‘At the end of this lesson, the students should be able to: 1. identify the classical philosophies and philosophers; describe those philosophies'implications for business principles and practices; 3. compare and contrast classical philosophies as they relate to the business setting; and awn . give examples of how belief systems affect business practice. The Classical Philosophers and Their Philosophies Plato At one time in the history of Western philosophy, theories of higher reality were commonplace. The most influential of these was offered by the ancient Greek philosopher Plato (428-348 BC), student of the equally great philosopher Socrates, By almost any standard, Plato ranks among the greatest philosophers of the world, and many scholars view him as the most important philosopher of Western civilization. We find in Plato a drive for absolute truth that goes beyond the merely popular opinions of the multitudes. We also find in Plato a conviction that the physical world around us is merely a pale copy of the true teality of things that exist on a higher objective plane (Fieser, 2003). Having been inspired by the field of mathematics, Plato-held that moral values are objective in the sense that they exist in a spirit-like realm beyond subjective human conventions. He held that they are absolute, or eternal, in that they never change, and also that they are universal insofar as they apply to all rational creatures around the world and throughout time. When we look at numbers and mathematical relations, such as 1+ 1= 2, -they seem to be timeless concepts that never change, and apply everywhere in the universe. Humans do not invent numbers and humans cannot alter them. Plato explained the eternal character of mathematics by stating that they are abstract entities that exist in a spirit i ke realm. He noted that moral values are also absolute truths and thus are also abstract, spirit- like entities. In this sense, for Plato, moral values are spiritual objects. Plato largely shares the teaching of his master, Socrates, to make all virtue intellectual, a doctrine expressed in the formula, virtue is knowledge; which is tantamount to this other, vice is ignorance, or ‘an erroneous view. Whence the conclusion is inevitable: No evil deed is wilfully done; and therefore, No man is to blame for being wicked (Coppens, 1895). ; Business Ethics and Socal Responsibility q Scanned with CamScannerAristotle ‘Aristotle was born In 384/3 BC at Stageira in Thrace, a he a physician of the Macedonian king, Amyntas ll, When he pa aut caer Aristotle went to Athens for purposes of study and became a member of the meat 368/7 BC, where for over twenty years he was in constant dialogue with Plato unite latter’s death in 348/7 BC. He thus entered the Academy at the time when Plato's la le dialectic was being developed and the religious tendency was gaining ground in the ea philosopher's mind. Sreat 7 The ethics of Aristotle are teleological (from the Greek telos, which means“end"):hejs concerned with action, not as being right in itself irrespective of any other consideration, but with action as conducive to man’s good, What conduces to the attainment of his goog orend will be a“right” action on man’s part; the action that is opposed to the attainment of his true good will be a“wrong"action. "Every art and every inquiry, every action and choice, seems to aim at some good; whence, the good has rightly been defined as that at which all things aim.” Aristotle sets himself to discover what this good is and what the science corresponding to it is (Copleston, 1993). at we acquire, which regulate our Aristotle argued that virtues are good habits th g of fear, one should develop the emotions. For example, in response to a natural feelin Virtue of courage, which allows a person to be firm when facing danger or fear. Analyzing 11 specific virtues (namely: courage, temperance, liberality, magnificence, honor, good temper, friendliness, truthfulness, wit, friendship, and justice), Aristotle argued that most virtues fll at a mean between more extreme character traits. With courage, for example, if one does not have enough courage, he/she will develop the disposition of cowardice, which isa vice, fone has too much courage, he/she will develop the disposition of rashness, which is alsoa vice. According to Aristotle, it is not ‘an easy task to find the perfect mean between extreme character traits. In fact, everyone needs assistance from reason to do this (Fieser, 2003). Immanuel Kant. Kant was born at Kénigsberg on April 22, 1724, and a son of a saddler. Both as a child at home and at the Collegium Fridericianum, where he studied from 1732 until 1740, he was brought up in the spirit of the pietist movement. He continued to appreciate the good qualities of sincere pietists throughout his life but itis evident that he reacted rather sharply against the religious observances to which he had to conform at the college. In March 1770, he was appointed “ordinary” professor of logic and metaphysics at K6nigsberg. During this period; he moved from rejecting the Leibniz-Wolffian system of philosophy to beginning *®. work: ut bs own ren system. Itwas in 1781 that his famous Critique of Pure Reaso” appeared; during the intervening eleven years, Kant was thinkin i i e 7 \g out his philosophy. Once the first edition of Critique of Pure Reason had appeared in 1781, Kant's ‘ther farnous wings followed in quick succession. Among others, the Critique of Practical Reason came out in 1788, and the Critique of Judgment in 1790 (Copleston, 1960). : Gt na : 7 i ee igh emphasizes a single principle of duty. Influenced. by Pufendorf, Kant sae ate isco duties to'oneself and others, such as developing one’s talents: @s to others. However, Kant argued that there is a more foundation®! 5 \ 6. rit | 5) Foundations of he Principles of Busiriass Ethics Scanned with CamScanneres | principle of duty that encompasses our particular duties. It is a single, self-evident pri of reason that:he calls the ‘categorical imperative” A categotical imperative, fy Principle Cr ndamentaly diferent from hypothetical imperatives that hinge on Sone ated, 1 that we have, for example, "If you want o get a good job, then you A Personal esege’ By contrast, a categorical imperative simply mandates an action, in Ght to go to cos personal desires, such a5 “You ought to do X:'Kant gives a least four En Paes of cregorical imperative, but one is especially drect Treat people as an end, los ofthe cr to an end. Thats, we should always treat people with dignity, andneverusetha ie aretninstruments For Kant, We treat people asan end whenever ouractions towards ae mipect the inherent value ofthat person. Donating to charity, for example is morllyeore + since this acknowledges the inherent value of the recipient. By contrast, we iit ae sneteans to an end whenever we treat that person as a tool to achieve something leg +s rong, for example, to steal a neighbor’ car since that would be treating hinvher as treans to one’s own happiness. The categorical imperative also regulates the morality of irvjons that affect us Individually, Sulcide, for example, would be wrong since | would be treating my life as a means to the alleviation of my misery. Kant believes that the morality ofall actions can be determined by appealing to this single principle of duty (Fieser, 2003). Utilitarianism as an Example of a Consequentialist Theory Consequentialist theories became popular in the 18th century by philosophers who wanted a quick way to morally assess an action by appealing to experience, rather than by appealing to gut intuitions or long lists of questionable duties. Jeremy Bentham presented one of the earliest fully developed systems of utilitarianism. Two features of his theory are noteworthy. First, Bentham proposed that we tally the consequences of each action we perform and thereby determine on a case to case basis whether an action is morally right or wrong. This aspect of Bentham’s theory is known as act-utilitiarianism. Second, Bentham also proposed that we tally the pleasure ‘and pain which result from our actions. For Bentham, pleasure and pain are the only consequences that matter in determining whether ‘our conduct is moral. This aspect of Bentham's theory is known as hedonistic utilitarianism. Critics point out limitations in both of these aspects. = pee te time on leisure First, according to act-utilitarianism, it would be ore pene i etal octal activities such as watching television, since our time could be spent in ays not a greater social benefit, such as charity work. But poh ae peaiic acs oftttive seem reasonable. More significantly, accord a = wee actions outweighed of slavery would be morally permissible if the Fr ernaianism aareses these the disbenefit. A revised version of utilitarianism cated ral a ets morally right i the problems, According to rule-utiitarianism, 2 behavior code 6 re ple to every. consequences of adopting that rule are more favoral particular action, rule Unlike acttilitarianism, which weighs the com ules, such as “stealing is utilitarianism offers a litmus test only for the m ie sequences than ° te inst. the wrong." Adopting @ rule 2 one The same is unfavorable consequences fore rules against lying or judging conduct. A dering. Rule-utilitarianis™. then, offer a tivestlred metton for judging murdering. Rule-utili , f te particular action, such asstealing my ‘neighbor's canis) sequences of lity of moral r more favoral since it violates a moral Scanned with CamScanner* tule-oriented. Second, according to rule against theft. In turn, the rule against theft Is morally binding because sorta ts Tule produces favorable consequences for everyone. John Stuart Mills version of utilitarianism i. hedonistic utilitarianism, pleasurable consequences are the only factors that matter, morally speaking. This, though, seems ioe restrictive since it ignores other morally significant consequences that are not necessarily pleasing or painfy, For example, acts which foster loyalty and friendship are valued, yet they are not always pleasing. In response to this problem, GE. Moore proposed ideal utilitarianism, which involves tallying any consequence that we intuitively recognize as good or bad (and not simply as pleasurable or painful). Also, RM. Hare proposed preference utilitarianism, which involves tallying any consequence that fulfills our preferences (Fieser, 2003). Augustine Born at Tagaste in the Province of Numidia (today’s Algeria), North Africa on November 13th, 354 AD, Augustine came from a pagan father, Patricius, and a Christian mother, st, Monica. His mother brought up her child as a Christian, but Augustine's baptism was deferred, in accordance with a common, if undesirable, custom at that time. The child learnt the rudiments of Latin and arithmetic from a schoolmaster of Tagaste, but play, at which he wished always to be the winner, was more attractive to him than study, and Greek, which he beganaftera time, he hated, though he was attracted by the Homeric poems considered asa story. In about 365 AD, Augustine went to the town of Madaura, where he laid the foundation of his knowledge of Latin literature and grammar. Madaura was still largely a pagan place, and the effect of the general atmosphere and of his study of the Latin classics was evidently to detach the boy from the faith of his mother, a detachment which his year of idleness at Tagaste (369-370 AD) did nothing to mitigate. In 370, the year in which his father died after becoming a Catholic, Augustine began the study of rhetoric at Carthage, the largest city he had yet seen. The licentious ways of the great port and centre of government, the sight of the obscene rites connected with cults imported from the East, combined with the fact that ‘Augustine, the southerner, was already a man, with passions alive and vehement, led to his practical break with the moral ideals of Christianity. It was soon after reading the Hortensius of Cicero, which turned the youth's mind to the search for truth, that Augustine accepted the teaching of the Manichaeans, which seemed to offer him a rational presentation of truth. If Christians maintained that God created the whole world and that God is good, how then, could they explain the existence of evil and suffering? The Manichaeans maintained dualistic theory, according to which there are two ultimate principles, a good principle, that of light, God or Ormuzd, and an evil principle, that of darkness, Ahriman. These principles ae both eternal and their strife is eternal, a strife reflected in the world which is the production of the two principles in mutual conflict (Copleston, 1993). Ata certain point, his falth in Manichaeism became shaken, at which time he set out for Rome. In the end, hé sought for and obtained a position at Milan as municipal profess of rhetoric in 384; but he did not leave Rome without having lost most ‘of his belief in Manichaeanism. At Milan, Augustine came to think a little better of Christianity owing t® the sermons on the scriptures delivered by St, Ambrose, Bishop of Milan. At this point, 0% he.read certain Platonic treatises in the Latin translation of Victorinus, The function of neo” Until | ions of the Principles of Business Ethics _ Scanned with CamScannerthis period was to render it possible for Augustine to see the teasonab| al platonism at Christianity: and he began to read the New Testament again; particularly the writ Paul.|fneo" wisdom intl toleada life py st. Ambr6: (Copleston, 1993). st. Augustine's ethic has this in common with what one might call th ethic; thatis, eudaemonistic in character, which proposes an end for human a Fappiness but this happiness isto be found only in God. The ethic of Au veandct namely ap thic oflove:itisby the will hat man reaches out toward God and hut say 2 sad enjoys Him. Augustine was an extreme intentionalstin ethics, n econ e or onte (commentary on the Lord Sermon on the Mount 1.12.34), he ‘deine ia voriey and sufflent conditions for committing a sn: receiving an evl suopesre taking pleasure in the thought of performing the act suggested, and consentin im ae the act. Thus in Augustine's view, whether one commits a sin is in no way da ee whether the contemplated action is actually carried out. Even when the action cand ut itis the intention (understood as suggestion, pleasure, and consent), rather han th action itself, or its consequences, that is sinful (Copleston, 1993; Matthew, 1998), ‘ leness of platonism suggested to him the idea of the contemplation of spiritual a of St, INgs, of he intellectual sense, the New Testament showed him that it was a. + ceordance with wisdom. On Holy Saturday of 387 Augustine vor oooo2 se, In the year 395-396 Augustine was consecrated auxiliary Has as booted P of Hippo typical Greek ‘Thomas Aquinas Aquinas (1225-1274), an- Italian philosopher, theologian, and priest, is sometimes called the Prince of Scholastics. He wrote Summa Theologiae and Summa Contra Gentiles, among many other works, and developed a systematic Christian theology in response tothe problem of the dichotomy of faith and reason during the medieval period. He was invited by Pope Gregory X to attend a General Council in Rome in 1274 but died on the way to the Vatican, He died at the young age of 49 years old. 49 years later,he was canonized, and later proclaimed the Angelic Doctor of the Church (Roa, 2011). The moral philosophy of St. Thomas Aquinas involves 2 merge of at least two apparently disparate traditions: Aristotelian eudaimonism and Christian theology. On the one hand, Aquinas follows Aristotle in thinking that an act is good or bad depending om whether it contributes to or deters us from our proper humen énd—the telos or final 902) at which all human actions aim. That telos is eudaimonia, or happiness, where pease is understood in terms of completion, perfection, oF well-being. A carn d however, requires a range of intellectual and moral virtues that erate way. the the nature of happiness and motivate us toseekitina ete re rom that of other hand, St. Thomas's moral theory is seen to move on feration of the Aristotle, Aristotle may have said that the or i such as is attainable in peaking speculative sciences, but he was sf id, is not to be found in this life, According to Aquinas, perfect happiness, tae are e and infinite Good. God is _ ‘ God, who is Himself the sup ‘both rational any created thing, but only in Goo, j though | things, of both ratic an the universal good in the concrete, H { eis the end of al He cre i e: ration Naho can attain ths final good by way i | creatures, -rational creatures and irrational cr : 1es5, it is only uusness Eties and Soil Responsity Scanned with CamScannerof knowledge and love: It Is only rational creatures who can attaln the vision of Gog; which alone perfect happiness lies. Aquinas was In some respects a better Aristoteli,, than Aristode, that not only was he an excellent interpreter of Aristotle's texts, but that hy had been able to extend and deepen both Aristotle's metaphysical inquiries and his Moral enquiries (Copleston, 1993; Macintyre, 1984). Different Philosophies’ Implications for Business Principles and Practice, Ethics is a philosophical term derived from the Greek word ethos meaning character or custom. Ethics are the principles that will tell us the right thing to do, or what things are worth doing. Ethics refers to a set of standards governing behavior; it refers to broadey. based, value-driven rules (Sims, 1992; Jansen and von Glinow, 1985). Ethics is considered 3 normative science because it is concerned with the systematic study of the norms of human conduct, as distinguished from formal sciences such as Mathematics, physical sciences such, as Chemistry and Physics, and empirical sciences such as Economics and Psychology. Ethics is a normative science also because it involves a systematic search for moral principles and norms that are used to justify our moral judgments. The formation of a sound moral judgment presupposes a profound analysis and justification of an ethical principle or theory (Roa, 2011). Ethics can be distinguished from morality in the sense that morality deals with principles of right or wrong conduct in general, while ethics is more concerned with standards of conduct acceptable to a group, a profession, or members of an organization, Alternatively, organizational ethics can be understood as elaborations of pre-existing broader moral principles, which include standards of behavior and are designed to respond to the particular dilemmas presented by that context (Sinclair, 1993). In any case, there is clear evidence that the level of moral reasoning is related to the choice of action that is advocated and is related to people's value positions and stands on controversial public issues. In other words, moral judgment is not a value-neutral and purely cerebral style of intellectualizing, but is connected with values and decision-making (Rest, 1980). Since ethics is universal and the same for all, companies should obey the same ethical rules wherever they operate. For instance, they should respect the rights of workers, should not engage in bribery, should protect the environment and not undermine the local culture, and so forth, There are generally three levels of analysis appropriate to business ethics: (1) that of the system of free enterprise as such; (2) that of the corporation; and (3) that of the individual within the.corporation. In any case, the starting point is usually those basic ethical norms on which all or the overwhelming majority of people agree. For instance, there are basic norms necessary for the conduct of business such as keeping promises, honoring contracts, telling the truth, and respecting the lives and integrity of those with whom one engages in business. Even on issues of extortion and gross bribe”) there is general consensus that these are wrong, even though prevalent and tolerated n some countries (De George, 1994). The history of ethics in business makes evident that the above ethical doctrines hav? influenced the thinking on the morality of business. We can imagine the earliest bartering { Fantastic of Buss Es r Scanned with CamScannerera principle of equal exchange. Aristotle in the Nicomachean Ethi Ics, wrote of justite being the exchange of equals for equals and in the Politics he disc of acquisition’ trade, and usury as part of the ethics of the household. if USES “the art modern era, John Locke (1690) developed a defense of private property we jump to the rroetjon the labor one applis to securing the good in question. Adam Sa hatural ight pastyy of Moral Sentiments before he wrote The Wealth of Nations, wrote mith, who wrote A rn oas well asthe lack thereof that took place among colludin eee the ethies of pave John stuart Mil, and many others wrote on the morality or cthics ot emer David Hume erie economic system. Kal Marx developed the most remit of the developing Fe smed capitalism, a period of history which he considered neces attack on what admitted human productivity had developed more than during any the and in which he ae yoblem with capitalism was that most ofthe benefits were re ieee rep was enough to better the lot of al All ofthese writers facade rene thet vec in business and thelr thoughts have filtered down in various ways to the history populace (De George, 1994). various ways othe genera Jo illustrate more specifically how the various ethical / practices let us take the example of Aristotle. The Atantobnceec a ra ah and think about management in a way that permits integrating “good! ethical Hera management practice. Put differently, as expressed in the familiar maxim, “A way sai iealso a way of not seeing! at the heart of this current study is a pedagogy to rious management students an Aristotelian way of seeing what management is. Providing students with a lens drawn from virtue theory, to use alongside thei lenses f managerial functions and roles, promises to help students integrate moral theory into general management thinking and practice. Concretely from Aristotle assertion that the purpose arife isto maximize happiness and that happiness can only be maximized by practicing virtues in community, it follows that how we manage our communities should be of main concern. Whereas for Aristotle ethics culminated in politics, we are suggesting that today’s ethics culminates in management, as managers play a critical role in society (Dyck and Kleysen, 2001). based on 2 the Business Setting ‘moral philosophers’ views se, of “insider trading” pany, has access tO Comparing Classical, Philosophies in Relation to A concrete example can be.given for, how the various get applied in. day-to-day business situations: Let us tke the casei Businessman A, major stockholder of a Prospero and (ea a information than that of a smaller and less financially SoM nd co passe FE ; an : wasgoingtobeabsorbedby 20 co Company confessed hater is fates conf the major stockholder of COMPANY ETN ae gusinessman A cou oy sharia The son gave the inform: ation to Business! Busine L ! : ice of Comey was made PUI Company B while the price was $ ill relatively [ow : 4 ssman A to go up after its takeover by a bi bane The son offered to give this piece & would share with him the big P02) would surely wind up (Gome standing thal to make. After the takeover, ai Retsil Scanned with CamScannerOne's ethical viewpoint will definitely color” one’s opinion on whether the action, described above can be considered ethical or not. For instance, a Platonist would conside, adeviation,a withdrawal from the Good, and hence, would consider it unethical. Fone takes the utilitarian view, one might possibly consider such actions acceptable, as they provide ne, benefits to both Businessman A and the source of the insider information. A Kantian Would say that both parties’ conduct cannot be set up as a universaf law and are thus immoral, 4, Aristotelian or virtue ethicist would definitely consider both actions as unconscionable, 3 many important virtues—such as loyalty, fairness, temperance, justice—are clearly lacking or absent. ._ This and other examples can be offered, What is important is that, in any situation, the decision maker take on'a comprehensive ethical framework, one that minimizes the ga or incompatibilities among the various ethical viewpoints, one that hopefully leads to the good of the human persons, to his perfect human flourishing or eudaimonia. This skill we hope to achieve by the end of this textbook. Examples of How Belief Systems Affect Business Practices We have previously discussed that the Christian Ethics spawned by the moral Philosophies of, say, St. Augustine and St. Thomas Aquinas have greatly influenced business and its practices in a definitive way. In the first decade of the second millennium, especially in the wake of the great financial and economic crises, Christian Ethics scholars have fruitfully debated whether capitalism and the market economy deserve grateful praise because of its virtues or calls for abolition for’ being diametrically opposed to Christianity. In this context, Christian businessmen have been praiseworthy in taking up the call to make businesses more socially responsible. This section will discuss”faith-based social enterprises’ highlighting two Philippine business models that stand out in fulfilling their social function of aiding the poor and alleviating poverty in its many forms. Weare witnessing today a remarkable growth in the so-called“third sector“ie, in socio- economic initiatives which belong neitherto the traditional privatefor-profit sector nortothe Public sector. These initiatives generally derive their impetus from voluntary organizations, and operate under a wide variety of legal structures. In many ways, they represent the newor renewed expression of civil society against a background of economic crisis, the weakening of social bonds and difficulties of the welfare state (Borzaga and Defourny, 2004). But what if those social enterprises are faith-based? Are there any differences in their effectiveness and sustainability? If so, what accounts for the differences? Most studies on the success of faith-based social service organizations are based on Olasky’s (1992) account of how the needs of the poor and destitute in America were met prior to the New Deal and the rise o the welfare state. Olasky asserts that these previous modes on the role of faith, faith-based institutions, and a “Lady B provide social services, allowed both care providers Of service delivery, which relied Scanned with CamScanner‘ holistic approach to meeting indivi 7 organizations can offera more ing individuals’ n orsan an supportive network (Clerkin and Gronbjerg, 2007) eds by broviing in the specific case of Catholic faith-in-action, one integrative findin «or human life, A Catholic businessman obliges himself os te Catholic perspectiv' r F to st cater business while serving the community and tyingtolivethelifeof Secale succeed of temptations and contradicting realities They have tobe ready goed Catholic ina qu, to stand on principles, and to transform their communities: Cathet sete leaving the halls of learning ready to fight the good fght—to payt hen and wot ibe, to speak against corruption, to create jobs and pay living ogee Paty tualty goods and services, fo nat steal nor cheat, men and women linc hon ts aie are oriented toward the alleviation of poverty and to being good Cithek oeae people. Much has been said about the importance of core competencies. Otte nase as necessary core competencies are communication skills, numeracy, critical th nae problem solving, and the ability to work in teams. Business and insiy have nade s Bs thing about the greater importance of these over technical competencies for fi ent 2 into the workforce. They have also made a big thing about the inadequacy of theses as college graduates. However, ideally, developing a Catholic moral center and learning jaws handle ethical dilemmas should be made core competencies. They must similarly be central to all the disciplines and fill every dimension of a business student's and professional's life (Del Rosario, 2015). In the Philippines, a good number of Filipino Catholics/Christians have given ground to the demand that religion resonate with the needs and desires of ordinary believers, especially the poor and marginalized (Sison and Palma-Angeles, 1997). Two successful Philippine cases of socially-oriented enterprises created by prominent Catholic or Christian businessmen are worth noting: (1) Gawad Kalinga [it “give care"] and (2)“Bangko Kabayan" [lit.“national solidarity bank’), an Economy of Communion based bank. Gawad Kalinga ’ Gawad Kalinga is the brainchild of Catholic entreprenett and social worker Mr Tony Meloto, who received the Magsaysay ‘Award for Community | Leadership in 2006 for his ve : as founder and primary mover of Gawad Kalinga, which has mole : Lerenaeintet volunteers who are working together in bayanihan [lit.“in solidarity ee a ie ats and to restore the dignity of the poorest of the poor. while it pe ne ea tase to solve the urban housing problem, Gawad Kalinga (a snk psi its success in mobilizing donors, vluntees ont a Invennties ‘ll over the country building beautiful and colorful houses in thousands af eee ies a rough, GK BE (Gawad Kalinga, 2014; Habaradas, 2013). More San vera rove than 200,000Famiies initiated self-sustaining programs that have| eae 1990s. This has prompted observers {and counting) throughout the country since ein Gawad Kalinga the to ask about the formula of its continued al . if innovation takes the form of @ shift in paradia) the poor co to be. Instead of looking at ment aoe ee of support ro pie tions OF mere recipients of donat s feers, grams), Business Eis and Sod Rp Scanned with CamScanneras active participants in the development process. GK has succeeded In creating an Imagg that appeals to donors, volunteers, and other stakeholders. For example, GK Is fashioned a a nation-building movement. It seeks to build a nation “empowered by people with fag and patriotism" and one that is made up of*caring and sharing communities, dedicateg to eradicate poverty and restore human dignity” (Habaradas, n.d.). Economy of Communion The most recent development in the economic vision of the Focolare Movemen, (an ecclesial community which has been present in the Catholic Church since the 1949, emerged in 1991 and is known as the Economy of Communion. This project emerged in Brazil and aims to offer a global Christian response to the pressing problems of poverty and injustice through challenging the underlying ethos of business and finance. Itinvolves business people, animated by the Focolare spirituality, setting up a new Kind of enterprise based on Christian ethics, These enterprises, whilst operating within the free market ang abiding by the business regulations and standards therein, put the Focolare vision into practice. They do this principally through dividing the profits they make in three parts ‘one part goes to the poor, one part for reinvestment in the company, and a third part for the formation of people according to this spirit. The businesses also apply certain ethica guidelines within the business. These guidelines are mirrored on the “seven aspects’ of spiritual life that underpin the Focolare's spirituality. Those aspects have come to be likened to the rainbow; they all emanate from love: (1) Love leads to communion; (2) Love is not closed in on itself but by its nature it spreads; (3) Love elevates the soul, which is union with God or prayer; (4) Love heals; (5) Love gathers people together in assembly; (6) Love is the source of wisdom, it enlightens us; and (7) Love gathers many into one, this is unity (Gold 2003). The general ideas of the Economy of Communion (EoC) project were very positively received, including in the Philippines, where Bangko Kabayan is flourishing as an EoC bank In Bangko Kabayan, just as in the other EoC enterprises in the rest of the world, the following mindset is embraced: “I believe that there is a condition, mostly spiritual, that impedes us from feeling secure and self-sufficient without having to depend on anyone and anything. When we no longer feel fragile and in need of help, when a bank account and secure jo? give us (or promise us) self-sufficiency and independence from others, then we are no longet those poor that the Gospel calls ‘blessed! This dimension of poverty depends on ards linked to all the other beatitudes. Only he who is pure, meek, a builder of peace, persecuted for justice, can first understand and then live life with the blessed poverty described inthe Gospels. The entrepreneur, too, is called to live this kind of poverty, if he wants to be a" EoC entrepreneur. This poverty is not only spiritual detachment but much more. There detachment from his role, from power, and 7 r and perhaps fio! | of his colleagues consider them norma tree ee om certain comforts, even when’ when, at the end of the year, a form of love and of responsibilty), : These dependenceand winerablty especialy ge ero iam put him in. iti reate! Seal niet conditions of gf nts and in crises” (Bruni, 2010) Scanned with CamScannerScanned with CamScanner