Difference between revisions of "User:RobertC/Consecration and capitalism"

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* [http://sociology.byu.edu/courses/rjohnson/Wealth%20and%20Poverty.htm Richard Johnson] (BYU prof of sociology) on "Wealth and Poverty". (Link provided from [http://www.timesandseasons.org/?p=3371#comment-208378 this] comment from RAF's ''T&S'' blog.)
* [http://sociology.byu.edu/courses/rjohnson/Wealth%20and%20Poverty.htm Richard Johnson] (BYU prof of sociology) on "Wealth and Poverty". (Link provided from [http://www.timesandseasons.org/?p=3371#comment-208378 this] comment from RAF's ''T&S'' blog.)
* ''Lindon J. Robison''
:* [http://maxwellinstitute.byu.edu/publications/jbms/?vol=1&num=1&id=2 "Economic Insights from the Book of Mormon"], ''Journal of Book of Mormon Studies'': Volume - 1, Issue - 1, Pages: 35-53 (1992).
* ''Hugh Nibley''
* ''Hugh Nibley''

Revision as of 09:56, 11 August 2010

Teaching corporate finance at BYU, a natural question for me to contemplate is the extent to which the culture and principles of corporate capitalism are compatible with a life committed to the law of consecration.

Related scriptural topics include: Zion, the United Order, materialism, idolatry, taking care of the poor, greed, etc.

Key issues

  • Debt
  • Deut 15:2: Every 7 years Israel was told to forgive all debts. This would be very difficult to implement in a capitalist system (but not impossible--think of an all equity economy).
  • Hugh Nibley discusses this in Approaching Zion p. 186.
  • Many church leaders have warned against debt. Where can one find those quotes
  • Love of money vs. love of God: The fiduciary responsibility of corporate executives is to maximize shareholder value. If one's job is to focus on creating money for shareholders, does this constitute a 2nd master in the sense Christ warned?
  • Stewardship and talents: The parable of the talents seems similar to a CEO's responsibility to maximize return for shareholders. What are the similarities and differences? How is the concept of stewardship related to private property?

Other scriptures and issues

  • Love of money is the root of all evil (2 Timothy I think)
  • United order passages in D&C

LDS perspectives on capitalism

  • Richard Johnson (BYU prof of sociology) on "Wealth and Poverty". (Link provided from this comment from RAF's T&S blog.)
  • Lindon J. Robison
  • Hugh Nibley
  • Approaching Zion has many thoughts on how capitalism and corporate jobs take one away from core principles of the gospel.
  • Noel Reynolds--see vitae for sources and other essays
  • "Mormonism, Capitalism, and the Rule of Law"
  • Bryson, Phillip J., "In Defense of Capitalism: Church Leaders on Property, Wealth, and the Economic Order " (1999), BYU Studies v. 38(3), pp. 89-107.
  • It seems likely that this paper was sparked by Nibley's arguments against capitalism in essays such as those in Approaching Zion. (An electronic version of this paper can be ordered for free, I think through the BYU Studies homepage.)
  • Hal Heaton
  • Bob Crawford
  • Interesting articles at end of vitae (mostly working papers, I'll request copies)
  • Mike Pinegar: BYU devotional on talents and the principal-agent problem
  • Ezra Taft Benson
  • Red Carpet(?)
  • The Constitution: A Heavenly Banner: Quotes and TOC can be found at the link
  • David O. McKay: He seemed to have a lot to say against coomunism (and socialism? any pro-capitalism qoutes?)
"...[T]he scriptures warn us about the dangers of being rich, and denounce the rich's tendency to oppress the poor. As we consider how the Democratic party has championed the financially disadvantaged, has been wary of concentrations of wealth, has realized the practical necessity of scrutinizing the management of companies, we can conclude that the Democratic party is closer to the gospel on this issue than is the Republican party."
  • H. Dennis Tolley (BYU Stats Prof.)

Efforts to help the poor


  • Change the World: A Call to Action by Warner Woodworth (January 1, 2007). This blog post summarizes some of Prof. Woodworth's experiences with students. There are some book recommendations in the comments I'd like to check out. (This is an area of research I'd eventually like to take up professionally, and is actually a large reason I began studying economics in the first place....)

Related links

Makes a strong statement in defense of cooperation.
  • Papers
  • Blog threads
Follow-up to this T&S' post. Asks about government redistribution and individual agency.
Discussion of Joseph in Gen 47 regarding private property.
Discussion of theories of property.
Discussion of information economics and the United Order.
Discussion of consequentialist and aretaic approaches to the poor in scripture.
The name says it all.
Discussion of the legal organization of the Utah era United Orders.
The answer is yes, sorta, kinda, maybe...
Tubers as ground zero for the discussion of Mormonism and capitalism
What's relationship between righteousness and wealth? (Cf. Deut 28:2-8.)
  • Blog: Latter-day Saint Liberation Front