Doing Virtuous Business by Theodore Roosevelt Malloch is a refreshing book. Dr. Malloch says, “the creation of wealth by virtuous means is the most important thing we can do for ourselves and others, for our society, and for the world at large.”
At a time when capitalism is being criticized and undermined by mistaken economists, misguided politicians and falsely called “liberal” professors (they certainly aren’t for freedom); we need a voice to clarify what’s at stake. This book does just that.
What is capitalism? Dr. Malloch says, “Capitalism–just another name for the free economy–is a system in which capital is held in private hands, and in which people are free to spend it, waste it, invest it, accumulate it, and share it as they choose. In the nearly century-long contest between capitalism and communism, capitalism triumphed… because it alone expresses and preserves the gift of human freedom.”
Those who long for socialism cry out for poverty and servitude unawares! Dr. Malloch makes the case that only “virtuous” capitalism can produce the wealth needed to raise the human race out of poverty. And, contrary to what you may have heard, capitalism is first and foremost based on virtue. “A free market depends upon honesty and accountability; it also tends to produce these virtues.” Why? Because, in time, a free market will expose frauds.
Contrary to the “TV caricatures” of businessmen as being “pragmatic and self-seeking atheist(s)”, he says, “sociologists discovered that, next to military officers and church professionals, more business people attended church every week than any other elite: twice as many as congressional aides, four times as many as news-media professionals, and nine times as many as elites of the TV and movie industries.”
Dr. Malloch gives us a detailed description of the virtues of business: faith, honesty, gratitude, perseverance, compassion, forgiveness, patience, humility, courage, respect, generosity, discipline, chastity and thrift. This section alone makes reading the book worthwhile. And, he follows up with many examples of these virtues being practiced by businessmen and corporations today.
Oh, one more topic. If you need a refresher course on the true meaning of social justice, this book’s for you. There’s so much good information here, you can’t go wrong in reading Doing Virtuous Business!
Disclosure of Material Connection: I received this book free from Thomas Nelson Publishers as part of their Book Review Blogger program. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”