Why Do Mormons Make Such Great Businessmen?
May 15, 2012 in Daily Bulletin
It appears that Mitt Romney’s Mormon roots and business credentials are going to be scrutinized closely in the 2012 elections. What’s the link between Mormonism and business? Schumpeter highlighted:
- Less than 2% of the United States’ population is Mormon, yet Mormons have created some of the most notable companies in the country. They include Romney’s own Bain Capital as well as JetBlue, Credit Suisse’s Investment arm and Marriott hotels.
- Their success is likely in part due to their clean living. Mormons do not consume alcohol or drugs which means that their judgment is rarely ever clouded.
- A history of persecution has also made Mormons more self-reliant.
- As the only global religion to have been created in the past 200 years, it is more oriented towards, and comfortable with, business than other religions.
- Even their conceptualization of God involves order and organization.
- The Mormon church itself is well run with estimates of its revenue running into the billions.
To read more about the organization structure of the Mormon church, other notable Mormons, the mission that all Mormons must undertake, and why Mormonism is one of the three “Ms” at Harvard business school, click here.
Source: The Economist
As an ex-Mormon, the article hit on two of the reasons:
1. Mormonism really does idolize hard work. When I was growing up in the religion, hard work and perseverance were pushed at every step.
2. The religion’s “culture” matches some of the conservative business culture in America. The ideal Mormon family – home-maker wife and working dad – falls pretty close to the traditional upper-middle class ideal for families.
Both of those tend to mean that Mormons (at lease those that stay active and go to college, which is not most of them) tend to “fit well” into American business.