Adam Smith's image of competition in the marketplace was intended as an adjunct to his detailed description of human motivation in The Theory of Moral Sentiments , in which the pursuit of profit is tempered at every juncture by sympathy and benevolence, and by the posture of the "impartial spectator" which is forced on us by our moral nature.

Ted Malloch

Categorized in : Motivation Moral Competition

Capitalism is about the mutual creation of wealth rather than the pillaging of it.

Ted Malloch

pillaging wealth creation

Taking faith seriously leads to the utility of altruistic behavior.

Ted Malloch

utility behavior

Leadership, in other words, is a matter of character, not goals.

Ted Malloch

goal matter character

Spiritual entrepreneurship is the unsung route to growth in the modern economy.

Ted Malloch

entrepreneurship growth spiritual

Courage... is not a selfish attribute: it is only possible if you are pursuing a wider and more worthy goal.

Ted Malloch

attributes selfish goal

When people freely identify with their work and find themselves through it, excellence follows.

Ted Malloch

excellence people

Three cardinal virtues of business: creativity, building community, practical realism.

Ted Malloch

creativity community three

Profitability is the consequence of doing business in the right way, to honor God.

Ted Malloch

profitability honor way

The moral sentiments that constrain economic life also promote it.

Ted Malloch

sentiments economic moral

Perhaps the most eloquent of the hard virtues is courage, the disposition to encounter adversity head-on and strive to overcome it.

Ted Malloch

encounters adversity overcoming

Faith engenders courage; and also requires it.

Ted Malloch

One runs a business ultimately to do well so you can do good for everyone.

Ted Malloch

wells can-do running

Caring for God's endowment in a thrifty fashion is a form of biblical obedience.

Ted Malloch

biblical fashion caring

Discipline is the virtue that begins in obedience and flowers in self-control.

Ted Malloch

discipline flower self

Profit doesn't appear as the goal but as a side effect of pursuing motivating principles.

Ted Malloch

principles goal sides

In the new conditions created by the global economy, the information revolution and the growth of smart technologies, it is more necessary than ever for all companies to be guided by their rich spiritual inheritance, as spiritual enterprises.

Ted Malloch

smart technology spiritual

Business is the real test of the moral life.

Ted Malloch

moral tests real

We prepare for success by acquiring virtues.

Ted Malloch

virtue

The business virtue par excellence is honesty without it markets can't long survive.

Ted Malloch

honesty excellence long

When all benefits are promised by the state, nobody need feel grateful for them.

Ted Malloch

benefits grateful needs