The frugality and simplicity of the Quaker character encouraged the patient wait for economic return in entrepreneurial activity – the precise opposite of the greed that seems so much at the forefront today.
On the 26th of November 2014, the Centre for Enterprise, Markets and Ethics held a discussion on Quaker Capitalism: Lessons for today?
We need to ask what were the principles that drove the Quaker vision and how might we apply those principles today? Perhaps if greater attention had been paid to the stewardship of the historic Quaker values in the period following the 2007 financial crisis, we might have been better served.
There are four reasons why the Quakers were successful:
– Understanding that culture shapes purpose and identity
– A willingness to talk and act morally
– The central role of the family business
– Understanding the wider responsibilities of business and capital
Read the Director’s full speech here.