I continue to be encouraged and challenged as I read Bogle’s book, which has been the topic of my posts recently.
My topic today reminded me of another book that my pastor gave me a few years ago called Business For the Glory of God. In it, Wayne Grudem makes a strong case for the fact that business in its basic form is inherently and morally good, not bad. In a time when we see a lot of questionable business activity, it is not surprising that many of us would think the opposite – as Grudem puts it: “that there must be something in business that inherently tends toward wrongdoing.” Grudem makes a case to the contrary, however, and surprisingly makes it from a biblical worldview when he promotes the inherent moral goodness of business.
John Bogle agrees with this view as he starts his second chapter called “Too Much Speculation, Not Enough Investment.” Here is what he says, and I have to agree wholeheartedly:
Investing is all about the long-term ownership of businesses. Business focuses on the gradual accumulaton of intrinsic value, derived from the ability of our publicly owned corporations to procuce the goods and services that our consumers and savers demand, to compete effectively, to thrive on entreprenuership, and to capitalize on change. Business adds value to our society, and to the wealth of our investors.
Recently I have met with a growing number of clients who own or have recently started in business for themselves. The idea of starting or owning a business is one that not every person tends toward, and the ventures they start vary as much as their dreams and personalities.
But I was encouraged this morning that we all have one thing in common as we run, work in, invest in or support businesses: That we are a part of something that is God given and inherently Good.