Business Administration Faculty Presentations

Document Type

Conference Presentation

Conference/Event

Association of Private Enterprise Education

Location

Las Vegas, NV

Event Date

4-7-2016

Keywords

Crony capitalism, Biblical morality, free markets

Abstract

Modern capitalism is often condemned not simply due to market failure (efficiency grounds), but increasingly due to unjust results (equity grounds). Yet many of the underlying moral concerns are more appropriately targeted on what is often called crony capitalism, where governmentgranted privileges lead some to profit at the expense of others. This paper examines the morality of crony capitalism from a Biblical perspective, comparing the processes used in crony capitalism against the Biblical requirements for justice, impartiality, loving thy neighbor, and the role of government.

Included in

Economics Commons

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