Theology and Economics

Is de economie een proces van autonome wetten die zich gedragen als natuurwetten? Of speelt de human factor mee, in de vorm van keuzes, ethische afwegingen, en culturele en religieuze achtergronden?

Lange tijd is aangenomen dat in de marktwerking ‘de onzichtbare hand van God’ aan het werk is en dat zelfsturing van de economie als vanzelf een goede maatschappij oplevert. Dit roept het beeld op van de economie als een zelfstandig voortbewegende kolos met eigen onveranderlijke wetten. Met deze metafoor is het gemakkelijk om de roep om een rechtvaardiger verdeling en andere ethische eisen vanuit de theologie af te doen als naïef en onrealistisch. En dat terwijl heilige teksten veelvuldig en scherpzinnig spreken over zaken als handel, geldhuishouding, de waarde van arbeid en een eerlijke verdeling van bezit.

Economen beginnen de menselijke dimensies van vrijheid, geweten, begeerte, vertrouwen en verlangen naar geluk meer en meer van invloed te zien op de economie. Kritische geesten menen dat elke economie impliciet een mensbeeld, een maatschappijvisie en zelfs een opvatting over de hoogste waarde herbergt. Hoe kan economie ontmaskerd kan worden in haar dimensie van verborgen levensbeschouwingen?

Ruim twintig auteurs – economen, theologen, een rabbijn, filosofen, sociologen, politici en juristen, allen verbonden aan de Universiteit van Tilburg – houden zich in deze bundel bezig met de verhouding tussen economie en levensbeschouwing. Ze proberen een uitweg te vinden uit twee elkaar bestrijdende extremen: een goddelijke sanctionering van de economie en een al even radicale veroordeling ervan.
De mammon is nu eenmaal een duivelse macht, maar niettemin kun je er vriendschap mee sluiten.

Met bijdragen van:
Lans Bovenberg – Johan Graafland – Philip Eijlander – Theo Salemink – Theo van de Klundert – Harrie Verbon – Sylvester Eijffinger – Annemarie Hinten – Vefie Poels – Kees de Groot – Frank Bosman – Bas de Gaay Fortman – Theo de Wit – René Munnik – Elisa Klapheck – Abraham de Wolf – Piet van Midden – Bart Koet – Omar Salah – Bram Grandia – Staf Hellemans – Theo Wagenaar – Alette Warringa – Paul van Geest – Marcel Poorthuis

The purpose of this article is to study the specific contributions of Minjung Theology within the wide field of liberation theologies, especially in dialogue with Latin American Liberation Theology. For this purpose, we will analyze: (a) the current relevance of the concept of minjung; (b) the relationship between the narratives and testimonies of the sufferers' communities and the social analysis in the methodology of Minjung Theology; (c) the phenomenology of suffering in neo-liberal globalization and social aphasia.

Theologians frequently deploy the doctrine of the Trinity in a theology of economics using one of two flawed methodologies. An exemplary approach treats the Trinity as an ideal pattern for social relations, but fails to account for the extent of disanalogy in such comparisons, risking projection. A genealogical approach surveys the history of trinitarian thought, seeking historical shifts in thinking that may lay behind certain modern political and economic theories, but it often struggles to sufficiently establish the genealogy. Neither approach offers much in terms of practical suggestions for economic practices, institutions, or models. This article surveys each approach in prominent representatives, including Leonardo Boff, M. Douglas Meeks, John Milbank, and Giorgio Agamben, illustrating the flaws with these two methods. It concludes by proposing a turn to correlation between the economic works of the Trinity and human works in the economy as a superior means of deploying the doctrine of the Trinity in a theology of economics.

Theologians increasingly write about economic matters, but it is not easy to correlate their works with pertinent discussions in economic theory. This essay suggests three trajectories of potential fruitful dialogue between the disciplines. An orthodoxy trajectory concerned with right knowledge, and orthopraxis trajectory concerned with right action, and an orthopathy trajectory concerned with right experience or right subjectivity all allow for fruitful conversations to emerge. I illustrate with concrete examples from each discipline, and use the heuristic to explain specific, recent conversations between theologians and economists that did not meet their full potential.

Published in "Faith and Economics," the journal of the Association of Christian Economists. Full online issues here: https://www.gordon.edu/ace/ACEFandE.html

This essay delves into the intricate topic of economic democracy in the ancient and contemporary world. To begin with, it delineates an in- creasingly widening gap between the rich and the poor in contemporary neoliberal South Korean society under the total control of competitive rationality. In addition, it observes that where a society is, to a certain extent, devastated by economic polarization and inequality, democracy is found to be in serious doubt. Then, it probes into Paul’s political theology embedded in 2 Cor 8:13-15 in its Jewish and Greco-Roman contexts with the aim of recovering economic democracy in the biblical sense. I suggest that Paul can assist us in reconfiguring the spirit of eco- nomic democracy in such a way that brings to the fore the significance of equity(ἰσότης) based on the act of reciprocal sharing across borders. When viewed from the perspective of political theology, Paul’s new vi- sion of the divine economy can help guide us to transform a neoliberal society run by the logic of competition into an equitable society which orients itself to mutual sharing at the multidimensional level in the name of solidarity. The underlying assumption is that Paul draws due attention to differential capital, which ranges from material capital via
cultural capital to religious capital in Pierre Bourdieu’s terms. It is, therefore, my expectation that Korean Christians today will gain insight into civic participation in democracy by following in Paul’s footsteps for a more equitable and just society.

This is the draft accepted for publication, Please quote from the published version

I intend to dismantle a piece of historiographic mythology created by self-styled ‘Revisionists’ (Hill, Alvey, Oslington, etc.). According to the myth, Adam Smith endorsed several of the traditional proofs of God’s existence; he believed that the order existing in the world is a morally good order implemented by Divine Providence; he believed that evil in the world is part of an all-encompassing Divine Plan; and that the ‘invisible hand’ is the hand of the Christian God who leads the rich to employ their wealth for the greater benefit of the greatest number.

I argue instead that there is a remarkable analogy between Smith’s and Kant’s theory of religion. Smith’s philosophy is a third way between Rationalism and Phyrronism, arguing that doctrines confirmed by reason in every field, from natural science to theology, are nothing more than combinations of ideas agreeable to the imagination; if we try, on the basis of both Smithian texts and their context and co-text, to reconstruct his lectures on natural theology, all kind of evidence converge in indicating that he reduced proofs of God´s existence to ‘inventions of the imagination’ and argued that philosophical theism is not different in status from primitive belief in invisible beings, or that it is as unwarranted as any system is, and besides that it generates a moral conundrum; he argued also that teleological explanations are no more and no less imaginary than those based on efficient causes, that the teleological order we may imagine in the world is not too bad from a ‘consequentialist’ point of view, and yet it is far below any moral standard; I argued that this is by no means a proof of Smith’s ‘irreligion’ and also that no convincing proof of any turn from religion to irreligion on his part has been provided so far, and finally that the two viable options he left open were either dismal unbelief or Theism on a moral basis.

I defend this third way by proving that what Smith’s lost lectures on natural religion said can be reconstructed with some plausibility and what they did not say with absolute certainty; I argue that he developed a sharp criticism of natural theology, that he argued that at the root of religion there are a number of principles of the mind that make religious belief a ‘natural belief’; I do so by reconstructing, first, the context of the missing lectures (sect. 2); then the contents of their first part, considering the proofs of God’s existence and his attributes (sects 3-4); the ‘principles of the mind’ lying at the root of polytheism (sect. 5), of philosophical monotheism (par. 6), and of pure and rational religion (par.7); I contend, then, that his vindication of toleration is consistent with ‘pure and rational religion’ (par. 8) and that attempts to prove a phantom conversion to ‘natural religion’ or ‘irreligion’ result from misreading (par.9).

My conclusions are the following:
i) Adam Smith claimed that any natural theology is impossible;
ii) There is, in fact, some kind of order in the world, and it proves useful to a point in allowing for humankind’s survival, but it doesn’t meet any minimal moral criterion;
iii) the world is not teleologically ordered; we may indeed, for mental economy's sake,  imagine such order, but the world abounds in misery and depravity;
iv) consequences of human wickedness and insanity do, happily enough, deviate from intended outcomes; we may feign invisible mechanisms at work behind, but to mistake them for a hidden mechanism is as childish as the primitive’s belief in ‘invisible beings’.
v) there are indeed themes from theological doctrines in Smithian economic theory, but they are not derived from the kind of rational theology ‘discovered’ by the ‘New View’; they are instead Augustinian and Jansenist themes.
vi) Smith’s theological doctrines did – as suggested by Waterman – have a bearing on his economic theory not by ‘doctrinal dependence’ but – as suggested by Harrison – in the more modest role of a source of blueprints for economic explanations.

The recent financial crisis has exposed the fact that contemporary economic life is structured not simply as a market, as an exchange of goods, nor simply as productive capitalism, as investment and profit, but by a network of credit relations.  These can be conceived in purely economic terms as a transfer of resources between people and over time.  Yet undertaking debt can also be conceived in philosophical terms as a way of exercising justice and prudence.  When debts are imprudent and unpayable, they may require forgiveness – and may even require a theological understanding.  This paper seeks to open the question of how economic life and practice might be changed by keeping philosophical and theological aspects of debt in mind.

Over 16 million people in the UK have less than £100 in savings. Personal debt is now at 90% of GDP. Debt is clearly a serious economic issue – but it is also a profoundly moral one. How should we distribute the risks and responsibilities inherent in debt? How should we treat people with severe debt problems? Should there be limits on borrowing and rates of interest?

This report draws on the wealth of Christian thought on the subject to highlight the moral and relational dimensions of debt and suggest practical ways to address some of its problematic aspects at the personal, corporate, and public levels in the UK today.

This essay considers Paul’s first-century “fundraising missive” in 2 Corinthians 8–9, focusing on 2 Corinthians 8:8–15. In it, Paul poses three hermeneutical puzzles around grace, equity, and participation that together establish the theological framework of his appeal and reveal the inner dynamics of the economy of God’s kingdom. The Holy Spirit invites us into participation in the grace of our Lord Jesus Christ, which liberates us to be vulnerable enough to enter into the collective engagement that is inseparable from the common good. Within that community, the superabundance of God’s grace enables us to “finish doing” what we have started (2 Cor. 8:11)—what has been started in us—by living fully into the transformative economy of God, who promises to make all things new.

This paper written for an undergraduate theology seminar explains the traditional Catholic understanding of economics from a moral and philosophical standpoint. This paper critiques both Marxism as well as Capitalism and attempts to find a superior economic system.

Theological engagements with economic theory often focus on policy issues, structural injustice, wealth distribution, or evaluating the best economic system. Less work has been done in exploring the impact of economic models themselves, though this is precisely the locus at which Christian theology has interesting contributions to make. This paper explores the function of economic models and proposes that the image of God is the appropriate theological correlate in function. With this correlation in hand, I apply a relational ontology to argue that particular economic models develop particular capacities within individuals.

A review article focusing on recent trends in the defense of capitalism, specifically in Kenneth Barnes' "Redeeming Capitalism,"  Brent Waters' "Just Capitalism," and Samuel Gregg's "Just Capitalism."

Original published version available at:  https://www.marketsandmorality.com/index.php/mandm/article/view/1441

Resumo Dentro do espírito da comemoração dos 500 anos da Reforma protestante, este ar-tigo dialoga com o pensamento de Lutero, em particular com a sua crítica teológica ao sistema econômico capitalista emergente, com o seu comércio abusivo e a usura, para pensar uma alternativa para o atual processo de globalização capitalista de corte neoliberal. A partir da análise do papel da teologia frente à economia moderna, o texto estuda: a) a crítica de Lutero à inversão ética que transforma a usura em um serviço à comunidade; b) a crítica da idolatria do dinheiro e a inevitabilidade do mal do mercado abusivo e do sistema usurário; c) o uso que Lutero faz da noção de pecado original na sua crítica e na proposição da missão da igreja dentro de uma " dialética do possível ". Palavras-chave: Lutero; idolatria do dinheiro; pecado original; usura; teologia e economia. Luther, critique of idolatry of money, and dialectic of the possible Abstract In the spirit of celebration of the 500th anniversary of the Protestant Reformation, this paper dialogues with Luther's thought, in particular with his theological critique of the emerging capitalist economic system, with its abusive trade and usury, to consider an alternative to the current neoliberal capitalist globalization process. Starting with the analysis of the role of theology in face of the modern economy, the text studies: a) the Luther's criticism of ethics inversion that turns usury in a service to community; b) the critique of idolatry of money and the inevitability of evil of abusive market and usurious system; c) the Luther's use of the notion of original sin in his criticism and proposing the mission of the church within a " dialectic of the possible " .

There is a remarkable social group within the so called “new middle class” in Brazil whose interests seek to perpetuate the traditional family and are against homosexual relationships and gay marriage. They are the evangelicals of the prosperity theology. The author of this paper shows that moral militant conservatism, on the one hand, and the adherence to modern and postmodern values of capitalist consumerism culture through prosperity theology, on the other, are not contradictory or necessary out of rhythm in the modernization process of this group. In fact, both of them are the two sides of a single process of the particular affirmation of human dignity of this group.

On the choir director’s stand, in the church of economists and policymakers, like a singly worn page of “Amazing Grace” in an otherwise untouched hymnal, is the anthem of economic growth. This song once had great life, but the tempo of GDP growth has slowed. Due in part to the slowing tempo, economic growth alone is insufficient for solving the myriad of ills present in contemporary society. Fortunately, the anthem of economic growth is just one page in the hymnal yet to be fully explored. Other pages from the hymnal can find their roots in a wider set of higher-order principles for the economy that could be derived from the Bible. These higher-order principles would likely concern work, rest, debt, stewardship, poverty, integrity, and our relationship to others and would support human flourishing if utilized. Consequently, this paper argues for the development and use of biblically-derived higher-order principles as guides for both defining economic goals and exploring ways to achieve them.

Ad oltre sessant’anni di distanza dai Trattati di Roma, istitutivi del progetto comunitario-europeo, l’Ue presenta ancora oggi i caratteri di un soggetto politico e giuridico in fieri. L’auspicata progressiva integrazione tra gli Stati europei, che avrebbe dovuto seguire il coordinamento dei settori economici dei diversi paesi membri dell’Unione, non solo non è stata ancora raggiunta, ma pare persino allontanarsi alla luce della crisi economico-finanziaria che da oltre dieci anni ha colpito l’Unione europea tutta – in particolar modo l’eurozona – mettendone a nudo gli squilibri interni e svelando le aporie del relativo modello “impolitico” di integrazione.

Στόχο της μελέτης αυτής αποτελεί η σύνθεση, ορθολογική ανασύσταση και αποτίμηση της οικονομικής σκέψης του Ιωάννου Χρισοστόμου σε ζητήματα αναδιανομής του εισοδήματος και του πλούτου, και κοινωνικής ανισότητας. Θα αναπτυχθούν συνεπώς κεντρικά θέματα που συνθέτουν αυτή την πατερική οπτική όπως η κριτική της επιδεικτικής κατανάλωσης, η υπόδειξη συνθηκών ορθής χρήσης του πλούτου, η καταδίκη του αποθησαυρισμού καθώς και η κριτική της συσσώρευσης υπέρμετρου πλούτου. Ιδιαίτερη σημασία θα αποδοθεί στην οικονομική ψυχολογία και τις ανθρωπολογικές διαστάσεις της κτητικής συμπεριφοράς, ενώ θα συνυπολογισθεί η οικονομική σημασία του θεσμικού πλαισίου: μικροοικονομικές διαστάσεις του οίκου, επιχειρήματα υπέρ και βαθμός ρεαλισμού εναλλακτικών οργανωτικών προτύπων- ατομική ιδιοκτησία (δικαιολόγηση, συνέπειες, κριτική), σχέση ιδιοκτησίας και κοινοκτημοσύνης, ακτημοσύνη.
    Θα συζητηθούν επίσης  οι γενικές κανονιστικές προκείμενες της διανομής, θα αναζητηθούν οι  καταβολές και τα αίτια των διανεμητικών ανισοτήτων και θα διερευνηθεί η πατερική οπτική υπερ της ανάγκης αναδιανομής του πλούτου μέσω της κοινωνικής  αναγκαιότητας της ελεημοσύνης τόσο ως γενικευμένης αναδιανεμητικής πρακτικής όσο και ως μέσου άμβλυνσης κοινωνικών αντιθέσεων και διαχωρισμών. Η φιλανθρωπία ως περιεκτική και συνεκτική κοινωνική πρακτική και ως μηχανισμός σύστασης κοινωνικών δικτύων προς όφελος ευάλωτων κοινωνικών ομάδων συμπληρώνει, στην πατερική θεώρηση, τις εγγενείς αντιφάσεις μιας αυτοκρατορικής οικονομικής πολιτικής που δεν συνυπολογίζει το αίτημα της διανεμητικής δικαιοσύνης, ούτε θέτει ζητήματα κοινωνικής δικαιοσύνης έστω και ως μέσου νομιμοποίησης και δικαίωσης της  εκάστοτε κοσμικής εξουσίας.

Purpose – The purpose of this paper is to offer a theoretical framework for the analysis of the eventual implications of Greek Orthodoxy for business and entrepreneurial activities in general.
    Design/methodology/approach – The paper examines the basic concepts, tenets and principles – in particular, those being of interest to business and entrepreneurship – of a specific religious worldview, Greek Orthodoxy. It then applies these religious norms to value-based entrepreneurial pursuits and assesses their potential impact on entrepreneurial motivation and action. Particular emphasis is given to the societal relevance of this comprehensive worldview.
    In this respect, it is argued that Greek Orthodoxy’s binding principles should also be examined in their relationship with ethno-religious communities underlying the formation of entrepreneurial networks beneficial to economic prosperity and overall welfare.
    Findings – The paper conceptualises the potential benefits derived from a specific religious worldview, as well as its capacity to enrich entrepreneurial discourses. While these benefits are primarily situated at the individual level (at least to the degree to which religious beliefs can inform decisions), there is a rationale in viewing religious truth claims as constituent of ethno-religious
identities of both local and immigrant communities.
    Propositions exemplifying the behaviour of entrepreneurs who draw from such important ethic and religious resources are also offered.  Limitations of the present study, as well as areas of prospective research, are equally taken into consideration.
    Originality/value – The paper attempts to offer a tentative framework epitomising the significance of Greek Orthodoxy for the world of business and entrepreneurship. It further provides the theoretical foundations of future empirical research on religious-based entrepreneurial attitudes in the wider context of Eastern Orthodoxy.