Capital Remuneration:
Practices, Roots and Challenges
Interdisciplinary and Interreligious Symposium
Galatasaray Üniversitesi, Istanbul, Turkey - from March 27 to March
29, 2003
Problem Setting
The contemporary economic practice stands on the principle according to which capital exposed to risks or involved in any productive activity deserves a proper remuneration. The principle of capital remuneration is firmly embedded in legal, ethical and professional frameworks of globalised finance. It underpins saving, investment and insurance activities, and has also set the ground for many contemporary institutions such as pension and investment funds.
However, for many of the religious traditions (Christianity, Islam, Judaism at least) the legitimacy of capital remuneration is still a debatable issue. Some prohibit it overtly, others tolerate it but impose strict limitations and conditions while others do not discuss it openly. It is worth mentioning that many philosophical traditions have tackled the issue of capital remuneration. In the Marxist radical perspective capital remuneration is tantamount to exploitation.
Aims
to
provide a forum for financial experts and practitioners concerned with spiritual
values and professional ethics;
to
discuss current financial practices - particularly capital remuneration-
in the light of each of these religious traditions and their financial practices;
to
facilitate the integration of the spiritual heritage into new financial
practices through renewed application of the principles of these traditions.
Topics
Forms
of Capital Remuneration: enterprise financing, public financing, etc.
Religious
and Philosophical Traditions on Capital Remuneration.
Remuneration
of Labour and Capital: which comes first?
Risk,
Speculation, Fate and Insurance : pension funds and insurance practices.
Life
risks and complementarity of institutions in a welfare society.
