Word: divesting
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...being asked for is a disengagement from, or expiation of, any complicity with the moral degradation of an African people--with their coercion, the deprivation of their basic human rights, and the denial of their dignity and worth as fellow human beings. To expiate itself Harvard must either divest, and as such withdraw from the problem, or it must remain with Gulf and take morally appropriate action. In a moment I will try to suggest what such moral action might...
Unfortunately, such a coincidence does not exist in the case of the central issue, namely, the decision not to divest. Those defending the University's decision have argued that continuing ownership of shares in Gulf Oil will not only make good sense economically, but is morally right in that Harvard is thereby in a better position to ensure improved conditions of work and pay for Angolans employed by Gulf...
...case within almost every firm in which Harvard has invested that there is complicity with something evil? General Motors pollutes and discriminates; public utilities do much the same; other firms produce war materials, or exploit other colonial societies; and so on. Moral consistency then, demands that if Harvard divests from Gulf it ought to divest from every other firm, which is, of course, an absurd idea, since Harvard would thereby destroy itself...
There are two further arguments to be made against the University's defence of its decision not to divest. The first is that even if the University's argument is morally acceptable, it is doubtful whether it would be advisable to try to improve the social and economic conditions of Gulf employees in Angola. My very strong reservations on this matter derive from my interpretation of the nature and functioning of colonial societies, based both on my academic researches and my experience as someone who grew up in a colonial society. In such societies, the most conservative elements among...
...That the Harvard Corporation, however, not divest itself of its Gulf stock. In their April 19th statement, the President and the Fellows reject divestiture as ineffective and socially irresponsible. We reject divestiture simply because we believe that most American corporations accrue profits that can be construed as "blood money". Therefore, if Harvard were to sell its stock in Gulf, it must similarly divest itself of stock in all other companies that, as the Harvard Corporation states, "do business in Portugal, Angola, South Africa, or other nations whose governments are widely criticized." Such a sale would affect most of Harvard...