Ethical Principles of Old Testament Economics: Implications for the Teaching of Business Ethics

The paper reviews ethical principles, including certain theological principles that have been drawn from the field of economic research on the Old Testament. It critically examines the type of lessons that can be learned from adherence to such principles for the teaching of business ethics, and how such principles can subsequently inform and be incorporated into management practises. In terms of ethical assessments, on the one hand the paper connects to the Judeo-Christian tradition, and to institutional and constitutional economics on the other. The paper reviews several stories from the Old Testament and extracts ethical principles on good management practice, in particular from the stories of Joseph and Solomon. These stories appear to be especially rich in terms of ethical principles for business activity. Also, certain deficits of Old Testament based economics as compared with a contemporary economic approach to business ethics have been highlighted.