The influence of thomistic thought in contemporary business ethics

Abstract

The chapter opens with a short passage that bridges from the time period covered by the previous chapters in this section, twelfth to early seventeenth centuries, to the period considered here, the twentieth century. Between the seventeenth and nineteenth centuries, the relation between business/economics and ethics fundamentally weakens, so that the way Thomist thinkers deal with questions in these fields in the twentieth century is often more fragmented than in the past. Similarly, economists and business experts themselves rarely make reference to philosophical ethics and almost never to Thomism. On the other hand, Thomism receives a major boost at the end of the nineteenth century, thanks to Pope Leo XIII, who also launches what becomes a new body of thought known as Catholic social teaching (CST), and thus, CST is much influenced by Thomism, although on some key points of importance to business ethics, there has been some divergence between Thomism and CST. Three areas of some divergence are discussed here. Key concepts within the Thomist/CST body of thought that are of importance for business ethics include: The concept of what is good, the nature and dignity of the human person, the common good, and human virtue. A more extensive account is given of two book-length treatments of economics and business, since although these kinds of texts are few in this period, they continue the Thomistic tradition of a systematic reflection on commerce and business, and other areas of business ethics where Thomistic thought has been influential are discussed. An assessment of the influence on business ethics of Thomism and CST is made. While they are currently ignored to a great extent by the mainstream of business ethics, there is potential for a "breakthrough" in the future. This is due to the kind of problems that business ethics is currently experiencing and to what Thomism and CST can offer to remedy these problems.