private sector

From the Archives: November 1993

DESPITE APPEARANCES, economics is in essence a very personal and fundamentally moral discipline. It is nothing short of the web of our material relationships with one another and with the natural environment. Economic relationships have personalities and personal histories. Inescapably, these relationships physically manifest our social and spiritual values.

Our language expresses this duality. “Values” are both moral principles and economic measures. “Equity” is defined both as a financial interest in property and as fairness or justice. The root of “property” is also the root of “propriety.” But perception and practice often reflect a division between them.

Many of the economic problems confronting us can be understood as the result of neglected or broken relationships. Americans ... have a tendency to polarize public and private interests and, in our case, to mythologize the private sector and ignore the community as a genuine economic actor.

If it will, the church can play a critical role in healing these divisions. It has a unique contribution to make: philosophically, by drawing on its theology of creation, its understanding of the individual in community, and its preferential option for the poor; practically, because it is the largest and most widespread non-governmental institution and one of the few stable institutions in low-income communities. 

Chuck Matthei was president of Equity Trust when this article appeared.

Image: Sprouts planted in gold coins,  / Shutterstock 

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Bono to the G8: Transparency, 'We Won't Have Food Security Without It'

Bono addresses the G8 symposiumon food security Friday in Washington, D.C. Photo by Alex Wong/Getty Images.

In a room filled with African heads of state, captains of industry, leaders of international development and countless executives from NGOs at the G8 Symposium on Global Agriculture and Food Security in Washington, D.C. late last week, stood one Irish rock star — Bono, the lead singer of U2 and co-founder of the ONE Campaign.

At first blush (to the uninitiated, perhaps), Bono's presence might seem incongruous, but most of the folks in the room at the Ronald Reagan building a few blocks down Pennsylvania Avenue know the Irishman more for his tireless humanitarian efforts than his closet full of Grammy awards. For more than 25 years, Bono, 52, has been involved deeply and effectively in international affairs as a champion for the poorest of the poor.

"Can we manage the oil as well as the farmland? Manage it properly, responsibly, transparently?" Bono asked the audience. "Because when we don’t, you know what happens. Hundreds of billions of dollars got lost to oil and gas corruption in Nigeria. That’s what the watchdog groups are telling us. Just mind blowing. Huge numbers.

"Crops need sunlight. So does resource extraction. Both need sunlight’s disinfecting glare. Isn’t transparency the vaccine to prevent the worst disease of them all? Corruption. Everybody here knows that corruption kills more children than HIV/AIDS and malaria combined. So that’s what I want to leave you with. That very simple word. That very simple concept. Easy to say. Much harder to realize, especially in law. The word 'transparency.'

"We won’t have food security without it," he said. "But we will have oil riches without it but those riches will be held and hidden by very few hands."

The Morning News: Wednesday, Nov. 30, 2011

Private Sector Adds 206,000 Jobs In November; Police Clear Occupy Camps In Los Angeles, Philly; Churches Help Occupy Movement Survive Crackdowns, Winter; Study: Even With More Kids In Poverty, Number Of Uninsured Children Fell 14 Percent Over 3 Years; Poverty Soars For Students In D.C., Montgomery County; Anonymous Iowa Christian Group Launches Attack On Gingrich; Should Fair Trade Certify Giants Like Nestle and Folger's?; Long Lines For Free Holiday Food Vouchers.

U.S. Supreme Court to Hear Arguments in Pivotal Church-State Case This Week


The U.S. Supreme Court is set to begin hearing oral arguments this week in one of the most important church-state cases in decades. In Hosanna-Tabor Church v. Equal Employment Opportunity Commission, the court will consider whether a Lutheran school in Michigan is subject to a federal law banning discrimination based on a disability.

A Flat Tax and 'the New Austerity,' or

At Europe Through the Back Door, our tour program just sold its 11,782nd seat for our 2011 season -- topping our best tour sales year ever (2007). Despite our antsy stock market and doom-and-gloom news stories, it seems that our economy is gaining some confidence. And yet, at the same time, our local symphony and arts center are in financial crisis.

As a way to celebrate, to give back to my beautiful hometown of Edmonds, and to spark a little conversation about why a society as affluent as the USA is cutting education, neglecting our environment, and defunding the arts while our wealthy class is doing better than ever, I've decided to make a donation of $1 million (in $100,000-a-year payments over the next decade) to our local symphony and arts center. This sum represents the money I've gained in the 10 years since the Bush tax cuts for the richest Americans (those of us earning over $250,000 a year) took effect.