Spirituality, Creativity and Vision as Alternatives to Neo-Classical Economics in Accounting and Business Education

Northeast Decision Sciences Conference, Cambridge, Mass., March 20-22, 2015.

7 Pages Posted: 25 Mar 2015

See all articles by Dov Fischer

Dov Fischer

Brooklyn College, Murray Koppelman School of Business

Miriam Gerstein

Brooklyn College

Hershey H. Friedman

City University of New York - Department of Business Management

Date Written: March 23, 2015

Abstract

The “Chicago School” of economic thought, led by the intellectual descendants of Milton Friedman, has become the dominant paradigm not only of economics but of all social sciences, including business and accounting. According to the Chicago School, the manager’s sole concern should be the maximization of shareholder value. After the financial crisis, business professionals and educators have been looking for an alternative paradigm, and Spirituality presents such an alternative paradigm. A spiritual perspective recognizes the interconnectivity of all members of society and advocates for social solidarity. Just as importantly, a spiritual perspective promotes creativity in finding solutions that support both long term profits and social solidarity. Accountants must rethink their role from that information providers to that of creative counselors.

Keywords: Spirituality, maximizing shareholder value, creativity, accounting ethics, satisficing

JEL Classification: M41

Suggested Citation

Fischer, Dov and Gerstein, Miriam and Friedman, Hershey H., Spirituality, Creativity and Vision as Alternatives to Neo-Classical Economics in Accounting and Business Education (March 23, 2015). Northeast Decision Sciences Conference, Cambridge, Mass., March 20-22, 2015.. Available at SSRN: https://ssrn.com/abstract=2584228 or http://dx.doi.org/10.2139/ssrn.2584228

Dov Fischer (Contact Author)

Brooklyn College, Murray Koppelman School of Business ( email )

2900 Bedford Avenue
Brooklyn, NY NY - New York 11210
United States

Miriam Gerstein

Brooklyn College ( email )

New York, NY
United States

Hershey H. Friedman

City University of New York - Department of Business Management ( email )

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