Posts tagged with: production

Blog author: jballor
Tuesday, July 22, 2014
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Idle RichOver at his blog, Peter Boettke writes, “The idle rich are never really idle in a free market economy.”

Now while we might want to distinguish between the rich and their riches, could it be that even in their consumption, conspicuous or otherwise, the rich are contributing to a rising tide that lifts all boats? Wesley Gant makes that related case over at Values & Capitalism: “Is It Possible to Waste Money?”

Gant seems to conclude that it isn’t possible to “waste” wealth. “Humans do not consume resources; they create and exchange them,” he says.

One might argue, however, as John Mueller does, that humans create and exchange things, but that they also consume and distribute them. It’s a truncated and reductionist economism that doesn’t do justice to that fuller picture. A basic problem with this kind of view is that it cannot distinguish between types of consumption. Maybe we need “ethics” rather than “economics” proper to do so, but that just goes to show the limitations of the economic way of thinking.

On Gant’s account, it would seem that there is no such thing as bad stewardship. Now it may be that consumption of luxuries is not always bad, or that such consumption often does have some redeeming virtues. But is it the case that such reasoning can justify any exchange or consumption? (As long as it doesn’t involve the government, of course!)

Perhaps the guy who got the one talent and buried it in the ground should have just given the wealthy owner a basic lesson in such economics.

I recently wrote about Hobby Lobby’s billionaire CEO, who, in a recent Forbes profile, made it clear how deeply his Christian faith informs his economic decision-making.

This week, in Christianity Today, HOPE International’s Chris Horst profiles another Christian business, Blender Products, whose owners Steve Hill and Jim Howey actively work to elevate the practices of the metal fabrication business and, above all, operate their business “unto the Lord.”

Their company’s foundational verse? Colossians 3:17: “And whatever you do, in word or deed, do everything in the name of the Lord Jesus, giving thanks to God the Father through him.”

“The metal fabrication business is extremely cutthroat,” says Hill. “Workers are given a singular task, and maximum output is demanded. They’re simply a factor of production. As a general rule, they have no access to management. There is very little crossover between guys on the floor and guys in the offices.”

Hill and Howey aim to subvert the us-versus-them mentality. Many days they walk the shop floor, engaging their workers as peers. Employees on the floor are treated as importantly as the managers, undermining the adversarial culture simmering in many manufacturing businesses.

“The company has tried to abide by a simple philosophy concerning our employees,” Steve said. “Pay them well, provide great benefits, and invest in lives…The guys in our shop… know that I’m a human too. I have many of the same struggles they do. Showing humanness to people is key to disarming those stereotypes.”

And the employees aren’t the only ones who benefit:

The very work that Blender employees accomplish benefits a broader community. On the shop floor, talented metal artisans convert stacks of sheet metal—what looks like an oversized stack of paper—into massive fans that improve the efficiency of machinery by mixing airstreams. Their proprietary mixing designs decrease pollution, reduce machinery fire risks, and improve ventilation wherever they’re installed. Fastened in hospitals, schools, office buildings, and factories, they silently make buildings and machines work better and safer.

But although Hill and Howey’s Christian values inform the way they conduct their business and treat their employees, the approach has impacted far more than employee paychecks, customer satisfaction, and environmental stewardship:
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Blog author: jspalink
Wednesday, May 30, 2007
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“Root of all evil” or liberator of mankind? Samuel Gregg examines the role that money plays in a free economy, particularly the way it “allows people to engage in the greater specialization of economic production which produces growth.”

Read the full commentary here.