For Keynes, the history of money begins when the function of measure of value arises for the first time. By contrast, Menger believes that the origin of money is determined by the appearance of the function of medium of exchange. Despite this substantial difference in interpretation, Menger and Keynes agree in terms of criticizing the function of store of value, even though this third function is useful under certain conditions. This paper argues that this agreement, at the level (...) of monetary theory, is linked to a common ethical evaluation: Both stigmatise the love of money exactly because this desire involves a false absolutisation of money as a store of wealth. The paper will be structured in two main parts: I. Monetary Theory. The first part briefly sketches the two competing models of the explanation of the origin of money and its value. II. Ethics. In the second part, the focus will be the common rejection of the love of money. (shrink)

The impact of “love of money” on different aspects of consumers’ ethical beliefs has been investigated by previous research. In this study we investigate the potential impact of “love of money” on a manager’s ethical decision-making in marketing. Another objective of the current study is to investigate the potential impacts of extrinsic and intrinsic religiosity on ethical marketing decision-making. We also include ethical judgments as an element of ethical decision-making. We found “love of money”, (...) both dimensions of religiosity, and ethical judgment to have significant impacts on ethical intentions in a marketing situation. In addition to providing an important contribution to the business ethics literature, the findings also have important managerial implications. (shrink)

Recent research suggests there may be a link between religiousness and business ethics. This study seeks to add to the understanding of the relationship through a questionnaire survey on Malaysian Christians in business. The questionnaire taps into three different constructs. The religiousness construct is reflected in the level of participation in various common religious activities. The love of money construct is captured through the Love of Money Scale as used in Luna-Arocas and Tang [Journal of Business (...) Ethics 50 (2004) 329]. Response to 25 business vignettes taken from Conroy and Emerson [Journal of Business Ethics 50 (2004) 383] would surface ethical attitudes. A convenience sample of 300 was drawn from three large churches in the Kuala Lumpur area each with a congregation exceeding 1000 together with some representation from the smaller churches. The study finds some differences in the ethical attitudes of Malaysian Christians in business with different levels of religiousness. The study also finds that those longer in the faith are less accepting of unethical behavior. As such it can be concluded that there are ethical attitude differences between Christians in business with different levels of religiousness. This lends support to the claim of a positive relationship between religion and business ethics. The more significant finding is that even within a somewhat homogenous religious group there are different love of money profiles resulting in significant differences in ethical attitudes. This suggests that moderating money attitudes can contribute towards stronger ethical attitudes. (shrink)

This study tests the hypothesis that university professors (lecturers) (in the U.S. and Spain) with different money profiles (based on Factors Success, Budget, Motivator, Equity, and Evil of the Love of Money Scale) will differ in work-related attitudes and satisfaction. Results suggested that Achieving Money Worshipers (with high scores on Factors Success, Motivator, Equity, and Budget) had high income, Work Ethic, and high satisfaction with pay level, pay administration, and internal equity comparison but low satisfaction with (...) external equity comparison. Careless Money Admirers (high Success but low Budget) had low intrinsic job satisfaction and low satisfaction with pay level and life. Apathetic Money Managers (low Evil and low Motivator) had the highest intrinsic job satisfaction and life satisfaction. Money Repellent Individuals (high Evil and low Success) had low income, work experience, Work Ethic, and low satisfaction with pay administration. Money does not provide the same motivation for people in all four money profiles. Results are discussed in light of the effectiveness of using money to reward people with different money profiles, intrinsic motivation, and unethical behavior. (shrink)

We investigate the extent to which perceptions of the authenticity of supervisor’s personal integrity and character (ASPIRE) moderate the relationship between people’s love of money (LOM) and propensity to engage in unethical behavior (PUB) among 266 part-time employees who were also business students in a five-wave panel study. We found that a high level of ASPIRE perceptions was related to high love-of-money orientation, high self-esteem, but low unethical behavior intention (PUB). Unethical behavior intention (PUB) was significantly (...) correlated with their high Machiavellianism, low self-esteem, and low intrinsic religiosity. Our counterintuitive results revealed that the main effect of LOM on PUB was not significant, but the main effect of ASPIRE on PUB was significant. Further, the significant interaction effect between LOM and ASPIRE on unethical behavior intention provided profoundly interesting findings: High LOM was related to high unethical behavior intention for people with low ASPIRE, but was related to low unethical intention for those with high ASPIRE. People with high LOM and low ASPIRE had the highest unethical behavior intention; whereas those with high LOM and high ASPIRE had the lowest. We discuss results in light of individual differences, ethical environment, and perceived demand characteristics. (shrink)

This research investigates the efficacy of business ethics intervention, tests a theoretical model that the love of money is directly or indirectly related to propensity to engage in unethical behavior (PUB), and treats college major (business vs. psychology) and gender (male vs. female) as moderators in multi-group analyses. Results suggested that business students who received business ethics intervention significantly changed their conceptions of unethical behavior and reduced their propensity to engage in theft; while psychology students without intervention had (...) no such changes. Therefore, ethics training had some impacts on business students' learning and education (intelligence). For our theoretical model, results of the whole sample (N = 298) revealed that Machiavellianism (measured at Time 1) was a mediator of the relationship between the love of money (measured at Time 1) and unethical behavior (measured at Time 2) (the Love of Money → Machiavellianism → Unethical Behavior). Further, this mediating effect existed for business students (n = 198) but not for psychology students (n = 100), for male students (n = 165) but not for female students (n = 133), and for male business students (n = 128) but not for female business students (n = 70). Moreover, when examined alone, the direct effect (the Love of Money → Unethical Behavior) existed for business students but not for psychology students. We concluded that a short business ethics intervention may have no impact on the issue of virtue (wisdom). (shrink)

In Study 1, we test a theoretical model involving temptation, monetary intelligence (MI), a mediator, and unethical intentions and investigate the direct and indirect paths simultaneously based on multiple-wave panel data collected in open classrooms from 492 American and 256 Chinese students. For the whole sample, temptation is related to low unethical intentions indirectly. Multi-group analyses reveal that temptation predicts unethical intentions both indirectly and directly for male American students only; but not for female American students. For Chinese students, both (...) paths are non-significant. Love of money contributes significantly to MI for all students. In Study 2, using money as a temptation and giving them opportunities to cheat on a matrix task, most Chinese students (78.4 %) do not cheat in open classrooms; supporting survey and structural equation modeling (SEM) results in Study 1. However, students in private cubicles cheat significantly more (53.4 %) than those in open classrooms (21.6 %). Finally, students’ love of money attitude predicts cheating. Factor rich predicts the cheating amount, whereas factor motivator predicts the cheating percentage. Our results shed new light on the impact of temptation and love of money as dispositional traits, money as a temptation, and environmental context (public vs. private) on unethical intentions and cheating behaviors. (shrink)

Religion inspires honesty. The love of money incites dishonesty. Religious and monetary values apply to all religions. We develop a formative theoretical model of monetary wisdom, treat religiosity (God) and the love of money (mammon), as two yoked antecedents—competing moral issues (Time 1), and frame the latent construct in good barrels (performance or humane contexts, Time 2), which leads to (dis)honesty (Time 3). We explore the direct and indirect paths and the model across genders. Our three-wave (...) panel data (411 participants) show that religious and monetary values are negatively correlated. Directly, religiosity consistently curbs dishonesty; surprisingly, the love of money has no impact on dishonesty. In the performance context, the two mediation effects reduce dishonesty. Across genders, this mediation effect is nonsignificant for males but significantly excites females' honesty. In the humane context, the two mediation effects are nonsignificant. Across genders, for the love of money, males passively curb dishonesty by omission, and females actively engage in honesty by commission. Decision-makers must challenge people's moral issues, frame them in good barrels, and help people become good apples, choice architects, and moral and ethical decision-makers, promoting the Matthew effect in religion. We offer practical implications to individuals and organizations. (shrink)

This paper examines a model of income and quality of life that controls the love of money, job satisfaction, gender, and marital status and treats employment status (full-time versus part-time), income level, and gender as moderators. For the whole sample, income was not significantly related to quality of life when this path was examined alone. When all variables were controlled, income was negatively related to quality of life. When (1) the love of money was negatively correlated (...) to job satisfaction and (2) job satisfaction was positively related to both income and quality of life, income was negatively related to quality of life for full-time, high-income, and male employees. When these two conditions failed to exist, income was not related to quality of life for part-time, median- or low-income, and female employees. This model provides new insights regarding the impact of the love of money and job satisfaction on the income–quality of life relationship. (shrink)

This study examines a model involving income, the love of money, pay satisfaction, organizational commitment, job changes, and unethical behavior among 211 full-time employees in Hong Kong, China. Direct paths suggested that the love of money was related to unethical behavior, but income (money) was not. Indirect paths showed that income was negatively related to the love of money that, in turn, was negatively related to pay satisfaction that, in turn, was negatively associated (...) with unethical behavior. Pay satisfaction was positively related to organizational commitment. Thus, the love of money is the root of evil, but money is not. (shrink)

This research tests a model of employee helping behavior (a component of Organizational Citizenship Behavior, OCB) that involves a direct path (Intrinsic Motives → Helping Behavior, the Good Samaritan Effect) and an indirect path (the Love of Money → Extrinsic Motives → Helping Behavior). Results for the full sample supported the Good Samaritan Effect. Further, the love of money was positively related to extrinsic motives that were negatively related with helping behavior. We tested the model across (...) four cultures (the USA., Taiwan, Poland, and Egypt). The Good Samaritan Effect was significant for all four countries. For the indirect path, the first part was significant for all countries, except Egypt, whereas the second part was significant for Poland only. For Poland, the indirect path was significant and positive. The love of money may cause one to help in one culture (Poland) but not to help in others. Results were discussed in the light of ethical decision making. (shrink)

Monetary intelligence theory asserts that individuals apply their money attitude to frame critical concerns in the context and strategically select certain options to achieve financial goals and ultimate happiness. This study explores the dark side of monetary Intelligence and behavioral economics—dishonesty. Dishonesty, a risky prospect, involves cost–benefit analysis of self-interest. We frame good or bad barrels in the environmental context as a proxy of high or low probability of getting caught for dishonesty, respectively. We theorize: The magnitude and intensity (...) of the relationship between love of money and dishonest prospect may reveal how individuals frame dishonesty in the context of two levels of subjective norm—perceived corporate ethical values at the micro-level and Corruption Perceptions Index at the macro-level, collected from multiple sources. Based on 6382 managers in 31 geopolitical entities across six continents, our cross-level three-way interaction effect illustrates: As expected, managers in good barrels, mixed barrels, and bad barrels display low, medium, and high magnitude of dishonesty, respectively. With high CEV, the intensity is the same across cultures. With low CEV, the intensity of dishonesty is the highest in high CPI entities —the Enron Effect, but the lowest in low CPI entities. CPI has a strong impact on the magnitude of dishonesty, whereas CEV has a strong impact on the intensity of dishonesty. We demonstrate dishonesty in light of monetary values and two frames of social norm, revealing critical implications to the field of behavioral economics and business ethics. (shrink)

In this study, we develop a theoretical model of monetary intelligence (MI), explore the extent to which individuals’ meaning of money is related to the pursuit of materialistic purposes, and test our model using the whole sample and across college major and gender. We select the 15-item love of money (LOM) construct—Factors Good, Evil (Affective), Budget (Behavioral), Achievement, and Power (Cognitive)—from the Money Ethic Scale and Factors Success and Centrality and two indicators—from the Materialism Scale. Based (...) on our data collected from 330 university students in Czech Republic, we provide the following findings. First, our formative models are superior to our reflective models. Second, for the reflective model, money represents Power, Good, Achievement, and not Evil, in the context of materialism. Our formative model suggests that those who pursuit materialism cherish Achievement (vanity) but Budget their money poorly. Third, multi-group analyses illustrate that humanities students (62.4 % female) consider money as Evil and Budget their money poorly, while those in natural sciences (37.6 % female) do not. Further, men are obsessed with Achievement, whereas women do not Budget their money properly, suggesting reflective temptation for males and impulsive temptation for females. Our novel discoveries shed new lights on the relationships between LOM and materialism and offer practical implications to the field of consumer behavior and business ethics. (shrink)

We develop a theoretical model of income and pay comparison satisfaction with two mediators, examine the direct and the indirect paths of our model, and treat culture as a moderator. Based on 311 professors in the US and Spain, we demonstrate a positive direct path and a negative indirect path. Our subsequent multi-group analysis illustrates: For American professors, their direct path shows that income is directly related to high pay comparison satisfaction. Their indirect path reveals the following new insights: Professors (...) with high income have a strong love of money orientation, set their pay equity comparison standards significantly higher than their own salary, and as a consequence, have low pay comparison satisfaction. For Spanish professors, love of money is not related to their pay comparison standards which are slightly higher than their own self-reported income. Neither the direct nor the indirect path is significant. The standardized total effect of income to pay satisfaction is positive for American professors, but negligible for Spanish professors. Are you satisfied with your pay when you compare? Our results demonstrate that pay comparison satisfaction depends on not only one’s income but also one’s love of money and pay equity comparison standards which may vary across cultures. (shrink)

This study investigates measurement invariance of the 17-item-4-factor Love of Money Scale across gender and college major among university students in People's Republic of China. Results revealed configural invariance across gender. Metric invariance across gender was not achieved based on chi-square change, but achieved based on fit indices change between unconstrained and constrained multi-group confirmatory factor analysis. Both configural invariance and metric invariance were achieved across college major. Results of this study suggest that the Love of (...) class='Hi'>Money Scale, developed in the U.S., has achieved measurement invariance in this student sample in China. Future researchers will have some confidence in using this measurement when they examine the love of money in Chinese management and organizational studies. (shrink)

Based on theory of planned behavior, we develop a theoretical model involving love of money (LOM), job satisfaction (attitude), coping strategies/responses (perceived behavioral control), work environment (subjective norm), and work-related behavioral intentions (behavioral intention). We tested this model using job satisfaction as a mediator and sector (public versus private), personal character (good apples versus bad apples), gender, and income as moderators in a sample of 515 employees and their managers in the Republic of Macedonia. For the whole sample, (...) both coping strategies and helpful work environment were related to high job satisfaction. The relationship between work environment and job satisfaction was the strongest link in all subsequent analyses. High LOM is associated with unfavorable work environment for employees in the private sectors and people with low income and is positively associated with coping strategies for bad apples. A favorable work environment was related to less corrupt intent for people in the public sectors, good apples, and with low income, but not for their counterparts. Coping strategies were related to high job satisfaction for males, but not for females. Our counterintuitive results showed that bad apples’ high LOM was related to low corrupt intent. Our theoretical model sheds new light and provides novel theoretical, empirical, and practical implications to Macedonian managers’ corrupt intent. (shrink)

In 2004 and 2005, Woo-Suk Hwang achieved international stardom with publications in Science reporting on successful research involving the creation of stem cells from cloned human embryos. The wonder and success all began to unravel, however, when serious ethical concerns were raised about the source of the eggs for this research. When the egg scandal had completely unfolded, it turned out that many of the women who provided eggs for stem cell research had not provided valid consents and that nearly (...) 75% of the women egg providers had received cash or in-kind payments. Among those who did not receive direct benefits, some cited patriotism as their reason for participating in embryonic stem cell research, hence the question “for love or money?”—namely, patriotism versus payment. This paper summarizes the Hwang debacle with particular attention to the egg scandal and ends with some preliminary thoughts on patriotism as a motive for research participation. (shrink)

In this essay Rorty argues that care or concern alone is inadequate for dealing with problems of Third World poverty; neither is there likely to be a convenient technological fix. There is no evading the hard decisions that global poverty will require of the rich nations, and there is no way past E. M. Forster’s dictum, in Howard’s End, that “We are not concerned with the very poor. They are unthinkable and only to be approached by the statistician or the (...) poet.” Most of Rorty’s essay focuses on works of Forster demonstrating that, in Rorty’s words, “tenderness only appears... when there is enough money to produce a little leisure, a little time in which to love.... The cash value of the Christian ideal of universal brotherhood has, for the last two centuries, been the conviction that once science and technology have produced enough wealth—and enlightened, unselfish political initiatives have redistributed it—there will be no one left who is incapable of tenderness. All human beings will live in the light; all of them will be possible characters in novels.”. (shrink)

In his follow-up to Tavern League: Portraits of Wisconsin Bars, Carl Corey turns his camera on Wisconsin family-owned businesses in existence fifty years or longer. The businesses portrayed here—bakeries and barbecue joints, funeral homes and furniture builders, cheesemakers, fishermen, ferry boat drivers—have survived against all the odds, weathering tough economic times and big-business competition. The owners are loyal to their employees, their families, and themselves. And they are integral to their local economies and social fabric. The services and goods they (...) provide are usually for neighbors and friends. Generations serve generations, creating lasting relationships and strong, vibrant neighborhoods and rural communities. In For Love and Money, Carl Corey provides indelible glimpses of an increasingly endangered way of life. The Museum of Wisconsin Art’s Graham Reid has said, “As current and future generations come and go, these pictures will survive in the hands of the subjects, collectors, museums, and galleries. Will the businesses featured enjoy a similar longevity? Only time will tell, and we can only watch and hope, but Carl Corey has ensured that they will not be forgotten.”. (shrink)

Mood affects social cognition and “theory of mind”, such that people in a persistent negative mood (i.e., dysphoria) have enhanced abilities at making subtle judgements about others’ mental states. Theorists have argued that this hypersensitivity to subtle social cues may have adaptive significance in terms of solving interpersonal problems and/or minimising social risk. We tested whether increasing the social salience of a theory of mind task would preferentially increase dyspshoric individuals’ performance on the task. Forty-four dysphoric and 51 non-dysphoric undergraduate (...) women participated in a theory of mind decoding task following one of three motivational manipulations: (i) social motivation (ii) monetary motivation, or (iii) no motivation. Social motivation was associated with the greatest accuracy of mental state decoding for the dysphoric group, whereas the non-dysphoric group showed the highest accuracy in the monetary motivation condition. These results suggest that dysphoric individuals may be especially, and preferentially, motivated to understand the mental states of others. (shrink)

Prior research has showed that the subjective perception of objective wealth might be affected by various individual difference variables, such as one’s love of money, level of desires, or materialistic inclinations. This paper examines an impact of attitudes towards money on the relation between personal net income and household income, and its subjective evaluation, measured as financial satisfaction and subjective economic well-being. The results of two studies revealed that the affective dimension of money attitudes partially mediated (...) the relationship between income and financial satisfaction. Moreover, the instrumental dimension of attitude towards money moderated this relationship: The relationship between the two was stronger for individuals highly concentrated on money management than for those with low scores on this factor. (shrink)

Based on the proven maxim that "money makes the world go round", this study, drawing from Shakespeare's texts, presents a lexicon of common words as well as a variety of familiar familial and cultural sitations in an economic context. Making constant recourse to well-known material from Shakespeare's plays, Turner demonstrates that terms of money and value permeate our minds and lives even in our most mundane moments. His book offers a new, humane, evolutionary economics that fully expresses the (...) moral, spiritual, and aesthetic relationships among persons, and between humans and nature. Playful and incisive, Turner's book offers a way to engage the wisdom of Shakespeare in everyday life in a trenchant prose that is accessible to scholars and to the general reader. (shrink)

Gerald Nissenbaum, JD and John Sedgwick. 2010. Sex, love and money: Revenge and ruin in the world of high-stakes divorce Content Type Journal Article DOI 10.1007/s11673-010-9243-5 Authors Katrina A. Bramstedt, Clinical Ethicist, Program in Medicine & Human Values, California Pacific Medical Center, 2395 Sacramento St, 3rd floor, San Francisco, CA 94115, USA Journal Journal of Bioethical Inquiry Online ISSN 1872-4353 Print ISSN 1176-7529 Journal Volume Volume 7 Journal Issue Volume 7, Number 3.

Sales in supermarkets have contributed greatly to growth in Fairtrade, but the literature suggests there may be tensions between Fairtrade principles and the commercial practices which characterise UK supermarket value chains. This article explores these tensions through an analysis of supermarket value chains for Fairtrade coffee, cocoa, bananas and fresh fruit. It finds considerable variation in UK supermarket approaches in terms of scale and scope of commitment to Fairtrade and in the nature of relationships with Fairtrade suppliers. In some cases (...) supermarket involvement has the potential both to expand and deepen the impact of Fairtrade, whereas in others it threatens to undermine the ability of Fairtrade to support long-term processes of development. The findings indicate that a more nuanced approach to supermarket Fairtrade is required, with recommendations for actions that could be taken to maximise the opportunities and minimise the risks. (shrink)

In this study, we developed a model of unethical behavior intentions, collected data from managers of the private (n = 208) and the public (n = 307) sectors in the Republic of Macedonia, and tested our model across these two sectors. Results suggested that for both sectors, unethical behavior intentions were not related to the love of money and corporate ethical values, whereas irritation was negatively related to life satisfaction. Moreover, corporate ethical values were related to life satisfaction (...) for the private sector only, whereas the love of money and unethical behavior intentions were related to irritation for the public sector only. Managers in the private sector had higher corporate ethical values, lower unethical behavior intentions, lower irritation, and higher life satisfaction than those in the public sector. There was no difference in the love of money. There were more bad apples in the public sector (34.85%) than in the private sector (23.56%). The strongest factor of unethical behavior intentions in the private and the public sectors was theft and corruption, respectively. Finally, for the culture-free (etic) model, the love of money was positively related to irritation. Corporate ethical values had a positive "double-whammy" effect: reducing irritation and enhancing life satisfaction. Unethical behavior intentions were positively related to irritation (a mediator), which was negatively related to life satisfaction. Our theory provides new insights regarding doing business in the Republic of Macedonia. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Book Review Wayne C. Booth. For the Love ofIt: Amateuring and Its Rivals (Chicago: University of Chicago Press, 1999). For the Love ofIt is a delightful exposition on life-long music making written with love by amateur cellist Wayne Booth (professor emeritus ofEnglish, University ofChicago). Employing a combination of journal entries, memories, and romantic prose on the topic oftaking up the cello at age thirty-one, he writes (...) insightfully on the challenges and triumphs inherent in amateur pursuits (musical, or otherwise). Written from a classical music perspective, he analyzes the reasons for amateuring, all the while extolling his community offellow amateurs, pro-amateurs, and teachers who make the journey worthwhile. He imparts many valuable insights from which music educators can benefit. I will summarize Booth's main points, highlighting these insights, and conclude with a brief criticism of the book from theperspective ofone who has worked with adult amateurs for more than fifteen jears. Boothplayfullypresentshis text in the form ofa symphony. In the "Overture," he encourages people to pursue actively an amateur love and desires growth in the ranks of amateurs. Just as Christopher Small encouraged a mental shift from to musictothemoreactive gerund formmusicking in his book of that title,1 Booth promotes a shift from the noun amateurto the gerund amateuring. He defines amateuringas doing something for the sheer love of it, adding the caveat: "Amateurs don't just dabble, like serious professionals, they work at learningto do it better^11). This idea of constant improvement is reiteratedthroughout the book with detailedrecounting ofBooth's forty-six years of cello studies, especially his pursuit of excellent thumb position. Why one should study to this degree when full success (that is, professional performance) is out of reach? Booth suggests the following rewards: joyful friendship, spiritual ecstasy, and gratitude for life's mysterious unearned gifts (5, 6). Indeed, throughout the book Booth finds himself "getting better all the time," often "playing better than ever"(58, 112, 123, 137, 140). His feelings ofimprovement and the accompanying self-satisfaction are ajoy to see and reinforce the idea that theserewards make true amateuring worth it. In"First Movement: The Courtship,"music educators find a staunch supporter in Booth and gain insight into the importance of childhood music activities as seen through amateureyes. As Booth wiselystates,"No one inmidlifeis likelyto take up any instrument, let alone the cello, without having fallenin lovewithmusic longbefore"(21). Clearlyfrom a musical family, he describes beautiful childhood memories including dancing with his mother at age five; making up songs; taking piano and clarinet lessons; singing three-part solfège exercises in sixth grade; and hearing his first live orchestra concert, the Philadelphia Orchestra conducted by Leopold Stokowski (22-8). These types ofactivities lay an important foundation for the pursuit of music by adults as "amateuring in our early years can lead to a lifetime ofamateuring" (22). Booth is a champion ofmusic education in the schools. Concerned with music program cuts and the prevalence of personal stereos that keep young people from "getting music into their bones, not just their ears," he encourages the funding of music lessons rather than computer games (22). After describing how he was "seducedbythe cello," he concludesthis section with a discussion of how other pleasures rival for the amateur's attention, suggesting that leisure activities often take the form of passive pastimes, not the active work oftrue amateuring. LikeVemon HowardmLearningByAllMeans, Boothgrapples with the concept of work versus play. 2 If amateurs are to spend their leisure hours working diligently at getting better, the work must be©Philosophy ofMusic Education ReviewlO, no. 2 (Fall 2002): 140-143. Book Review 141 experienced as play-something they love to do. While professional musicians are paid to play, often playing for the love ofit fades as themoney blossoms. He maintains the distinction between amateurs and professionals lies not with being paid or unpaid, but with playing for love or solely for money. "My heroes... are the professionals Icallpro-amateurs-thosewillingtojoinamateurs, pursuingthe love together," statesBooth (59, 60). I believe music educators are foremost among these heroes. In "Second Movement: The Marriage," many insights into the teachingofaging amateurs are provided. First, he observes that while his level of cello playing rises with age... (shrink)

Throughout an illustrious career of teaching and writing that spans five decades, philosopher Needleman has always tackled the "big questions" of life. In this collection of six feature interviews that began in the 1980s, Miller and Needleman discuss "Making Sense of Mysticism, The Secrets of Time and Love, The Meanings of Money, Searching for the Soul of America, Meeting God without Religion, " and "The Need for Philosophy.".

In this remarkable book of searching yet down-to-earth dialogues, readers will discover the keys to their own practice of philosophy, 'the love of wisdom'" --Publisher's description.

Corruption involves greed, money, and risky decision-making. We explore the love of money, pay satisfaction, probability of risk, and dishonesty across cultures. Avaricious monetary aspiration breeds unethicality. Prospect theory frames decisions in the gains-losses domain and high-low probability. Pay dissatisfaction (in the losses domain) incites dishonesty in the name of justice at the individual level. The Corruption Perceptions Index, CPI, signals a high-low probability of getting caught for dishonesty at the country level. We theorize that decision-makers adopt (...) avaricious love-of-money aspiration as a lens and frame dishonesty in the gains-losses domain (pay satisfaction-dissatisfaction, Level 1) and high-low probability (CPI, Level 2) to maximize expected utility and ultimate serenity. We challenge the myth: Pay satisfaction mitigates dishonesty across nations consistently. Based on 6500 managers in 32 countries, our cross-level three-dimensional visualization offers the following discoveries. Under high aspiration conditions, pay dissatisfaction excites the highest- (third-highest) avaricious justice-seeking dishonesty in high (medium) CPI nations, supporting the certainty effect. However, pay satisfaction provokes the second-highest avaricious opportunity-seizing dishonesty in low CPI entities, sustaining the possibility effect—maximizing expected utility. Under low aspiration conditions, high pay satisfaction consistently leads to low dishonesty, demonstrating risk aversion—achieving ultimate serenity. We expand prospect theory from a micro and individual-level theory to a cross-level theory of monetary wisdom across 32 nations. We enhance the S-shaped Curve to three 3-D corruption surfaces across three levels of the global economic pyramid, providing novel insights into behavioral economics, business ethics, the environment, and responsibility. (shrink)

Love and money, according to the intuitive logic of Christian political theology, stand in opposition to each other. Where economic relations obtain, relations of love are understood to be absent or distorted. The opposition between the two has led social theorists and political theologians—including John Milbank, Kathryn Tanner, and Daniel M. Bell—to understand Christian love as a reservoir of opposition to the politics of contemporary financialized capital. This opposition, however, ignores the complex interrelationship that has characterized (...) Christian thought about love and money. Love and money—and their apparent competitive relationship—have been understood throughout the history of Christian thought on the basis of a relationship both maintain to the notion of indebtedness. This paper argues that any apparent tension between Christian theological caritas and oikonomia must to be contextualized in terms of a shared relationship between both of these concepts and the organization and administration of relations of debt and obligation. (shrink)

This paper explores the relationship between revolution and corruption in Jean Genet’s accounts of the Palestinian movement in his final work, Prisoner of Love. For Genet, corruption does not simply expose the actions of a revolutionary subject as an empty impersonation, performed for the actual ends of acquiring personal power and fortune. Rather, it exposes the ‘pretension’ inherent in the revolution it undermines as well as in the accumulation of value. For Genet, the misappropriation of money by the (...) Palestinian leadership makes manifest the imaginary character of both devotion to a revolutionary cause and greed for the commodity-fetish. Corruption, in other words, betrays revolution as well as the ‘imaginary wealth and power’ which the ‘game of revolution’ attempts to destroy. (shrink)

For Plato, one mark of the difference between sophistry and philosophy is that the sophist takes fees for service. His Socrates does not. However, this paper points out that Socrates' attitude to money reflects his unique indifference to things bodily, and a more satisfactory understanding of Plato on money needs to turn to his discussion of the love of money or avarice, especially in the Republic. Plato locates money-loving in appetitive soul along with physical cravings (...) like hunger and lust; why he should do so is explained if avarice is seen as a primary instance of a more pervasive possessiveness that is ultimately somatic in nature. I argue that though his remedies are too severe, Plato is right to warn against avarice and its possible effects upon the practice of philosophy. And following Plato I conclude that philosophy is best understood as enquiry unconstrained by the interests of the market and carried out in the context of academic freedom. (shrink)

Recent cases in the United States and Australia have catapulted surrogacy into the forefront of debates and public policy regarding new procreative technologies, even though gestating and birthing a baby for another woman does not necessarily involve artificial insemination or in vitro fertilization. Feminists have condemned commercial surrogacy because it borders on baby selling and exploits women. Similar criticism has appeared in the mass media, but these forums, as well as the medical profession, have considered noncommercial surrogacy as more acceptable (...) because of the absence of monetary exchange. Using two cases of surrogacy, this article argues that the distinction between commercial and altruistic surrogacy is socially constructed rather than based on self-evident or intrinsic differences. Both types of surrogacy involve the application of pervasive gender norms specifying that women's motivations to have children should be based on emotion, selflessness, and caring, not on self-interest, financial incentives, or pragmatism. Applying these norms renders commercial surrogacy deviant, but altruistic arrangements more acceptable. However, the article's central argument is that both types of agreement can entail exploitation, the denial of the birth mother's rights, and the severe reduction of her autonomy. (shrink)

: Money motivates people, lubricates the movement of resources, mobilizes talent, and breaks down some barriers. But money also has a darker side; it can distract, corrupt, distort, and cruelly exclude. Money is a useful but unruly servant; sometimes, a hard master. The professional, at least in part, belongs to the world of money. We sometimes distinguish the amateur from the professional in that the amateur does it for love; the professional, for money. The (...) professional has one foot in the marketplace, but also, purportedly, professes something else--beyond the bottom line. The following discussion explores the morally complex ties and tensions between money and the medical professions. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:diacritics 34.1 (2004) 3-17 [Access article in PDF] Universal Shylockery Money and Morality in The Merchant of Venice Simon Critchley Tom McCarthy What if Nietzsche were a Jew, and a mean-minded Venetian Jew at that? We'd like to begin with the thought experiment of imagining The Merchant of Venice as a genealogy of morality and imagining Shylock as Nietzsche. What is The Merchant of Venice about? What is (...) at stake in this oddly inside-out drama, where a piece of good old Elizabethan comic Jew-baiting rotates 180 degrees into a devastating study of Christian anti-Semitism only to flip back into what it seemed to deny? Our initial hypothesis is that it is nothing less than an inquiry into the origin of our moral concepts of justice, good and bad, and more particularly guilt, law, mercy, and love. It is here that a link with Nietzsche suggests itself, particularly with the Second Essay of On the Genealogy of Morals.* * *How do we breed an animal with the right to make promises? For Nietzsche, the human being is an originally forgetful creature, like a young child. To make this originally forgetful creature remember requires physical discipline; it behooves punishment. The teaching of morality is never gentle; it never droppeth from heaven like gentle rain. On the contrary, if something is to be retained in memory, it must be burned in. The origin of memory lies in pain and cruelty: "Man could never do without blood, torture and sacrifices when he felt the need to create a memory for himself" [GM 61]. Nietzsche's first, astonishing hypothesis in the Second Essay is that the origin of concepts like responsibility and conscience lies in cruelty—cruelty administered and maintained through a corporal and corporeal regime. Further, as religions are systems of cruelty, all forms of asceticism originate in the same painful place. "Consider the German punishments," Nietzsche proposes—and we all know that there's nothing quite like the German punishments: stoning, breaking on the wheel, piercing with stakes, tearing apart or trampling with horses, boiling in oil, flaying alive, cutting straps from the flesh, smearing the wrongdoer with honey and leaving him to the flies in the blazing sun. As Nietzsche quips, with magnificent understatement, "With the aid of such images and procedures one finally remembers five or six 'I will not's'" [GM 62]. It is on the basis of this burned-in memory of cruelty that good, decent, upright burghers such as ourselves acquired the habit of moral reasoning:Ah, reason, seriousness, mastery over affects, the whole sombre thing called reflection, all these prerogatives and showpieces of man: how dearly they have been bought! How much blood and cruelty lie at the bottom of all "good things." [GM 62] [End Page 3]"Dearly bought": let's hold onto that trope of purchasing. In another extraordinary passage of the Second Essay, Nietzsche explains the origin of thinking itself in terms of economic activity:Setting prices, determining values, contriving equivalences, exchanging—these preoccupied the earliest thinking of man to so great an extent that in a sense they are thinking [das Denken ist]. [GM 70] In the beginning was trade. Human activity begins with exchange, with the to and fro of buying and selling, which are forms of life older than all other social alliances and organization. It is from here, Nietzsche insists, that human beings arrive at the first moral canon of justice:"Everything has its price; all things can be paid for"—the oldest and most naïve moral canon of justice, the beginning of all "good-naturedness," all "fairness," all "good will," all "objectivity" on earth. [GM 70] Which brings us to the origin of das Bewusstsein der Schuld and schlechte Gewissen, the consciousness of guilt and bad conscience. Nietzsche's hypothesis here, and our theme is beginning to come into focus, is that the origin of guilty conscience lies in the relation between a creditor and debtor, Glaubiger und Schuldner. The spiritual concept of guilt, Schuld, originates in the very material concept of Schulden... (shrink)

Why choose less money over more when no one is watching? A central tenet of economics is that this behaviour can be explained by intrinsic motivation. But what does intrinsic motivation entail? What encourages it? This paper answers these questions through a Smithian lens: moral motivation includes not only a naturally strong love of praise and dread of blame but also a natural, and stronger, love of being worthy of praise and dread of being worthy of blame, (...) even if neither is necessarily given. I rely on quantitative and qualitative data from economic experiments to illustrate this claim. While the current scholarship on Smith has applied his theory to situations in which our actions either evoke reactions from others or have monetary consequences for them, I extend his insights to receiver games and dice-rolling games aimed at eliciting self-regarding concerns, that is, actions affecting the interests of only ourselves. I argue that these games accentuate the strength of the love of praiseworthiness in guiding behaviour, emphasising its immediate reference to others and foundation in intentions along with outcomes. (shrink)

The Invention of Market Freedom, Eric MacGilvray , 216 pp., $94 cloth, $26.99 paper.What Money Can't Buy: The Moral Limits of Markets, Michael Sandel , 256 pp., $27 cloth, $15 paper.Money: The Unauthorised Biography, Felix Martin , 336 pp., £20 cloth, £9.99 paper.Money has always inspired obsession, both in those who amass it and in those who think about it. “Man will never be able to know what money is any more than he will be able (...) to know what God is,” wrote the French financier Marcel Labordère to his friend John Maynard Keynes. The analogy is apt. Money, like God, injects infinity into human desires. To love it is to embark on a journey without end. (shrink)

According to Ibn Khaldūn, man is a social entity deeply influenced by the geo-economics-politics of the environment in which he lives. The effect is seen as so strong that nearly all of these structures in their relationship to human beings are dominated by it. In this system, we see human beings as a creature who is both able to adapt himself to the environment and able to evolve in this harmony. From the perspective of Ibn Khaldūn, man cannot be evaluated (...) or defined separately from the environmental conditions, the technique and architecture he has developed. Ibn Khaldūn sees the primary source of this change to be the desire to make life both more prosperous and bearable. Therefore, the most natural motivations that affect man’s desire to alter the natural world are the environmental challenges that he encounters. The challenges that are imposed upon man in the natural world are those that have led to human progress. From badāwa (nomadic society) to ḥaḍāra (sedentary society) and so to the ceaseless drive of human progress that has served to make life more endurable, every effort in this sense leads to a physical and moral loosening as the incessant struggle to survive that defines human existence is made more bearable. Physical slack by breaking the resistance of man to resist the environmental conditions; and moral looseness by making man more vulnerable to the temptation of desires, pleasures and welfare that are the cause of moral dilemmas. Ibn Khaldūn’s moral thought with its social, political, and other fields of application are all contexts that enable an understanding of the devaluation of money-hedonist morality in all ways. This article aims to analyze the social, political and economic dilemmas and challenges that the capitalist, consumption-based money-hedonist morality (obesity, social media addiction, consumption, and moral devaluation in the face of financial, virtual and imagined valuations, etc.) from the perspective of Ibn Khaldūn. Summary: Man is endowed with both good and evil. Ibn Khaldūn notes that man tends to misuse these two orientations with a higher inclination towards evil, and that social conditions have an effect on this. He sees another characteristic of man, that they develop habits; accordingly, man is the child of his habits. Habits are second nature to man and affects all of his perceptions, particularly notions concerning truth. At the same time, human beings are under the constant influence of both habits, culture, and climate and geography; and all of these together affect our ethics, psychology and characteristics. Thus, man is a historical, social being that is changed, transformed and determined by adapting to these cultural, social, political and ecological conditions. The concept of Money-Hedonism is one that we have created by combining the terms monetarism, an economic concept, and hedonism, a concept in moral philosophy; the resulting term we seek to produce essentially translates as the adoration of Money. As is well known, hedonism refers to a philosophy of life that has its origins in the ancient Greek world which sees the purpose of life as one in which the pursuit of pleasure is the highest good. Whereas, Monetarism is an American-based economic view developed by Milton Friedman in 1970, linking all the balance in the economy to the supply and demand of money. According to this, the demand for money is operation, precaution and motives of speculation of individuals the amount of money they want to keep in cash on them. The power of an exchange tool increases with the amount and quality of what it is achievable in its utilization. In this respect, money has been an unprecedented source of power in modern society as a means by which change can be achieved. The increase in the power of money as an effective means as manifesting power has led to a socio-cultural and socio-economic superstructure around this power. In the life of an individual that is part of such a culture and is unable to isolate himself from the economy in which he lives, the values that can be expressed with money are consequently formed. In this structure, since the measure of life is money, money determines the quality of human life and human pleasure to a far greater degree than at any time in history. Thus, those living in this age have developed a new moral philosophy of value formed by the combination of these two concepts (monetarism and hedonism), which we have defined as Money-Hedonism. The money-hedonist individual is one that is in love with money, the joy of having it, the pleasure of using it, who desires it with immeasurable passion and ambition and is willing to use all legitimate and illegitimate methods of obtaining it. The most prominent characteristics of this type of individual is egoism, a desire to possess, hatred and mistrust. Ibn Khaldūn argues that the inhabitants of a city that live a settled life and who are living in the city have become economically prosperous and absorbed by consumption and pleasure, and, consequently morally degenerate as a result of the abuse of their evil nature. As can be understood from Ibn Khaldūn’s explanations, the basic element that determines the transition of people from the badāwi way of life to ḥaḍāri (settled) is the change in the livelihoods and related needs. He perceives this change as progressing from necessity to luxury, and, with this change, ethical concern in the nature of people being replaced by aesthetic care. In this way, since aesthetic concern reveals the dissatisfaction of the human self, man always pursues what is perceived to be better and more beautiful, and therefore he easily tends to any malignancy that may disrupt his religious and worldly peace. The ḥaḍāra community of Ibn Khaldūn versus the badāwa represent a modern society with a much more heterogeneous population, with a significant increase in lifestyle diversity along with urbanization. However, the determinative effect of the relationship with nature or the way in which society engage in economic activities have not changed. While modern people are urbanized, they are also heterogeneously shaped by psycho-social necessities demanded by urbanization. Man has created a new socio-psychological condition that not only affects the socio-economic but the way of forming a relationship through the accelerated development of new communication methods, facilitating access to information, and the opening of new methods of communication field between institutions. While man’s connection to nature has become disconnected, he no longer perceives himself as human being in nature but as a human within the city, the individual urban life and the law define this perception. The rupture from nature has created an inevitable result of alienation to nature as well as the estrangement of man with his own nature. The liberal policies adopted with capitalism have encouraged competition and free entrepreneurship. In the time that Ibn Khaldūn lived, man who created himself with his struggle in the nature brings himself / herself into the economic structure of competition in the modern period. Unlike in more traditional societies of the past, the modern way of life not only expresses itself in our new way of life and moral values, but also by statistical values. The exploitative and mathematical world, which forms the current economic science, shapes the socio-economic and socio-psychological structure of modern man. It is understood that the life brought by luxury renders the dynamic, subjective, disciplined sense of morality dysfunctional by destroying the moral values of man, particularly by reducing their feeling of shame. As a result, while the world of value of money-hedonism is solid, materialistic and cold; man in trying to exist in this world of value carries a flexible, spiritual and emotional nature. As such, human beings are pushed into social anomaly situations such as a constant conflict, dilemma, suicide, insecurity and solitude in this world of value. (shrink)

A love-based reason theory as a new perspective in the debate on practical reasons. Reasons and obligations pervade our lives. The alarm clock gives us a reason to get up in the morning, the expectations of colleagues or clients give us a reason to do our jobs well, the misery in developing countries gives us a reason to donate money, headaches give us a reason to take an aspirin. Looking for unity in variety, philosophers wonder what makes a (...) consideration count as a reason to do something. The nature and source of practical reasons has been debated intensively over the last three decennia in analytic philosophy. This book discusses the three most influential theories in current debates, referred to as the desire-based, the value-based, and the rationality-based theories of practical reasons. The author argues that all three are defective because they overlook the role of what agents care about. (shrink)

Although ethics education within the business curriculum has been receiving attention, much is unknown about the effectiveness of such education, particularly when it is integrated into the curriculum. This study looks at selected short-term effects produced by one form of integrated ethics instruction in an introductory marketing course in a graduate business MBA program in the United States. Specifically, students were introduced to an examination of consumer culture as a unifying framework to explore the ethics of decision making. As a (...) consequence of taking the course, students are hypothesized to hold less favorable attitudes toward consumer culture (love of money, materialism, possession satisfaction index, prestige sensitivity) relative to the attitudes held at the start of the course. Interestingly, few attitudinal changes are observed. Where changes in attitudes are observed, the relationships are in the opposite direction to that hypothesized. (shrink)

This research investigates 266 business students' panel data across 4 time periods and tests a theoretical model involving intrinsic religiosity, the love of money, Machiavellianism, and propensity to engage in unethical behaviors. There was a short ethics intervention between Times 3 and 4. We identified good apples and bad apples using the PUB measure collected at Time 4. From Time 3 to Time 4, good apples became more ethical, whereas bad apples became less ethical after the ethics intervention. (...) Moreover, for the whole sample, intrinsic religiosity deterred unethical intentions not only directly but also indirectly through the absence of Machiavellianism. Before the ethics intervention, intrinsic religiosity curbed unethical intention directly for good apples but indirectly for bad apples. After the intervention, only the indirect effect was significant for bad apples. Intrinsic religiosity offers us hope to open the hearts of the lost sheep and bring them home. Research results were discussed in light of this study's theoretical, empirical, and practical contributions; Judeo-Christian ethics and values; challenging roles of educators and executives in educating Gen-Yers; creating a sea change of the ethical social norm in schools, organizations, and society, or ethical community building, and promoting ethical behavior; and future directions for research. (shrink)

We develop a theoretical model, explore the relationship between temptation (both reflective and formative) and unethical intentions by treating monetary intelligence (MI) as a mediator, and examine the direct (temptation to unethical intentions) and indirect (temptation to MI to unethical intentions) paths simultaneously based on multiple-wave panel data collected from 340 part-time employees and university (business) students. The positive indirect path suggested that yielding to temptation (e.g., high cognitive impairment and lack of self-control) led to poor MI (low stewardship behavior, (...) but high cognitive meaning) that, in turn, led to high unethical intentions (theft, corruption, and deception). Our counterintuitive negative direct path revealed that those who controlled their temptation had high unethical intentions. Due to the multiple faces of temptation (the suppression effect), maliciously controlled temptation (low cognitive impairment and high self control) led to deviant intentions. Subsequent multi-group analysis across gender (a moderator) reformulated the mystery of temptation: a negative direct path for males, but a positive indirect path for females. For males, the negative direct path generated a dark impact on unethical intentions; for females, the positive indirect path did not, but offered great implications for consumer behavior. Both falling “and” not falling into temptation led to unethical intentions which varied across gender. Our counterintuitive, novel, and original theoretical, empirical, and practical contributions may spark curiosity and add new vocabulary to the conversation regarding temptation, money attitudes, consumer psychology, and business ethics. (shrink)