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Advent reflections: spirituality and the economy – interview on Telex with two of our researchers

András Ócsai and Gábor Kovács from the Centre for Business Ethics discussed topics such as how a Christian or Buddhist company leader might differ from others, what sets apart a religious community that also engages in economic activity, and whether running a business on a values-driven basis actually pays off.
Budapesti Corvinus Egyetem

The conversation published yesterday on Telex, one of Hungary’s leading news sites, shows that it is possible to approach economic activity differently from what we usually see in a profit-centred environment. Models built on non-material values can offer an alternative to the dominant, profit-driven economic logic that often proves damaging. If a business sets out to realise the values it is genuinely committed to, rather than maximising profit, it can still do well financially. 

A key focus of their research is the study of values-based, in this case spiritually grounded, business models. Bhutan, for instance, is a good example of a country where Buddhism is not only a major religion but also shapes social life and economic policy. 

They also discuss economic models built on spiritual principles. When a company leader identifies as Christian, they bring certain Christian values into their business decisions, which is one way spiritual value orientation can appear in business models. 

They mention a range of Hungarian and international examples, from a Hungarian recruitment firm built on Christian values and the economic enterprises of the Pannonhalma Archabbey to the founder of Patagonia, who follows Zen principles, and agricultural businesses run by Hindu company leaders producing organic teas, herbs and food. 

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