The Need For Spiritual Capital

Ignatius Loyola Statue - Peace Quad - College of Business - Loyola University New Orleans

American culture is confronting a new chapter in its struggle since the late 1960s to come to grips with an effective business ethics for a pluralistic society. The scandals of Enron and WorldCom constitute egregious examples of the absence or deficiency of ethical decision-making in matters of commerce.

This corporate immorality is a reminder of the ineffectiveness of an ethics grounded alone in utilitarian rationalism, and its ineffectiveness in dealing with the newly forming social relationships of a post-modem global economy. Re-grounding will require a more sophisticated relationship with the spiritual roots of business ethics. Loyola has a unique plan and resources for furthering the development of this relationship, both theoretically and practically.


Loyola's goal for the center is to revitalize America's spiritual capital. Judeo-Christian heritage is the core of America's spiritual capital. As the defining element in American culture it has made possible our economic and political achievements and freedoms; these achievements cannot be sustained without that heritage; the heritage has important positive implications for commerce both nationally and globally; the heritage is often misunderstood and misrepresented, and, for all of the above reasons, the heritage needs to be reaffirmed.

Loyola's College of Business is well positioned to take the lead locally, regionally, and nationally in fostering the importance of spirituality in modern workplaces. Today, organizations need ethical decision-makers to support a productive culture of trust and moral decision-making. This culture, combined with the innovative drive of entrepreneurial thinking, will create a sustainable differential advantage for leaders that choose to follow the path of creating spiritual capital.

The new Center for Ethics and Economic Justice will work achieve this goal both academically and culturally. The center will be a comprehensive resource center for those interested in exploring or dealing with specific issues in business. We strive to attract and foster a new generation of students who will exercise a more profound role as entrepreneurs in business and leaders in both commerce and culture. Our outreach programs with executives will reaffirm, reeducate, and inspire them to make even greater contributions.