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The Matthew Effect in monetary wisdom
Asian Journal of Business Ethics Pub Date : 2021-07-10 , DOI: 10.1007/s13520-021-00126-x
Thomas Li-Ping Tang 1
Affiliation  

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.



中文翻译:

货币智慧中的马太效应

Robert King Merton 在《科学》杂志上发表的文章推广马太效应:“因为谁拥有,就会得到更多,他就会变得富有;没有的,连他所有的,也要夺过来”(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。这篇跨学科评论将圣经与文献中的代理理论、锦标赛理论、企业社会责任 (CSR)、前景理论、行为经济学、金钱心理学和商业道德联系起来。我扩展了马太效应,结合了前景理论和对金钱的热爱(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:个体决策者应用他们根深蒂固的价值观(贪婪的金钱愿望,贪财的态度)作为镜头,在当前和综合环境中构建关键问题,并在个人、组织-行业和国家-全球层面最大限度地提高人们、环境和时间的预期效用和最终的宁静-幸福。富人(有​​才能、正直、品格和智慧)侍奉上帝,享受终极的喜乐和幸福。穷人侍奉财神,毁了他们的生命。富人越来越富。穷人越穷。商业道德和企业社会责任的学者必须在未来的研究中探索这一现象。摧毁他们的生活。富人越来越富。穷人越穷。商业道德和企业社会责任的学者必须在未来的研究中探索这一现象。摧毁他们的生活。富人越来越富。穷人越穷。商业道德和企业社会责任的学者必须在未来的研究中探索这一现象。

更新日期:2021-07-12
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