I first read this book shortly after it was published in 1994, at a time when I was starting to explore the interface between Christian ethics and economics. Re-reading it some twenty years later has been instructive, now that this field has been developed rather more and is taken seriously again by at least some of those involved in politics and public life.
The book is set out in four parts, preceded by a helpful introduction in which Tim Gorringe sets out his stall by explaining how he uses Karl Marx as a dialogue partner throughout. This gives a hint as to his own political leanings. Indeed, in his introduction he even locates Marx as standing within the tradition of prophecy (p. xi). This means that Gorringe works essentially with a structured view of society and of economics that draws on Marxist theories of power and domination, rather than something more dynamic or entrepreneurial, and this is the undergirding theme of Part One. However, the theme of ‘narrative’ and economic history is certainly also present here, as part of his general critique of a version of economics that is ‘at the mercy of abstract laws which only experts can fathom’ (p. 22).
Within Part One I enjoyed finding at least two sharp criticisms of Brian Griffiths, Chairman of CEME, and having heard Lord Griffiths’ more recent reflections my sense is that he might now yield a little ground to Gorringe when it comes to the place for Christianity within public policy (see p. 13), while holding fast against the Marxist view on equality and liberty (p. 54). In certain respects, the world that Gorringe describes has changed. I particularly noticed this in his discussion of a living wage, which has now been embraced across the political spectrum in the UK.
Part Two of the book has four chapters that address more focused subjects. The first of these, ‘Work, Leisure, and Human Fulfillment’, sets out a valuable survey of Christian thinking through history on this theme, with the conclusion that ‘true leisure is not utilitarian’ (p. 77), and that both work and leisure are about human realisation. As a stand-alone section this would make good reading for anyone wanting a critique of a self-contained neo-classical economic world-view. However, the other three chapters in Part Two resonate more strongly with Gorringe’s Marxist theme, as they tackle the subjects of alienation, solidarity, resistance, and social justice. Gorringe looks for a ‘rejection of the individualism which divides people and sets them against each other, affirmation that humanity consists in working together’ (p. 102). While this is indeed a hopeful broad vision to set forth, as I read these words I found myself wondering whether it takes seriously enough the way in which entrepreneurial energies operate within the economy.
Part Three is given the over-arching heading ‘The Common Treasury’, in which Gorringe explores the subjects of personal property, inequality, planning and ecology. His general approach is one that advocates a socialist ‘control’ of the economy, and at one point he states that ‘some kind of global planning is needed’ (p. 140). Part Four then consists of a single final chapter, entitled ‘Two Ways’, in which Gorringe mounts a strong attack on global capitalism. It was here that I was surprised but pleased to stumble across a reference to the economist Joseph Schumpeter. His work had been used as ammunition within a 1980s debate between the Roman Catholic bishops of the USA and some prominent Catholic lay people. Reading this section carefully, my impression was that Gorringe brackets Schumpeter with a more general neo-classical take on economic theory, and then summarily lambasts them both. However, I would argue that he has missed something here, and that a more careful look at the contrast between Schumpeterian economics and the neo-classical approach would have been fruitful. In fact, Schumpeter has been taken in a Marxist direction, notably by Paul Sweezy, and I wondered if Gorringe might have changed his line if he had been aware of this.
On almost the last page of the book I then found this sentence: ‘There is nothing intrinsically wrong with enterprise, initiative and ownership. What is wrong is when these are harnessed to profit, power, self-aggrandisement, and inequality.’ (p. 166) As a programmatic statement this felt promising to me, but I struggled to see how large parts of the book itself could be taken to support or develop it. Rather, for Gorringe any sense of enterprise or initiative seems essentially to be subsumed within a Marxist superstructure, and the need for human cooperation to be played out in a society marked by planning and control. In the end, therefore, I found this book to be a helpful foil against which I wanted to put forward different ideas connected to human enterprise. However, as a major contribution in the field of theological ethics and economic theory its importance cannot be doubted.
“Capital and the Kingdom: Theological Ethics and Economic Order” was published in 1994 by SPCK/Orbis Books (ISBN 10: 0-281-04773-1)
Edward Carter is Vicar of St Peter Mancroft Church in Norwich, having previously been the Canon Theologian at Chelmsford Cathedral, a parish priest in Oxfordshire, a Minor Canon at St George’s Windsor and a curate in Norwich. Prior to ordination he worked for small companies and ran his own business.
He chairs the Church Investors Group, an ecumenical body that represents over £10bn of church money, and which engages with a wide range of publicly listed companies on ethical issues. His research interests include the theology of enterprise and of competition, and his hobbies include board-games, volleyball and film-making. He is married to Sarah and they have two adult sons.
“Why Business Matters to God” is addressed to Christians. Jeff Van Duzer, now Provost of Seattle Pacific University and formerly Dean of its School of Business and Economics, suggests that Christians in business “have often been made to feel like second-class citizens in God’s kingdom” (page 9). His aim is to counter the attitudes that underlie this by affirming the intrinsic value of business work “as work full of meaning and importance to God”, whilst at the same time challenging what he describes as the “dominant business paradigm of the day” (page 9). The result is an excellent, well-argued and thought provoking book that should be read by all Christians engaged in business.
Van Duzer undertakes his task by using a theological framework, considering in successive chapters the implications for business of the biblical accounts of creation, fall, redemption and consummation.
From the creation story, he concludes that the material world matters to God, that human beings are called to steward God’s creation and that we are made to work (i.e. that work is not a punishment or a necessary evil). He notes that society has many institutions (e.g. families, churches and governmental bodies) and asks “which aspects of the creation mandate are best suited for business to handle?” (page 41). He points to the role of business in the creation of wealth and concludes that the intrinsic purposes of business are “to provide the community with goods and services that will enable it to flourish, and … to provide opportunities for meaningful work that will allow employees to express their God-given creativity” (page 42).
At this point, the reader may feel that the account of business is too rosy but this issue is squarely addressed in the next chapter, which considers the implications of the fall. Here Van Duzer parts company with the more extreme free market enthusiasts (both Christian and non-Christian) by stressing that “the market will not usher in the kingdom of God” (page 75) and suggesting that the market mechanism is an aspect of common grace that mitigates some of the consequences of the fall. He stresses that we cannot “equate market forces with God’s perfect will” (page 79).
Having done this, Van Duzer reverses the logical theological order and leaps on to consider what the biblical account of ultimate salvation (“consummation”) can teach us that is of relevance to business. In doing so, he heads into stormy theological waters as he assesses the relative merits of adoptionism and annihilationism as an explanation of how God’s new heaven and new earth will be inaugurated. He sides with the “cautious adopters” (page 94) but those who don’t take this view will be pleased to hear that it is not central to his argument and he acknowledges that “any conclusions we may reach must be held lightly” (page 83). This result is that this part of his analysis is less fruitful than other parts of it.
He next considers redemption and suggests that business must “concern itself with redemptive as well as creative work” (page 114), whilst accepting that it is operating within the “messy middle” (page 118). In this context, he rejects both the cynicism of those who suggest that “Business ethics is an oxymoron” and the optimism of those who argue that “Good ethics is good business” in the sense that there will always be a bottom line benefit for those practicing good ethics.
Van Duzer recognises that our attitude to business will turn to a considerable extent on our view of how Christians should engage with the world (what he calls our “posture of engagement”) and also upon our attitude to institutions of all kinds in the modern world. He devotes an “excursus” to each of these issues, of which the first is particularly helpful. It adopts Niebuhr’s typology (“Christ against culture”, “Christ of culture”, “Christ above culture”, “Christ and culture in paradox” and “Christ the transformer of culture”) and demonstrates how our answers to several key theological questions are likely to determine which type of cultural engagement we adopt and, specifically, our view of the role of business.
The final quarter of the book is less well structured than it might have been and parts of it would have better merged with the earlier chapters. None-the-less, it contains some worthwhile discussions of important issues such as business sustainability (in the broad sense) and, most importantly, the role of profit and enhancing shareholder value. Van Druzer recognises the essential instrumental role of profit but denies it any greater significance, specifically rejects the notion that the maximisation of profit or shareholder value is a primary goal of a business.
Although published under the IVP Academic banner, this is not an academic work. It does not interact extensively with other literature and it has no bibliography, although it makes good use of footnotes that may suggest further reading.
It is a short book and could not possible consider all of the angles on its subject. None-the-less, it would have been helpful had Van Duzer considered questions that arise from his dethroning of profit and shareholder value: Might this result in a loss of focus on efficiency and thus reduce wealth creation? How can managers be rendered accountable for the delivery of goals that cannot be quantified or otherwise clearly measured? If shareholders in a public company appoint and remove them, will the directors not always focus on the maximisation of shareholder value? Who might enforce any broader directors’ duties? Van Duzer is a lawyer by background and his views on these issues would be interesting.
Despite the final chapter’s focus on “making it real”, many readers may be left wondering how it is possible to translate Van Duzer’s vision of business into practice in a secular Western business context. This is a significant issue. However, the purpose of this book is to provide a Christian conceptual framework for business not to analyse in detail its implications in relation to day to day management. Addressing these implications would require another book and perhaps the only significant criticism that can be levelled at Van Duzer is that he hasn’t yet written it!
“Why Business Matters to God” was published in 2010 by InterVarsity Press (ISBN 10: 0830838880). 201pp.
Richard Godden is a Lawyer and has been a Partner with Linklaters for over 25 years during which time he has advised on a wide range of transactions and issues in various parts of the world.
Richard’s experience includes his time as Secretary at the UK Takeover Panel and a secondment to Linklaters’ Hong Kong office. He also served as Global Head of Client Sectors, responsible for Linklaters’ industry sector groups, and was a member of the Global Executive Committee.
The concept of “the common good” dates back at least to Aristotle and has been used by political theorists, moral philosophers and economists down the ages, including people as diverse as Thomas Aquinas, John Locke and Adam Smith. It is a basic concept in Catholic social teaching and is easily understandable by all. However, it is not familiar today in discourse about the purpose and role of business.
Wong and Rae want to change this. They suggest that, “it is an important time to reconsider what business, and our current or future participation in it, is all about” (page 28) and they undertake this reconsideration by first considering the purpose of those engaged in business. They suggest that, “The idea that business can be a calling is becoming more widely appreciated and accepted” but that “what exactly business is a calling to needs much more exploration” (page 33; the emphasis is theirs). They then launch into the required exploration. The first part of this leads to the conclusion that business is a calling “to transformational service for the common good” (page 76) and the implications of this are then worked through.
Business for the Common Good forms part of the InterVarsity Press “Christian Worldview Integration Series” and is, thus, written primarily for Christians. However, Prabhu Guptara observes in his endorsement that “Nothing in this book prevents it enriching the lives of Hindus such as myself – or, as far as I can see, those of Buddhists, Muslims, agnostics or atheists!” He is right. The book’s conclusions do not depend upon any theological propositions other than a general view of God and the World that will be shared, at least in its more important features, by millions of people of various faiths and, at least in relation to its view of the World, by many of no faith. Furthermore, although the Series Preface suggests that college students may be a primary target audience, the book is likely to assist a far wider audience, including those who have been in business for many years. Some readers will find its lack of interaction with other literature a downside but others will welcome the fact that it does not assume any prior reading and deals with issues from first principles.
After an over long Series Preface and their (shorter) Introduction, Wong and Rae helpfully examine the purpose of work, addressing the question whether work has merely an instrumental purpose or whether it also has an intrinsic purpose. Put simply, do we work merely to live or do we live to work? Many, perhaps most, people today would say that they work to live and for the poor this may seem obviously true but Wong and Rae seek to re-establish the idea that, as Martin Luther said, “The entire World is full of service to God, not only in the Churches but also the home, the kitchen, the cellar, the workshop and the field of the townsfolk and farmers” (page 60). As Wong and Rae put it, “Our work can serve as an altar” (i.e. an act of worship; page 46).
On this basis, they ask whose interests business should serve. It is their analysis of this that leads to what they describe as their “Christian vision for business” (page 76) and hence to their basic proposition that the calling to business is a calling to transformational service for the common good.
Having laid these foundations, they then turn to a series of specific issues: how involvement in business can result in negative effects on our character but how it can also transform us for good (which they rightly describe as a “rarely examined question”; page 37); what our attitude towards wealth, success and ambition should be; how we should respond to globalisation; ethics in the work place; business leadership and management; marketing; and stewardship and sustainability. Finally, they turn to what they describe as “several exciting (and very inspiring) ways that emerging practices and organisations are moving business towards becoming proactive and intentional partners in solving social problems” (page 38).
This is a huge amount to cover in a relatively short book and some parts of the book may leave the reader feeling a little short changed. However, this is not a superficial book or one that deals in generalities. It is closely argued and it is careful to explain both its starting points and its logic. It is also good to see issues such as the ethics of marketing addressed head on rather than in passing and, more generally, to have work place ethics placed in the broader context of the purpose of business rather than considered in isolation.
More seriously, many may question whether it is realistic to expect society as a whole to adopt Wong and Rae’s view of the purpose of business and whether it is even worth attempting to persuade society to do so. Wong and Rae are ethicists not business people and on occasions this is revealed in a lack of sophistication in the examples of business situations that they give. Furthermore, their view of the world leans towards the optimistic end of the theological spectrum (being in Niebuhr’s “Christ the Transformer of Culture” category and, in some respects, leaning towards his “Christ of Culture” category) and many will wish to question this optimism.
Wong and Rae recognise these issues and seek to address them. Not all of what they say is wholly convincing and they leave many unexamined issues (e.g. with regard to the role of competition). However, the points that they make should at least cause those who are more pessimistic, whether from experience or theological conviction, to analyse their views and perhaps conclude that, even if they are right to be pessimistic, Wong and Rae’s basic suggestions are worth pursuing.
Business for the Common Good provides an overview of its subject matter and, if it leaves readers with many questions requiring further exploration, that is for the good. Wong and Rae state that their intention is “to plant seeds, deepen conversations and enable changed outlooks, purposes, values and practices” (page 285). Their book should achieve this goal.
“Business for the Common Good” was published in 2011 by InterVarsity Press (ISBN 10: 0830828168). 288pp.
Richard Godden is a Lawyer and has been a Partner with Linklaters for over 25 years during which time he has advised on a wide range of transactions and issues in various parts of the world.
Richard’s experience includes his time as Secretary at the UK Takeover Panel and a secondment to Linklaters’ Hong Kong office. He also served as Global Head of Client Sectors, responsible for Linklaters’ industry sector groups, and was a member of the Global Executive Committee.
With Liberty & Justice for Whom? is an analysis of the views of conservative Protestants about capitalism. It was written a quarter of a century ago and its focus is on U.S. writers. It is thus dated in parts and, in any event, many outside the U.S.A. will feel that Gay’s analysis is not wholly applicable to their context. Some will also find tiresome its almost obsessive quoting of other scholars, which betrays its origin as a doctoral dissertation. Nonetheless, the issues raised by it are of long-term general significance and, whilst Anglo-Saxon evangelicals are likely to benefit most from reading it, it could be read with profit by other Christians, those of other faiths and, indeed, anyone who wishes to consider the reasons why people who apparently share a common religious or philosophical starting point disagree so vehemently about economic and societal issues.
Gay divides evangelical intellectuals into three groups: the left (which, he suggests, essentially regards capitalism as oppression); the right (which, he suggests, has primarily engaged in the defence of capitalism against the critics of the left); and the centre (comprising those “whose appraisals of capitalism are neither wholly negative nor entirely positive” but who regard capitalism as a “cause for concern”; page 116). He examines the views of many people within each group, considering the essentials of their economic and political views as well as the way in which they use the Bible to support these views.
The first two-thirds of the book is largely descriptive, albeit interwoven with comment and evaluation. Gay then moves on to analysis. He believes that it is “clear that capitalism as such is not the only thing at issue in this debate but that the various evangelical factions are contending for entirely different socio-cultural visions of American society” (page 161). However, he points out that the difference between the competing views “is not a matter of competing moral and ethical paradigms but of disagreement on the question of whether capitalism promotes or prevents the realisation of the norms and values they hold in common” (page 166).
Gay attempts to use the “new class” theory of the Austrian born American sociologist Peter Berger in his analysis. He argues that those on the evangelical left are reflecting their membership of this new class (broadly those engaged in what he calls the “knowledge industry”) whilst those on the right reflect the attitudes and interests of the old middle class (occupied in the production and distribution of goods and services). He suggests that both evangelical groups have engaged in a process of “cognitive bargaining” with the secular world and, in particular, in their analyses, have compromised the more transcendent, or “other worldly”, elements of evangelical faith. He also asserts that “Both the evangelical left and right have succumbed to an ideological abuse of Scripture and a de facto (and occasionally explicit) confession of the ultimacy of economic life” (page 203).
Many of Gay’s assertions and suggestions are contentious. For example, he admits that his use of the new class theory is “provocative, to say the least” (page 203). Furthermore, one may question whether his categorisation of evangelical views (which he admits is arbitrary) is helpful. Is the analysis assisted by lumping Theonomists and Christian Reconstructionists together with Brian Griffiths and Peter Hill? Do those in what Gay terms the “evangelical mainstream” (whose views are moderately right of centre) really have much in common with the views of what he terms “progressive evangelicals” (whose views fit much more comfortably with the left wing analysis)? Gay observes that the “evangelical centre” has no economic programme, which suggests that it is not a real category worth examining. It might have been better had he examined the extreme right, the moderate right and the left (which Gay recognises is a more coherent group than the others).
Gay was doubtless conscious of the danger of being accused of criticising everyone else’s views without offering a view of his own but he wisely avoids entering into the detail of the economic and theological debate. Instead, he offers suggestions as to a way forward in the debate, which are set out in a 33 page “Epilogue”. Unfortunately, this part of the book is disappointing There is little to object to in what he says but the language used, particularly in the first part of the Epilogue, is less clear than might be desired and, overall, his suggestions do not add much to the debate. Furthermore, although he seeks to avoid taking sides, those on the evangelical left are likely to feel that he is in fact laying the foundations of an essentially right of centre viewpoint without fully justifying his position.
These are significant failings but they should not put anyone off reading this book. It provides a wealth of food for thought and challenges: Why is it that evangelical economic debate so closely mirrors the corresponding secular debate, albeit with the addition of Biblical analysis? How much of the evangelical contributions to economic debate derives from the Bible, how much from secular assumptions and how much the compromise with the groups in which the relevant authors move or a reaction against these groups? To what extent are arguments caused by a disagreement as to whether criticism of the existing economic order is to be based on a comparison with an ideal or a comparison with practically available alternatives? Should the debate focus on the detail of capitalist economics or will progress only be made if the underlying assumptions and issues relating to our concept of society are addressed? Specifically, are those debating capitalism and other economic models guilty of a failure to examine whether terms like “liberty” and “justice” are being used by everyone in the same sense?
These questions are well worth considering and, by raising them in the context of a detailed analysis of the spectrum of evangelical opinion, Gay provided and, 25 years on from his book’s original publication, continues to provide an excellent foundation for further thinking.
“With Liberty and Justice for Whom?” was reprinted in 2000 by Regent College Publishing (ISBN 10 1573831328).
Richard Godden is a Lawyer and has been a Partner with Linklaters for over 25 years during which time he has advised on a wide range of transactions and issues in various parts of the world.
Richard’s experience includes his time as Secretary at the UK Takeover Panel and a secondment to Linklaters’ Hong Kong office. He also served as Global Head of Client Sectors, responsible for Linklaters’ industry sector groups, and was a member of the Global Executive Committee.
The Tides of Life is impossible to categorise: it is not an autobiography, although the majority of it comprises autobiographical material; it is not a business leadership and management manual, although it contains a lot about leadership and management; and it is not a systematic work about Christian living, although it is full of guidance about just that.
Bill Pollard was for many years the CEO of ServiceMaster, the much studied and admired former Fortune 500 Company. Prior to that, he was, for a time, a practising lawyer in private practice and, for a brief period, an academic. Throughout his life he has been involved in educational projects and charities. He has seen much success, including the extraordinary growth of his company, but has also experienced the varying “tides of life”, including the early death of his father and, recently, the death of an evidently much loved grandson (who appears on the cover of this book). Now, in the evening of his life, he has written a book about what he calls the “lessons and choices in life”. Essentially, it is an overview of what he has learned through his many and varied experiences.
The result is a structured miscellany: there are reflections on what “our humanity is all about” and on God’s ordering of the world; thoughts about responsibility and stewardship; discussions of the nature of work of and purpose of business, the role of leaders and managers and how God may be served by those in business; and, last but not least, reflections on the importance and nurturing of relationships. In all cases, Bill Pollard teaches by means of stories from his own life, which are placed within the framework of a biblical world view.
Happily, in recent years there has been a considerable upsurge of interest in the calling of Christians to serve God throughout their everyday lives rather than through some detached “Christian service” element of them. Bill Pollard believes passionately in this calling and wishes to pass on what he has learned about how to put the theory into practice. He is clearly a man who has never stopped learning and, judging by the number of times he quotes what others have said to him over the years, a man who never forgets advice that he has been given. Above all, he is a man who believes in providence and who lives his life in the light of Proverbs 19:21 (“Many are the plans in a man’s heart but it is the Lord’s purpose that prevails”), which is quoted at the head of one of the chapters of his book.
Arguably, he tries to cram too much into the space available. For example, the seventeen pages devoted to good corporate governance include matters as diverse as the ideal size for a corporate board and comments regarding what went wrong in the banks in the run up to the global financial crisis. Some business people will find this section of the book superficial. However, this is a quibble rather than a serious criticism.
More significantly, even having read Bill Pollard’s fierce criticism of the results of the absence of morality in the market place, some Christians may question the merits of the market economy to which he is committed and may be disappointed that he largely asserts these benefits rather than arguing for them in an academic manner. He similarly asserts his Christian world view rather than seeking to defend it. This, however, merely reflects the nature of the book: it does not purport to be a work of free market or Christian apologetics. It is thus unlikely to persuade a reader to accept its basic premises. However, it demonstrates how these premises may be lived out in practice and may cause sceptics to ask themselves whether this might indeed be the way that we should live our lives. Furthermore, if like me you agree with the premises, you will find here a mine of practical Christian teaching and advice.
This is not a book to read quickly. It is worth reading in short sections over a prolonged period of time, reflecting on each part of it before moving on to the next part. It may be impossible to categorise but it is none the worse for that.
“The Tides of Life” by Bill Pollard was first published in 2014 by Crossway Publishing (ISBN 1433541742, 9781433541742).
Richard Godden is a Lawyer and has been a Partner with Linklaters for over 25 years during which time he has advised on a wide range of transactions and issues in various parts of the world.
Richard’s experience includes his time as Secretary at the UK Takeover Panel and a secondment to Linklaters’ Hong Kong office. He also served as Global Head of Client Sectors, responsible for Linklaters’ industry sector groups, and was a member of the Global Executive Committee.
Today the role of the Christian church in business seems to be mainly, in England anyway, as a vocal critic of the capitalist system. Business and wealth creation– let alone the dreaded banking industry – is viewed with suspicion in many Christian circles. The role of addressing the ills of society seems, as far as I can understand the Church of England’s views, to be the responsibility of the state, not business and certainly not Christians in business. Sadly, we have lost our Christian history. For there was a time when a rather small and one might say unusual group of Christians had a profound impact on England’s’ business, banking and society. These were the Quakers, the subject of this new book. Quaker business had an impact out of all proportion to the size of its community which was but a few thousand. For out of the Quakers came banks – Barclays, Lloyds, food – Cadbury, Rowntree’s, Fry’s, insurance – Friends Life manufacturing – huge numbers of iron businesses following Abraham Derby, shoes – Clarks and many more in chemicals, pharmaceuticals and other sectors. Not only were these businesses successful they treated their employees and customers with an unusual degree of care and concern: in fact one might say they were successful precisely because they applied Christian values in this way.
This short and insightful book is by Richard Turnbull, previously Principal of Wycliffe Hall and now Director of the Centre for Enterprise, Markets and Ethics (CEME). CEME has been set up by Brian Griffiths and others to try and apply Christian principles to business and wealth creation. Turnbull not only covers the history detailed above but more importantly draws some thought provoking lessons for today. Firstly, the Quakers had a living Christian faith. Quakerism had both the “inner light” thinking of its founder George Fox but also, up until around 1850, a strongly biblical “evangelical” side, which may come as a surprise to those of us more familiar with modern Quaker thinking. This was personified by the Gurneys, one of the main families who founded Barclays and the biblical thinking from the evangelical wing provided an objective biblical framework for business – a clear moral code. Secondly, they were highly successful family businesses working in a rich network of other family businesses. The sense of shared values and making money to use it for the good of society characterised their thinking and came directly from their family ownership. “The idea of (the) family encapsulates both purpose (for today) and stewardship (for tomorrow)” says Richard Turnbull. Thirdly and perhaps most importantly, they believed that business has a moral responsibility to create wealth, not for its own sake, let alone to be spent selfishly, but as stewards of God to use their wealth for the good of others. Hence the Quakers intense interest in education and model housing (Bournville being the most famous example).
The Quakers were not perfect, the book points out. Ironically much of their drive and network came because they were discriminated against and excluded from Oxbridge and the professions (some might think that not going to Oxbridge was precisely why they were successful in business!) As the evangelical fire waned during the C19th and as they became richer and more successful, some of the sense of stewardship was lost. Sadly, many of the most vociferous opponent of Lord Shaftsbury’s factory reforms – such as stopping small children as young as 6 or 7 going down mines – were the Quakers. Their businesses became larger and the families often lost interest, selling out and losing their shared values. The introduction of limited liability in 1856, notes Turnbull, was a particular turning point. (The very idea of limited liability was originally regarded as “immoral” – as was advertising!) The whole movement began to weaken and many family businesses sold up, the most obvious example of course is the sad fate of Cadburys. But this interesting, concise and well researched book by a leading expert in applying Christian thinking to business points out that there are important lessons we can learn from the Quakers, whether Christians or not. Even for the person who would not call themselves a Christian, then the Quaker formula – which we might say is shared moral values + common purpose + discipline + building trust and treating customers and staff well + family businesses with owners who view their wealth as for the good of society = good business – will never go out of fashion.
“Quaker capitalism: Lessons for today” by Richard Turnbull was first published in 2014 by the Centre for Enterprise, Markets and Ethics (ISBN 1-910666-00-5).
Jeremy Marshall is the Director and Chief Executive of C. Hoare & Co private bank.