The Matthew Effect in monetary wisdom

IF 1.9 Q2 ETHICS

Asian Journal of Business Ethics Pub Date : 2021-07-10 DOI:10.1007/s13520-021-00126-x

Thomas Li-Ping Tang

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引用次数: 10

Abstract

Robert King Merton’s article published in Science popularized the Matthew Effect: “For to everyone who has, more will be given and he will grow rich; but from the one who has not, even what he has will be taken away” (Matthew 25:29). The Matthew Effect prevails at the individual, organization-industry, and country-global levels. This interdisciplinary review connects the Holy Bible with agency theory, tournament theory, corporate social responsibility (CSR), prospect theory, behavioral economics, the psychology of money, and business ethics in the literature. I expand the Matthew Effect, incorporate prospect theory and the love of money (1 Timothy 6:9–10), and develop a multi-level theory of the Matthew Effect in Monetary Wisdoms: Individual decision-makers apply their deep-rooted values (avaricious monetary aspiration, the love of money attitude) as a lens, frame the critical concerns in the immediate and omnibus contexts, and maximize expected utility and ultimate serenity-happiness across people, context, and time at the individual, organization-industry, and country-global levels. The rich (with talents, integrity, character, and wisdom) serve God, enjoying the ultimate joy and happiness. The poor serve mammon, destroying their lives. The rich get richer. The poor get poorer. Scholars of business ethics and CSR must explore this phenomenon in future studies.

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货币智慧中的马太效应

罗伯特·金·默顿在《科学》杂志上发表的一篇文章推广了马太效应:“因为每个拥有的人，会得到更多，他会变得富有;没有的，连他所有的，也要夺去”(马太福音25:29)。马太效应在个人、组织、行业和国家-全球层面普遍存在。这篇跨学科的评论将《圣经》与代理理论、竞赛理论、企业社会责任(CSR)、前景理论、行为经济学、金钱心理学和商业伦理等文献联系起来。我扩展了马太效应，将前景理论和爱钱结合起来(提摩太前书6:9-10)，并在货币智慧中发展了马太效应的多层次理论:个人决策者运用他们根深蒂固的价值观(贪婪的金钱欲望，对金钱的热爱态度)作为一个镜头，在直接和综合的背景下构建关键问题，并在个人，组织，行业和国家-全球层面上最大化预期效用和最终的安全-幸福，跨越人，环境和时间。富有的人(有才能、正直、品格和智慧)事奉神，享受终极的喜乐和幸福。穷人为财神服务，毁了自己的生活。富人越富越富。穷人越来越穷。企业伦理和企业社会责任学者必须在未来的研究中对这一现象进行探讨。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Asian Journal of Business Ethics ETHICS-

CiteScore

2.60

自引率

38.50%

发文量

期刊介绍： The Asian Journal of Business Ethics (AJBE) publishes original articles from a wide variety of methodological and disciplinary perspectives concerning ethical issues related to business in Asia, including East, Southeast and South-central Asia. Like its well-known sister publication Journal of Business Ethics, AJBE examines the moral dimensions of production, consumption, labour relations, and organizational behavior, while taking into account the unique societal and ethical perspectives of the Asian region. The term ''business'' is understood in a wide sense to include all systems involved in the exchange of goods and services, while ''ethics'' is understood as applying to all human action aimed at securing a good life. We believe that issues concerning corporate responsibility are within the scope of ethics broadly construed. Systems of production, consumption, marketing, advertising, social and economic accounting, labour relations, public relations and organizational behaviour will be analyzed from a moral or ethical point of view. The style and level of dialogue involve all who are interested in business ethics - the business community, universities, government agencies, non-government organizations and consumer groups.The AJBE viewpoint is especially relevant today, as global business initiatives bring eastern and western companies together in new and ever more complex patterns of cooperation and competition.