Abstract
The social sciences are replete with a mature literature and treatments, both empirical and theoretical, on culture and economic development (see the “Annotated Bibliography” on this topic by Fred Van Dyke, AuSable Institute, Madison, WI, 1996). The concepts of social capital and human capital are by now rich and extend beyond economics to management, human resources, political science, and sociology. Indeed, both have become in recent decades important, twin pillars in capitalism and democracy. They each operate at individual, corporate, societal, and global levels. Spiritual capital has come to prominence in recent years due to the combination of three related trends: the failure of secularization/modernization theories to account for reality, a rise in religiosity globally, and the lack of ethics and virtue evidenced in the financial crisis and an ongoing plague of corporate scandals. Conceptions of spiritual capital on offer range from those by Fogel to Coleman to Berger and Putnam (see reference section of this chapter) and appear more regularly in the economic and social science literature and popular accounts. In that sense, the concept of “spiritual capital” is truly emerging.
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- 1.
See the “Annotated Bibliography” on this topic by Fred Van Dyke, AuSable Institute, Madison, WI, 1996.
- 2.
See reference section of this chapter.
- 3.
Ted Malloch, Spiritual Enterprise: Doing Virtuous Business, New York: Encounter, 2010.
- 4.
R.H. Tawney, Religion and the Rise of Capitalism, London: Mentor, 1928.
- 5.
Max Weber, The Protestant Ethic and the Spirit of Capitalism, London: Penguin, 1905. Translated 1930.
- 6.
Dan Cohen and Laurence Prusak, In Good Company: How Social Capital Makes Organizations Work, Cambridge: Harvard Business Press, 2001.
- 7.
The World Bank, World Development Report, 1985, p.29.
- 8.
Robert Putnam, ed., Democracies in Flux: The Evolution of Social Capital in Contemporary Society, New York: Touchstone, 2001.
- 9.
Cohen and Prusak, p.14.
- 10.
Loury, Glenn C. (1976). A Dynamic Theory of Racial Income Differences, Northwestern University, Center for Mathematical Studies in Economics and Management Science, Discussion Papers: 225.
- 11.
Bourdieu, Pierre (1986). “Forms of Capital” in Handbook of Theory and Research for the Sociology of Education edited by J. G. Richardson. New York: Greenwood Press.
- 12.
Coleman, James S. (1990). Foundations of Social Theory Massachusetts, Belknap.
- 13.
Lin, Nan. Social Capital: A Theory of Social Structure and Action, Cambridge: Cambridge University Press, 2002; Lin, Nan, Social Capital: Theory and Research. Piscataway, New Jersey: Aldine Transaction, 2001; Lin, Nan, Foundations of Social Research New York: McGraw-Hill Press, 1978.
- 14.
Robert Putnam, Robert Leonardi and Raffaella Nanetti. Making Democracy Work, Princeton: Princeton University Press, 1993.
- 15.
Robert Putnam, Bowling Alone: The Collapse and Revival of American Community, New York: Touchstone, 2000.
- 16.
Putnam, R.D. and D. Campbell, American Grace: How Religion Is Reshaping Our Civic and Political Lives. New York: Simon and Schuster, 2010.
- 17.
Gary Becker, The Economic Approach to Human Behavior, 1978 and other works.
- 18.
Works by Richard Crawford on management.
- 19.
Thomas O. Davenport, Human Capital: What It Is and Why People Invest It, San Francisco: Jossey-Bass, 1999.
- 20.
Jack Phillips, et al. The HR Scorecard, New York: Butterworth, 2001.
- 21.
See “Planetheonomics” Papers on Economics, Ecology and Christian Faith, AuSable Institute, 1996 which includes papers by economists such as the following: Mark Thomas, Robert Hamrin, Bob Goudzwaard, Herman Daly, Donald Hay, Lans Bovenberg, and Theodore Malloch.
- 22.
W.W. Rostow, his many titles on the stages of economic growth, economic development, and Asia.
- 23.
David Apter, his many works on modernization, Africa, and political culture.
- 24.
See, for instance, Cardoso, Emmanuel, Frank, Hymer, Leys, Wallerstein, Finn, and Brown.
- 25.
See, for instance, Rodan, Lewis, Prebisch, Chenery, and Nurkse, page 9.
- 26.
This is in part due to the resurgence of neoclassical development economics in the late 1970s (Solow, Kaldor, Kahl, and Smith) which coincided with a more radical movement toward increased concern for unemployment, poverty, and “basic needs.” Some of these thinkers would place themselves outside of the mainstream of development thinking (Healy, Myrdal, Singer, among others).
- 27.
Peter Berger, Pyramids of Sacrifice, 1986, and other works by this author.
- 28.
See “Development from a Christian Perspective,” Lans Bovenberg and Theodore R. Malloch, AuSable Institute paper, 1996.
- 29.
See Willy Brandt on north–south and the generation of literature on sustainable economic development.
- 30.
See Theodore Roosevelt Malloch, Doing Virtuous Business, Nashville: Thomas Nelson, 2011 and the PBS documentary by that title at: www.doingvirtuousbusiness.com.
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Malloch, T.R. (2013). Spiritual Capital as Practical Wisdom for Management. In: Neal, J. (eds) Handbook of Faith and Spirituality in the Workplace. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-5233-1_19
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