Acton Institute Powerblog

Scott Rae on How Business Serves the Common Good

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In a lecture at Acton University titled “Business and the Common Good,” Dr. Scott Rae of Biola University examined the role of business in serving the common good.

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.”

business-for-common-goodTo 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

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Joseph Sunde Joseph Sunde is a writer and project coordinator for the Acton Institute, serving as editor of the Letters to the Exiles blog and content manager of the Oikonomia channel at Patheos.com. He is the founder of Remnant Culture and was a longtime contributor to AEI's Values & Capitalism project. His work has appeared in venues such as The Federalist, First Things, The City, The Christian Post, The Stream, Charisma News, Juicy Ecumenism, Ethika Politika, Mission:Work, Made to Flourish, and the Center for Faith and Work. Joseph resides in Minneapolis, Minnesota with his wife and four children.

Comments

  • Curt Day

    If you titled this, How Business Can Serve The Common Good then I would be fine with the title. But we can’t divorce Business from human vices because we have to for each specific business whether it draws us away or entices to practice the human vices listed above. Otherwise, we will encourage people to uncritically accept many business practices that are truly immoral.