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Conscious Capitalism and Orthodoxy

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The Spirit of Conscious Capitalism

Part of the book series: Ethical Economy ((SEEP,volume 63))

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Abstract

Some Orthodox theologians consider the capitalist economic system to have failed because: (a) it encourages greed, (b) it results in income inequality which of itself is not unethical but becomes morally comprehensible when it is achieved at the expense of others, and (c) society ends up being ruled by capital. After considering a number of principles and concepts of Christianity, attention turns to Orthodoxy which is based on the principles of being humble, caring, giving, having empathy and compassion, being resilient and having a higher purpose in life. Such principles are also found in conscious capitalism which is based on the following four tenets: higher purpose and core values; stakeholder integration; conscious leadership; and conscious culture and management. As advocated in this chapter in order though to reach this higher purpose and for conscious capitalism to be successfully practiced, we need to appreciate the brain science behind it, the biological importance of trust, social inclusion, stakeholder sharing and optimism. Finally, the chapter discusses the relationship between conscious capitalism and orthodoxy utilizing material from both the Old and the New Testament and concludes that many of the Principles Orthodoxy is built on are found in Conscious Capitalism.

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Notes

  1. 1.

    Dialectical Marxism: The Writings of Bertell Ollman. “Socialism Is Practical Christianity.” [Accessed Jan. 18, 2020].

  2. 2.

    Filoptohia, https://orthodoxfathers.com/logos/philoptochia [Accessed 28 October 2020].

  3. 3.

    Interestingly enough the virtues outlined in Filoptohia by St Gregorios the Theologist do not deviate much from Aristotle’s Nicomachean Ethics. See Tredennick (2004) for a discussion on Nicomachean Ethics.

  4. 4.

    From the Greek verb ‘logevo’ which means to collect money or material goods for charity.

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Acknowledgments

I would like to thank Professor S. Fotiou for his constructive comments on an earlier draft of the chapter, Konstandinos Petrides for assisting with the research into ‘Orthodoxy’ and His Eminence, the Most Reverend Bishop Isaias (Kykkotis) of Tamassos and Orinis for providing some very useful reading material.

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Correspondence to Maria Krambia-Kapardis .

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Krambia-Kapardis, M. (2022). Conscious Capitalism and Orthodoxy. In: Dion, M., Pava, M. (eds) The Spirit of Conscious Capitalism. Ethical Economy, vol 63. Springer, Cham. https://doi.org/10.1007/978-3-031-10204-2_13

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