Greed, Self-Interest and Business Ethics–A Comparative Discussion of Gandhi and Novak

Today it is commonly believed that capitalism is driven by greed. However, greed is condemned by various religious traditions. In this paper we compare how Mahatma Gandhi, a Hindu, and Michael Novak, a Catholic, see the possibilities of engaging in competitive business practice without the motive of greed. This discussion suggests a need to distinguish greed from self-interest. We therefore analyze whether it makes a difference in moral evaluation to claim that the real driving force of capitalism is self-interest but not greed. Our analysis makes use of the rational-care theory of self-interest developed by Stephen Darwall, the discussion of which has been absent in the business ethics literature. Our conclusion is that there is a quantitative but not qualitative difference between the two.