rn: In moral accounting, First Wld is debtor


Jan Slakov

Date: Tue, 25 Apr 2000 17:27:25 -0700
From: CyberBrook <•••@••.•••>
Subject: moral accounting

In moral accounting, First World's the debtor
Houston Chronicle, April 16, 2000, p. 5-C. 
By Robert Jensen

As the protests in the streets of Washington, DC, unfold on Sunday at the
International Monetary Fund and the World Bank meeting, the focus will be
on complex fiscal and monetary policy questions. But the underlying struggle
is over more basic questions:

What is an economy for, and what does it mean to be a human being in the
modern world?

Is an economy simply a system and set of institutions to maximize
production no matter what the cost to people and the planet? Or should the
goal of an economy be to create conditions under which free human beings can tap
their creative potential and work collectively to fashion a sustainable

Is money the only measure of value, or does real wealth come from the
living capital of the planet?

Do we judge an economy solely on market values? Or do solidarity,
compassion and love have a place -- not just in our families and intimate
lives, but in public as well, in the way we collectively define ourselves?
These issues arose when a political colleague and I recently debated two
business school professors on the question of corporate responsibility.

During the discussion, I talked about the sadness that I so often feel
living in a society in which such human values are not only marginalized
but mocked because they are inconsistent with the demands of the economy. The
most vulnerable -- the poor, children, the aged, the sick -- suffer most
from this state of affairs. But we all suffer because the conception of
human nature inherent in our economy is so debased.
Make no mistake: The view of human nature that underlies corporate <br>
capitalism is inhumane and anti-human. We are told that people will
respond only to crass self-interest and greed, and hence our economic
institutions are built on that notion. Then, when people often do act on
self-interest and greed in a system that rewards such behavior, we are told,
"See, look at how greedy people are."

It is our task not to accept such facile logic, to reject former British
Prime Minister Margaret Thatcher's famous dictate "There is no
There are, of course, alternatives. There is nothing natural or
inevitable about capitalism and its underlying assertions about human
nature. We all have experienced situations in which we put aside crass
about self-interest and acted out of a sense of solidarity, an understanding 
that to be fully human means meaningful connection with others. We also
all have been, at some time, selfish and greedy. Both are part of human
nature. The question is, do we build institutions that encourage our
capacity for kindness or for cruelty?

An economy is the product of human choices. By definition, we can choose
differently. For example, we can choose to eliminate IMF and World Bank
lending policies that undercut education, health and social services in
the developing world in order to maximize profits in the developed world. We
can simply abandon these "structural adjustment" policies, which adjust the
lives of ordinary people downward.

We can realize that a minimal sense of justice means the First World must
forgive the debt it has imposed on the Third World and begin to talk
about a real moral accounting for colonialism through the First World paying

And, when our collective moral imagination has developed enough, we can
begin to design a world in which corporations are not allowed to trample
over people in pursuit of profits.

That world may not be as far away as we think. After our business school
debate, an MBA student came up to me and thanked us for being willing to
speak before a group that was so hostile to our message.  "I don't agree
with everything you said, and I am going to go into business," he told me.
Then his voice wavered a bit, and he said, "But what you said touched me."

That moment -- a connection between two people, standing in a building
constructed to teach people to honor greed -- touched me as well. It was
a reminder of those other values, of the possibility of alternatives. The
only question is whether together we have the courage to create them.

Jensen is a professor in the Department of Journalism at the University
of Texas at Austin. He can be reached at •••@••.•••. Other
writings are available online at 

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NOTE from Jan: This message came to me with all kinds of <br> I edited out.
Since I'm not sure what is junk and what is useful in the web address at the
end of the article, I edited nothing out.