Posts tagged with: greed

chobani-ceoAs politicians continue to decry the supposed “greed” of well-paid investors, business leaders, and entrepreneurs — promoting a variety of reforms that seek to mandate minimums or cap executive pay — one company is demonstrating the value of economic freedom and market diversity.

Chobani, a privately owned greek yogurt manufacturer, recently announced it will be giving a 10% ownership stake to its roughly 2,000 full-time workers, a move that could result in hundreds of thousands, if not millions, of dollars for some employees.

According to the New York Times:

Hamdi Ulukaya, the Turkish immigrant who founded Chobani in 2005, told workers at the company’s plant here in upstate New York that he would be giving them shares worth up to 10 percent of the company when it goes public or is sold.

The goal, he said, is to pass along the wealth they have helped build in the decade since the company started. Chobani is now widely considered to be worth several billion dollars.

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Blog author: jsunde
Wednesday, December 9, 2015
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0611When we think about “stewardship,” our minds tend to revert to the material and the predictable. We think about money or the allocation of resources. We think about growing crops or creating goods or financial investment and generosity.

For the Christian, however, stewardship goes much further, weaving closely together the tangible and transcendent in all areas of life. “Stewardship is far more than the handling of our money,” write Lester DeKoster and Gerard Berghoef. “Stewardship is the handling of life, and time, and destiny.”

In For the Life of the World, God’s oikonomia is compared to a song, with our activity in each sphere of creation harmonizing together even as it plays in its own distinct way and through its own “modes of operation” — whether in family, business, education, or elsewhere. God has given us stewardship as a gift, granting the responsibility to manage his house and the availability to partner with the divine in that remarkable task.

C.S. Lewis points to this reality in The Magician’s Nephew, where he writes at length about the origins of Narnia and the creative call of humankind. (more…)

Blog author: jsunde
Monday, September 21, 2015
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tree-colorful-4Over at the Reformation21 blog, Michael Jensen compares what he calls the “scarcity mindset” of the world with the “abundance mentality” of God, noting that “the world as we see it is open to the creative and transformative power of the Lord God.”

Although Jensen’s portrait of civilizational progress is undeservedly bleak (if anything, we’re learning to see beyond scarcity), and although he overstates the conflict between “growing populations” and “diminishing resources” (see Matt Ridley et al), he manages to frame the basic theology quite well:

A theistic worldview, and in particular the Christian one, has at the heart of reality the three-personed God of Love, whose creative energy made everything from nothing at all by his Word, and who makes a great nation out of the fruitless loins of Abraham, and who gives life even to the dead. His grace abounds; his abundance overflows. He enters into, blesses, and renews the earth. The Old Testament testifies again and again to the renewing power of the divine breath upon the earth.

The emblematic episode was the Exodus: a feeding in the wilderness, in which God reminded Israel of the title that Abraham had given him when he provided a ram to substitute for Isaac: yhwh yrh, the God who provides. The manna from heaven was not a natural co-incidence. It was miraculous. It wasn’t supposed to be there – it exceeded nature’s fruitfulness, and enabled survival in the wilderness, where nature was in fact barren…The feeding of the five thousand is the New Testament counterpart to the feeding in the Exodus. The 5000 who gathered in the desert ate from two fish and five loaves, and were satisfied. And, in excess of the Exodus miracle, there were twelve baskets of left overs! The miracle was a provision beyond necessity, to excess.

Of course, as with all the miracles, it’s an object lesson. This is a great extraordinary picture of what the world, when God rules it once for all, will look like. And it isn’t a world in which things will run out. It’s a world in which things overflow, because that’s the character of the God who made it. This is the God who made everything from nothing, not with any strain, but by a word; and the God who gives life to dead. This is the God whose artistry fills the heavens at night, and who has filled the earth with so many creatures that we haven’t counted them all yet. And this is the God, who, despite our willingness to believe that he has our good in mind, gives us even his own Son to supply what we need.

Again, I think these glimpses into the abundance of the not yet are far more prevalent in the here and now than Jensen seems to believe. We have seen unprecedented bursts of innovative and value-creative activity in so many ways, leading to more material needs being met and more bellies being filled than ever before. Surely human greed and vice continue to tempt folks throughout all of that, and the “scarcity mindset” is alive and well among many. But free societies have secured gains not out of quest for self, but by learning to orient inventors, entrepreneurs, and employees in the service of neighbor. (more…)

LemonisMarcus2I’ve written before on how television can be a powerful tool for illuminating the deeper significance of daily work and the beauties of basic trade and enterprise. Shows like Dirty Jobs, Shark Tank, Undercover Boss, and Restaurant Impossible have used the medium to this end, and today at The Federalist, I review a new contender in the mix.

CNBC’s The Profit is arguably the best reality show currently on television. Starring Marcus Lemonis, a Lebanese-born American entrepreneur and investor, each episode highlights an ailing businesses in desperate need of cash, care, and wisdom.

By the end, we get a remarkable view into the types of struggle, pain, glory, and redemption that occur across countless businesses every single day.

The show counters a host of false stereotypes about business, three of which I highlight in my piece. But one that is perhaps more popular and pernicious than all is the notion that business and is necessarily driven by greed and selfishness.

On the contrary, I argue, selfishness kills and service prospers: (more…)

greedy-bastardsRecently, Rev. Robert Sirico spoke in Chicago. He was asked a question regarding income inequality. His answer was that he didn’t care how much money Bill Gates had, nor did it matter to him the difference between Gates’ income and say, Warren Buffet’s. Nor did he care about the difference between how much wealth Gates has and his own personal income. No, Sirico said, what he cared about were the poor: those people so disconnected from the global marketplace that they were not able to live above subsistence level. How do we help them?

One popular answer right now is to “share the wealth.” Those with a lot of money should give a big chunk of it to the poor. Then everyone will be “even.” That seems reasonable, right?

Not so fast, says Rev. Dwight Longenecker, writing at his Patheos blog, Standing On My Head.

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Blog author: jballor
Wednesday, July 23, 2014
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Giotto di Bondone - No. 27 Scenes from the Life of Christ - 11. Expulsion of the Money-changers from the Temple - WGA09209Last month the New York Times hosted a discussion on the question, “Has Capitalism Become Incompatible With Christianity?” There’s lots to be said about the “Room for Debate” feature, including a note on the caption for the lead image in the introduction.

The image is a rendering of the classic scene from the Gospels, Jesus’ cleansing of the temple. The NYT caption reads thus: “Jesus comes down hard on the bankers of his day.” Perhaps that’s a bit of ideological balance for the phrasing of the debate question itself, which supposes that at least at one time that “capitalism” and Christianity were compatible, even if they are no longer.

Occasioned by the NYT feature, although not a direct response, is a piece today over at Think Christian, in which I introduce what I consider to be some important distinctions to keep in mind when thinking about the Christian faith and economics.
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[Part 1 is here.]

The free economy frees entrepreneurs to create new wealth for themselves and others, which brings us to the issue of consumption. In his book Crunchy Cons, conservative author Rod Dreher describes consumerism this way: “Consumerism fetishizes individual choice, and sees its expansion as unambiguous progress. A culture guided by consumerist values is one that welcomes technology without question and prizes efficiency…. A consumerist society encourages its members both to find and express their personal identity through the consumption of products.”

Dreher’s critique of consumerism is pointed, and many people, including many Christians, could benefit from hearing it. At the same time, though, Dreher’s description runs the risk of obscuring the crucial differences between consumerism and capitalism.

It’s true that capitalist economies are far better at wealth creation than socialist economies, which is why freer economies tend to have fewer people living in extreme poverty. But capitalism and consumerism—far from being necessarily joined at the hip—are not even compatible over the long term. A moment’s reflection suggests the reason. (more…)