Intersections’ Power and Values Launches with Panel Discussion and Blog

On Dec. 7, Intersection’s Power and Values program presented Profits and Prophets, a discussion focused on invoking religion and God to justify business success and bonus excess. Program staff also launched a blog Dec. 16 aimed at structuring a national conversation about the value systems that bind the exercise of power in the world. The blog is managed by Intersections fellow Sam Simon and examines, proposes and advocates policies that embody ethically responsible norms for decision makers, and holds them accountable to those values.

The panel featured Rabbi Jerome K. Davidson, lecturer on social responsibility and holder of the Jerome K. Davidson Chair of Social Responsibility at Hebrew Union College; Esslie Hughes, New York Bank executive and Director of the Public Company Accounting Oversight Board ( PCAOB).; Ted Pulton, principal with Faith Popcorn’s Brain Reserve; and the Rev. Robert Chase; founding director of Intersections. The discussion took place at Intersections New York office.

Davidson pointed out that, from a Jewish perspective and probably from others as well, the goal of all activity—including business—is a just society. Thus, when John Varley, chief executive officer of Barclays PLC, spoke at St. Martin–in–the–Fields off London’s Trafalgar Square in November and proclaimed that “profit is not satanic,” he was asking the wrong question. Instead, Davidson said he would not ask if profits are “satanic,” but whether or not they were “just” and contributing to a just society of core human values recognized by all religions.

Chase agreed, pointing out the need for common language that breaks through the silos that society creates for our lives. He pointed out that our value base doesn’t change depending on the role we may be living at the time. “The values of businesswoman are the same as those of the mother and the daughter,” he said.

Hughes was asked how this conversation might play inside a large business organization.  “It comes from the top,” she said. “The values are set by the top management and their own behavior.”

Ted Pulton, an expert social trend spotter, noted, “The public is outraged. They want more than a checklist of corporate responsibility goals. They want companies and products that are themselves good or socially responsible to use.”

What are the ways forward? “We shouldn’t shy away from politics,” said Davidson at the conclusion of the discussion. “Change requires shifts in policy, and policy is driven by those in political power.”

Others, however, argued that value shifts need first to take root in our society and our culture. As one audience member said, “We need new language and a new consensus about the purposes and values of our economic system.”

To contribute to this or future discussions on the intersection of power and values, visit www.powerandvalues.org.