Christian Theology and Market Economics

Citation

Beed, C. (2009), "Christian Theology and Market Economics", International Journal of Social Economics, Vol. 36 No. 12, pp. 1181-1183. https://doi.org/10.1108/03068290910996990

How Christian theology and economics might relate has become more debated since the 1970s. Partly, this is because economics is no longer seen as a value‐free “science,” even by its proponents. The growing interchange also reflects the admission that other disciplines, such as theology, sociology, and anthropology, share common ground with economics in the subjects they analyze. Divergent stances are taken nowadays in viewing how theology and economics relate, ranging from their incompatibility to their comfortable autonomy. Interpretation of this issue by the 12 contributors to the book stretches from beliefs that “there will always be an unavoidable clash between economics and Christian theology” (p. 6), to continuing efforts “to reconstruct economics on Christian foundations” (p. 71), to acceptance that each discipline has a separate, autonomous field of study (p. 83).

If theology is the derivation from scripture of principles and paradigms the triune God intends for application by humankind, more analysis was needed in relation to the specific topics covered in the book of what these principles might be. Thus, Chapter 10 on “The role of business in the fight against poverty” does not consider what these God‐given norms or intentions might be for the alleviation of poverty. With this hiatus, it is insufficient to claim that “the biblical message [about business] needs, therefore, to be dynamically reconceived in social and economic environments far removed from those of biblical times” (p. 177). We are not told what the biblical message is. This omission is separate from another that few Christian policy proposals are discussed in the chapter by which business might fight poverty. The approach in this chapter is typical of the book overall, that discussion of what is meant by “Christian theology,” or what its scriptural derivation might be are under‐played. On the other hand, the understanding of “economics” within the book becomes clear by repetition that it is the liberal, neo‐classical, free trade version of (market) economics that is the focus (and not, say, steady‐state market economics).

Similar comments apply to Chapter 9, on “Treating ‘affluenza’: the moral challenge of affluence.” This is a helpful outline of the development of affluence throughout history, and its contemporary effects. Also canvassed are whether affluenza will self‐correct, and whether external restraints on greed are necessary. The authors are sceptical that either mechanism will succeed. But it is only in the last two and a half pages (out of 17 plus) that Christian belief is mentioned. This is taken to be the only certain moral antidote to affluenza, and depends on individual conscience (p. 161). Yet, much more scope exists to examine how Christian beliefs transposed into business might alter its structure and purpose, and thereby affect how consumers might respond to its products.

A more theologically directed approach is apparent in Chapter 7, “Business as a moral enterprise.” Here, the argument is devoted to showing that “the Judeo‐Christian tradition [takes] a positive view of business as a moral enterprise” (p. 128). Backing this judgement with theological comment (such as by Pope John Paul II), the deduction is reasonable in the aggregate, and has long been accepted within the theology of work enterprise. The more interesting question, not dealt with in the book, is how far the activities and structures of business accord with Judeo‐Christian values, and how they might be modified or transformed to conform more with those values. In so far as there are companies that regard themselves as explicitly operating on Judeo‐Christian values, such as ServiceMaster in the USA, analysis of these companies could provide a stronger empirical basis on how to incorporate Judeo‐Christian values into business functioning.

Chapter 8 also takes a theologically directed approach, examining “Modern business and its moral and ethical dilemmas in a globalized world” from the point of view of Catholic social thought. It is hypothetical ethical dilemmas that are canvassed, rather than empirical data on how Christian‐based firms might try to deal with them. Therefore, the dilemmas remain at the hypothetical, theoretical level, but it is not known to what extent Christian firms face or resolve them. The four chapters above, 7‐10, represent the section of the book devoted to “more immediate and practical discussions of economic life with which Christians […] are invariably concerned” (p. 7). However, they all under‐represent the ways in which Christians have reacted in recent times to economic life, both as producers, consumers and stewards of God's creation. Barely any empirical data is presented to illustrate Christian responses.

The balance of the book is concerned with how Christianity has related to the development of economic thought throughout history, and with how that relationship exists today. Chapter 5, “Christian theology and economics: convergence and clashes,” canvasses some definitional aspects of theology and economics, and introduces the idea of possible tension between the two disciplines. The imperialist tendencies of economics to embrace more and more aspects of human behavior are documented, but not how theology might (or has) responded. If the two disciplines seek to construct explanations for like segments of human behavior from dissimilar starting points, it is likely that conflict will arise between them. Both disciplines are grounded in normative assumptions and modes of analysis. The assertion that economics employs positive statements is untenable. The claim that “rent control” will adversely affect “the supply (or quality) of the housing stock” (p. 81) is a positive statement, overlooks that the terms in question – “rent control,” “supply,” “quality,” and “housing stock” – can only be defined normatively.

Chapters 1‐4 document the relation between Christianity and the history of economic thought from the time of Aristotle to the present. For those interested in the present, these chapters making up nearly forty percent of the book are overdrawn. Aristotle's economics (Chapter 1) contains no Christian theological reference, although the pre‐Enlightenment and Scottish Enlightenment chapters are more concerned with how theological ideas influenced economics. Yet, no idea emerges of how an independent theology or Christian social ethics might have grappled with economic issues, if indeed this did occur. Eighteenth century Britain is the starting point of Chapter 4, “Christianity's post‐enlightenment contribution to economic thought.” Although political economy “emerged out of moral philosophy, then a deeply Christian enterprise” (p. 62), it was not long before mainstream economics lost its Christian influence. As part of the widespread critique of market economics from the 1970s, secular and religious, an economics based on explicitly Christian assumptions is on the rise, both Protestant evangelical and Catholic. Unfortunately, only two and a half pages are devoted to such recent developments. These limitations notwithstanding, the book provides a particular set of views about how Christian theology has and does relate to economics, and is a useful contribution to the debate.