gkminc.com zithromax 1 dose flagyl before abortion when does pcos symtoms subsides on metformin treatmment walmart tamsulosin .4 thepointofcare.com side effect from lyrica celexa and propranolol levofloxacin oral solution in pakistan does masturbation affect the efficacy of finasteride thedirtfloor.com gravida pode tomar captopril sublingual can i take cialis with advil why do your stomach cramp when taking clomid die-liedertafel.de effect of ondansetron on placenta mylan bupropion sr 150 mg reviews is 25 mg zoloft safe during pregnancy millionaire-meena.com IMAJJI.COM saan sa quiapo makakabili ng cytotec order zestril esomeprazole pka adega.info verapamil 180 mg singulair 10 mg generic how to treat stiffness when taking bactrim misoprostol pill in karachi amaryl 4 mg tablet fiyat?± accutane 20 mg twice a day initiativemobileinsights.com side effect of metronidazole during pregnancy. is levaquin safe for greyhound dog entsprechen 100 mg 5 htp 20 mg fluoxetine price propecia india plan b and paxil feel crazy on 5 mg of lexapro epc-geophysics.com difference between montelukast and salbutamol 5x5.hu zoloft side effects elevated liver enzymes 500mg chinese antibiotic misoprostol cytotec for sale iaspm2013.espora.es ondansetron hcl 4mg tablet amankah untuk ibu hamil at what size will follicle ovulate on 50mg clomid buy generic isotretinoin flagyl 400 vaginal discharge meccanicanova.com gabapentin 1800 mg recreational meaning of atorvastatin ip louielouie.net grandlakehistory.org singulair dose for nine year old remeron cost canada como se toma cytotec 200 zyvox ain carpetandfloors.co.uk can you take fluconazole 150mg and paracetomel together leowelcome.com arroyograndecc.com avodart generic walmart dutasteride theitrecruiters.com topamax mood stabilizer creasite.fr how long does prednisone take to work on hives bajrangibhaijaanboxofficecollection.org what is ciproglen 500 tablets used for how much dies 100mg viagra pill cost at costco deremerstudios.com da sutra 30 x erection pills available in mumbai market can celexa get you high proactivelogic.com famciclovir 34 metoprolol cause hot flashes septra ds for kidney infection prednisone apo 5mg side effects dogs cyproheptadine 4mg syp for dogs side effects is fish metronidazole the same as animal metronidazole mobilestoreoperators.com wpodrozy.eu zoloft on an empty stomach ondansetron in renal failure purchase plavix online westregion.org can neurontin cause bleeding in dogs propecia 1mg costco zolmitriptan rizatriptan migraine mix 6 day burst prednisone arroyograndecc.com can you take prednisone on an empty stomach 9 month babies cough antibiotic and cough syrup wilbraham.com fungsi salep zovirax eu-atp.org camerata.com schwanderinsurance.com veofinancial.com inderal 20mg capsul wikpedia metronidazole and misopostol abortion tablets khasiat tetracycline hcl westwoodhomesinc.com withdrawal of topiramate aching arm virtualsem.com viagra vs cialis study on pulmonary hypertension csipropertyservices.com cungcapdientoancau.com other uses for premarin cream plavix and celebrex compatibility nyscaa.org propranolol 60 mg er for anxiety buy albuterol tab bociansafaris.com is cefpodoxime and azithromycin safe in pregnancy zoloft together with elivel user rating glimepiride tablet 1mg grandcanyonbrewery.com how much it cost to get azithromycin 4 500mg doubleglazingcompanies.com dosage of fluconazole for intestinal candida celebrex 600 symptoms of zyvox toxicity grandcanyonbrewery.com how much does prozac cost without insurance at walmart viagra generic online purchase coffee7.com costo del cytotec 200 mexico can u take flexseed and clomid baclofen for back pain how quickly does fluconazole leave the system cuanto vale metronidazole vagil gel usp dutasteride side effects memory loss viagra men spray vitamin e centergaz.pl can ciprofloxacin be used for ring worm amoxil 250 mg dose nbme 5 prazosin doxycycline dosage is doxycycline safe for strep throat ncsdsample2.docbro.com atarax fa ingrassare ambien bupropion 300mg price weingutkohl.de dapoxetine in abu dhabi singulair bebe 8 meses cialis 80 mg australia nearion.com grandcanyonbrewery.com mucinex d while taking prozac diflucan otc malaysia zovirax 800 mg prijs dctourguideonline.com inovaclub.com.mx amoxicillin trihydrate 457 chewable pil afssaps no dairy products while taking lamisil tablets dutasteride every other day ahmeterhan.com furosemide tablets 20mg for cats bemylight.org monikagawor.pl cost propecia usa amoxicillin roddexil dosage for 500 mg zyprexa onset of action for sleep para q sirven las pastillas anafranil de 75mg montelukast sodium 10 mg tablet cause dark urine alendronate sodium 70 mg oral tablet lamisil at antifungal cream misoprostol pills at walgreens tadalafil 5 mg available brand in kerala baservizi.com tbr.pl what is the work of septrin or flagyl bigdaddyssigns.com famvir vs acyclovir for cold sores how many beads in a 30 mg cymbalta capsule online generic viagra diclofenac diethylamine sivuvaikutukset marketingibiznes.pl bjceke.com redzigaismu.lv price levitra usa when is diovan 320 mg going generic chlamydia azithromycin make you fertile drug prednisone 50 mg tab puppy albuterol craigslist buy generic viagra uk lexapro men reviews advantagegolfcars.com walterbruck.de timminsfamilycounselling.com long term lexapro success septran tablet use in pakistan maxaimum dosage of gabapentin in canada buy hydroxyzine pamoate how much does buspar cost without insurance theorientalhotels.com buy zovirax medication 2666 amoxicillin adderall vs metformin timminsfamilycounselling.com metronidazole cats dosage kamagra oral gel in joburg agrofph.com propecia online bestellen ohne rezept cuantas cytotec tengo q beber para abortar de 2 meses chinatripadvisor.com alendronate 150 mg diovan 80 mg novartis side effects habitat.tj treatment of stammering with propranolol 1001.org viagra canadian amiodarone tablet nedir planificationprojets.com nolvadex post cycle dosage will 7000 mg of amitriptyline kill you how much amoxicillin shoukd i give a 9 year old para que es la pastilla lisinopril dapoxetine mg can i drink wine with riva azithromycin antibiotics can i split 150 mg of diflucan clopidogrel 75mg tablets side effects prednisone for dog rash where can i buy cytotec in malaysia online cialis order viagra how can i take 75 mg zoloft wordsalamode.com benazepril and hair thinning how much 500 mg amoxicillin to give a ten year old fifem.com thumbuy.com metformin 250mg bid tamoxifen soft gelatin capsules groganstudios.com 5 mgs of buspirone snort orlistat and omega3 buy aventis furosemide tablets no prescription difference between teva citalopram and mar citalopram lisinopril 30 mg side effects cuanto tiempo despues de usar cytotec puedo comer alexcitypr.com lexapro 10 mg common side effects norvasc 10 mg side effects propranolol modified release capsules 80mg alcohol metformin pregnancy nizoral in ksa cardura 2 mg prezzo im an athlete should i take finasteride can gabapentin kill you baguskah isotretinoin australia cyproheptadine syrup price seroquel 50mg street value atarax 2mg ml sirop where can i buy proscar uk 40mg cialis safe purchase flagyl for dogs baclofen vs klonopin tablet nifedipine obat antidepressants to combine with mirtazapine hyzaar 50 12.5 mg cena taking 25 mg zoloft and pregnacy weingutkohl.de effectiveness of glucophage xr metformin hcl for pcos levocetirizinemontelukast benefits gkris.com debtspecialistcentre.com photoloco.com cheap foreign generic viagra donde conseguir pastillas cytotec en argentina how much is gas station viagra mobic cost walmart lexapro withdrawal after 6 months order zithromax over the counter multi-monety.pl 0.5 propecia less sides hydrochlorothiazide lawsuit zyvox suspension price dws-xip.pl generic plavix usa purchase sertraline no prescription diltiazem mylan portugues cytotec 12 weeks pregnant metoprolol tartrate alternatives gratisdiscotecas.com modifikasi happy nexium 150r naprosyn plus price in bangladesh overnight delivery of viagra celecoxib capsules uk maximizing effects of cialis can you treat chlamydia with septra flomax 39 minutes after meal viagra tablets in sri lanka bollywoodinformer.com webworksandgraphics.com generic metformin no prescription uses of metronidazole in leishmania what does viagra cost in canada alberta side effects of galcipro tn grandlakehistory.org berenboom.com is cialis 800 good for young man can lexapro increase copd mercadodefichajesfutbol.com arroyograndecc.com flagyl and solpadeine augmentin 625 dosage nz do we have acyclovir cream amoxicillin and spironolactone doxycycline hyclate dosage 400mg cyproheptadine appetite stimulant cats shop order quetiapine online plavix price on usa diflucan 3 day treatment soleaturk.com berapa harga azithromycin dihydrate celebrex 100 milligrams are neurontin gd for restless feet. cheap price viagra do wal mart sell flagyl 500mg metronidazole injection i.p. austel fluconazole capsule dws-xip.pl viagra 50mg tablets erythromycin 333 amaryl 5mg vibramycin 100mg for sinus infection lisinopril 5mg can you crush erectile disfunction boston generic vigraa zynaps.com amoxicilling 875 and menstrual cycle cymbalta ppt deurisis dengan lasix parches de voltaren cuanto valen short term prednisone lupus flare augmentin 400mg 57mg 5ml zum.no doumsystems.com albuterol tylenol hallucinations when to take metformin 500 sr buy generic viagra uk vpdcorp.com wordsalamode.com dirty feeling elavil seroquel xr cost walmart autogiant.com lexapro 5 mg alcohol cheap premarin yogaindailylife.org can u dimetapp while taking prednisone or methotrexate formulation of metronidazole benzoate gel champion-container.com nyscaa.org louielouie.net mobilfodral.net valacyclovir hcl prescribed for acne upperbe.it can benadryl and gabapentin be taken together metoprolol succ er 50mg and zantac propranolol and asthma pill identifier strattera high carlosfloresmusic.com otc ketoconazole desonide generic bupropion xl watson acyclovir 400 walmart huntofalifetime.org inovaclub.com.mx unitedhealthcare.com cialis coverage launchpoker.com albuterol in breathing treatment dose for a 4 month old khasiat levofloxacin hemihydrate addictedtoallthingspretty.com can clomid make me to ovulate with high prolactin cost depo provera without insurance zofran 8 mg every 6 hours buy cymbalta in india harga furosemide inj can you fake tan while using metronidazole 250mg how many lexapro to get high chinyee.cc augmentin injection price india buy propecia finasteride australia ub.edu.pl metronidazole vaginal gel order online debattartikel.se mix fluoxetine 40 mg with vyvanse 60 mg side effects can azithromycin cute folliculitid how many days should i take bactrim tipos de cytotec imagenes champion-container.com km-kh.com onlywebs.us normal nose side effects of lisinopril 10 mg toughfurniture.com farmasi menjual cytotec di malaysia cost viagra pills accutane for oily skin and mild acne can i take acyclovir and flucloxacillin together nhs poison ivy for a week and prednisone not working can you take amitriptyline with bactrim ds hrg seroquel what are thresholds for pfizer zyvox adega.info can lasix 20 mg tablets be split cipro ear drops causing chest pain clomipramine 10 mg side effects use of aspirin and metformin in infertility trazodone 225mg directions for using ketoconazole dusting powder chizeaphockey.com synthroid 75 mg bula zyprexa and saphris combination zyvox tablet crush nizoral sampon indicatii zmax antibiotic price in bangladesh bull 100 sildenafil citrate menafilmfest.com flagl baytril antibiotic for dogs side effects maxpro10 esomeprazole come si prepara augmentin bambini axellerata.com toothache prescription medications 400g gonorrea augmentin zitromax lioresal alternative generic cialis review newworldfoods.ca how long does detox last with yeast after take diflucan can you drink cranberry juice with cipro and flagyl waterfrontalehouse.com louielouie.net pediatric doxycycline dose hordeolum does norvasc reduce night sweats generic estradiol vs estrace waterfrontalehouse.com cytotec in quiapo for 4th month leowelcome.com robertjszmidt.pl swallowed ondansetron can u take amoxicillin for bladder infection venta misoprostol mercadolibre chile levitra 10 milligrammi is augmentin drops good for baby gabapentin serotonin syndrome cyproheptadine 4mg appetite stimulant otelbella.com gothamistllc.com how long does a 300 mg of gabapentin last rizatriptan benzoate and percocet sildenafil citrate cream gestodene 75 mcg ethinyl estradiol 30 mcg adamstudio.pl virtualsem.com sichtwandel.ch nolvadex digestive problema zinc and erectile dysfunction with methadone ncsdsample2.docbro.com how many days do you take fluconazole 100 mg viagra generic philippines fluconazole italia furosemide 40 mgcost iv is doxycycline different class than bactrim ds how to use viagra gel finasteride 1.25mg levofloxacino para diverticulitis iphone5sreview.nl norfloxacin metronidazole use in animals topiramate ukpar erythromycin online pharmacy backboneitgroup.com can you drink alcohol synthroid 200 mg buy terbinafine online no prescription lisinopril warnings obat luften clozapine doxycycline dosage for tick fever valtrex 500 mg film tablet tamoxifen stability in oil fluconazole uk plavix generic mexico zyprexa elimination route mayo clinic metformin side effects can you take metoprolol 3 times a day cipro xr 100 mg new generic lexapro reviews correct dosage of doxycycline for felines doxycycline pleurodesis does seroquel cause low sperm count atarax 25 pour chien cual es la alergia terbinafine hcl 250 mg can strattera give u a cogh prednisone causes weight gain after 3 days taking misoprostol not pregnant withdrawal mirtazapine diarrhea uasa.co.za rebound effect celebrex tamsulosin mnemonic diclofenac misoprostol 50 mg amoxicillin 500 mg for tooth infection proactivelogic.com sta je ketogenic diet tadalafil 10mg costa lisinapril versus lisinopril with hctz can i take amoxicillin after my menstruation

How to be a Moral Investor

Faith-based or morally responsible investing is exploding, as more than 60 million Catholics and millions of other religious U.S. citizens attempt to align their morals and values with their investment decisions.
by Samuel Gregg | Source: SpireStocks.com
While religious concerns have long been a factor in investing, the upsurge in interest is largely fueled by investors reassessing their priorities after the high-flying 1990’s, and more recently, by a general disillusionment with the unethical practices of many popular mutual funds. Financial advisors report that today, people are looking for more meaning in their lives, and hope to make a positive difference in the world as a result of their investment activities.

The interest in faith-based investing has captured the attention of money managers, and resulted in many more avenues for investment as well as new, more sophisticated research techniques. As a result, more U.S. citizens, than ever, have the awareness and the opportunity to put their money behind their beliefs.
Over the past 20 years, the language of business life has become replete with ethical phraseology. Words such as "social responsibility," "business ethics," and "triple bottom line" bounce around in MBA classes, in corporate boardrooms, and even on stock trading floors.

In many respects, this attention to the morality of investment choices should be welcomed. The Catholic Church has always taught that our free choices for the good contribute to our fulfillment as persons and even to our salvation. Conversely, when we choose things that are not so good, we foster our moral disintegration, possibly leading to our eternal separation from God. Pope John Paul II himself reminds us in his 1991 encyclical on social teaching, Centesimus Annus, that the choice to invest in one area rather than another is always "a moral and cultural choice."

But the difficulty for Catholics-indeed, for anyone seriously concerned with the moral life-is that for all the emphasis on social responsibility sweeping the financial world, most ethical investment strategies reflect the general moral incoherence associated with what Princeton University professor Robert P. George poignantly describes as "orthodox secularism." This makes it all the more urgent for Catholic scholars to apply the Church's moral teaching to the question of investment in our free economy, instead of producing pale imitations of the utilitarian approaches advocated by most self-described business ethicists.

There is a centuries-old principle of Catholic moral teaching which can help us resolve moral dilemmas encountered in contemporary commercial life. What should worry anyone who wants to be good and avoid evil in his or her investment decisions are the philosophically problematic premises that underlie many ethical investment schemes. The first concerns their acquiescence in and promotion of a relativistic approach to morality.

A Truly Catholic Investment Ethic

The moral principles that should inform and direct our investment choices are no different from those that should inform and direct our other choices. Apart from helping us to participate in basic moral goods, our investments should be directed by maxims such as the Pauline principle (one should not do evil even if good may come of it!) and the Golden Rule (do to others as you would have them do to you).

Catholics should also know that the Church has declared that certain acts are always wrong. Intentions may be noble, people may claim to be acting in good conscience, and circumstances may mitigate personal responsibility; nonetheless, certain acts (e.g., adultery) are always evil. The negative moral precepts of the Church's teaching, as Veritatis Splendor-John Paul II's 1993 encyclical on the Church's moral teaching-reminds us, do not allow for legitimate exception.

Therefore, an appropriate starting point for developing an authentically Catholic investment ethic may be to focus on how to avoid evil when making investment choices. This reflects the fact that, as Socially Responsible Investing sagely notes, "given the realities of mergers, buyouts and conglomeration...it is increasingly likely that most investments will be in companies whose policies or products make the holding of their stock a 'mixed investment.'" Most corporations are likely to be associated in some way-however remote-with activities or policies that conflict with right reason.

The issue, however, is not whether we should attempt to "weigh" the harm of investing in one company against the harm of investing in another-for example, in a corporation that financially contributes to abortion providers, as opposed to one that provides spousal benefits to employees living in active homosexual partnerships. This is the irrational approach typically advocated by consequentialists and other utilitarians.

Rather, accepting the reality of mixed investments forces us to ask whether our investment will amount to a formal or a material cooperation in evil. We should reflect on this distinction before considering whether our investment in, or withdrawal from, a business will foster positive changes in a corporation's policies or activities.

Formal cooperation in another's evil act is always wrong. This occurs when the person cooperating intends to help the other do what is wrong.

Anyone who directs, encourages, approves, commands, or actively defends another's immoral act formally cooperates in that immoral act. Material cooperation, by contrast, means making it possible for another person to commit an evil act without intending the evil ourselves. In other words, we do not intend but merely foresee the connection between what we do and the wrongful act. We bear some responsibility for the other person's evil deeds and we must consider whether we are justified in accepting the evil side effects.

Though this formal/material distinction may sound complicated, it does help us to assess the correct moral choice when faced with different investments. Formal cooperation would occur, for instance, if a shareholder intended his investment to facilitate the prosperity of a company that uses slave labor in order to cut costs. Such cooperation is immoral, even though the shareholder may not personally force anyone to work for him without pay.

Material cooperation, on the other hand, may sometimes be acceptable, although only in limited circumstances. If it involves very close cooperation, it can be objectionable. An example would be a shareholder whose regular failure to vote at shareholder meetings allows the directors of the company to uphold a policy of donating money to abortion clinics. This would convey the strong impression that the shareholder agrees with, or does not strongly disagree with, the evil being done, and thus give rise to scandal.

Other kinds of material cooperation might be less culpable. One example might be placing money into a mutual fund that, in turn, invests a small amount of its resources in a corporation with a subsidiary that manufactures, among other things, contraceptive devices. The evil of such cooperation might be so remote that it could be seen as unproblematic. But we might also rule out such an investment by deciding that our refusal to invest in the fund would be an effective witness against the subsidiary's activity.

Making the Right Decision

So how do we establish whether cooperation in such cases is morally justified? In simple terms, we need to compare the reasons for cooperating to those for not cooperating.

Refusal to cooperate might, for example, perversely result in weakening internal opposition to the efforts of those who want to donate corporate funds to a range of immoral causes. On the other hand, materially cooperating-even remotely-in a company's immoral policies might contribute to our own moral disintegration. It might make us less sensitive to the wrongs of such policies. We might even become inclined to cooperate with evil acts more closely, perhaps even formally, in the future. Our cooperation might also tempt others who might perceive that the wrong is not so very evil in our eyes. The greater the risk of corrupting ourselves, or of giving others the impression that we have no strong objection to an evil policy or activity, the more serious the reason for not investing in organizations, that engage in such activities. Sometimes it is possible for investors to avoid cooperation relatively easily by directing their money to companies involved in less problematic projects. If the same good can be done by investing in Company A, which does not involve any cooperation in evil, or by investing in Company B, which does, then a compelling reason exists to invest in Company A.

Clearly, reflecting on the intricacies of formal versus material cooperation in evil is important when considering investment choices. But two other points must also be considered. First, as Grisez observes, "[a]n individual's responsibility is limited by his or her ability to know about alternative possibilities and to choose reasonably among them." This insight is especially pertinent to the investment world, since it is impossible to know everything about every potential investment available in the world's free and rapidly globalizing economies.

But the reality of limitations on our knowledge should not blind us to the second additional point: Moral responsibility for what we invest in ultimately flows from what we formally choose and accept. When our investment helps others to do wrong, we are morally responsible. Hence, when it comes to investments, Catholics should remember that the maxim "Let the buyer beware" involves more than just protecting ourselves against fraud. It also concerns the moral health of our souls.

Samuel Gregg is a moral philosopher and the director of the Center for Economic Personalism at the Acton Institute for the Study of Religion and Liberty.

Click Here to Donate Now!

Join the new media evangelization. Your tax-deductible gift allows Catholic.net to build a culture of life in our nation and throughout the world. Please help us promote the Church's new evangelization by donating to Catholic.net right now. God bless you for your generosity.




Post a Comment
Published by: andrea copley
Date: 2011-01-23 15:30:11
On Catholic Radio I heard BP Oil uses human fetus' in research and development. Haven't found a second source to vallidate this point. Can you help? Thanks. andrea

Write a comment on this article

Email required (will not be published)
required Country

Most Popular