Sorcery and Speculation: On Deceit and Dignity in the Economy

In combination with recent Catholic social teaching, this paper will explore the thought of the philosopher Emmanuel Levinas on the role of ethics in the economy to challenge forms of aggressive profiteering by illusion, deceit or exploitation. Levinas draws upon the Talmud and its teaching on sorcery and on profiting from falsehood as a starting point for his reflections on modern society, reckless market speculation and on the need for the members of society to grow in their mutual responsibility and respect for each other’s unique and incomparable dignity. Levinas’s ethic of generosity calls us to move away from the self-interested model of “greed is good” and to strive for ever-greater justice in our monetary society.