capitalism is not evil and it’s not what caused this economic crisis. What caused this financial mess are the people who immorally and unethically used the free enterprise system for their own benefit without regard for who they would hurt in the process. So don’t blame the system. Blame those who hijacked the system for their own devious pleasures.

Admittedly, capitalism is not a perfect economic system. However, even with all of its flaws, this competitive market system provides many benefits to those in our society. It creates an environment for innovation, productivity, creative expression, price/cost competition, collaborative solutions, and resource multiplication and distribution.

Unfortunately, like with most things in our society, people have taken something that can be used for good and instead used it for their own selfish vices. Misuse and abuse driven by greed has turned what should be used for constructive purposes into something destructive.

Moderation is something humans don’t do well without divine intervention. Over-indulgence is something we much more easily gravitate towards. Fortunately there is hope for us. I believe capitalism can be redeemed by those with a Biblical worldview and a willingness to do business God’s way.

God’s plan for capitalism

The revelations over the past decade about corporate America’s business practices – which unarguably played a decisive role in our current economic recession - have brought to light the need for a new way to do business. Not only is our economy experiencing an economic recession, we are also experiencing an ethical and moral recession in terms of how businesspeople operate. If our country is to build a sustainable future, we need to change our approach to business and business management by restoring a moral and ethical foundation through the adoption of Biblical principles.

According to Patrice Tsague, founder of Nehemiah Project International Ministries and author of the transformational Biblical Entrepreneurship curriculum, God’s plan for business encompasses five key principles:

1) To exercise dominion over the earth’s resources (Genesis 1:28).

2) To take care of the earth (Genesis 2:15).

3) To meet the natural needs of His children and of the world (Genesis 41:57, Acts 6:1).

4) To ensure that none of His children suffer lack (1 Thessalonians 4:11-12).

5) To seek and save the lost (Mark 16:15).

Compassionate capitalism

Capitalism can be redeemed to do much good in the world. One critical way is for Christian entrepreneurs to execute business strategies that effectively utilize Biblical principles to grow sustainable and profitable businesses. The result will be a significant impact – naturally and spiritually – for every person connected to the business.

The five Biblical Entrepreneurship principles mentioned above can be utilized to develop a holistic approach to business that demonstrates the Great Commandment that Jesus talked about in Mark 12:29-30, i.e. love God and love people. This holistic business approach has the potential to impact people spiritually, socially, relationally, mentally, emotionally, and financially. On a practical level, here’s what a Biblical holistic business perspective looks like:

» Genuine, passionate, engaged, and thoughtful consideration for the needs of employees, customers, suppliers, partners, shareholders, communities, and other stakeholders.

» Operating the business with the highest levels of moral and ethical behavior, even at the risk of profits. Focus on long-term sustainability versus short-term, knee-jerk decisions.

» Strategic and maximum utilization of God-given talents, abilities, gifts, skills, resources, and opportunities.

» Effective stewardship of finances – profits are a means to an end not the end itself.

» Intentionally positioning the business as a transformation catalyst for individuals, communities, and organizations.

I remember a quote from a someone a few years ago who said, “Let's not just transform those in need, we can also find ways to help transform those in power." I couldn’t agree more. I believe Christian entrepreneurs can play a strategic role in redeeming free enterprise by setting a godly leadership example to influence and redirect those who have been overzealous manipulators of this current brand of capitalism.

Many experts believe that entrepreneurs and small businesses will play a key role in stimulating our economy back to health. If that’s the case, Christian entrepreneurs have a critical role to play in helping to redeem the good in capitalism, which will also serve to bring transformational and practical life solutions to the people that need them the most.