January 22, 2010 by masampson
By Mark Sampson
This is the second part of the series, following on from the previous article.
It is important to set the decline of the significance of land in economics within the larger context of the separation of humans from the natural environment as a consequence of the enlightenment. The origins of this split have been traced to the nominalist and voluntarist shift in the 13th century or even to the material-intellectual dichotomy in Plato’s work. With either interpretation, there was a dramatic tearing apart of man from his environment in the age of the enlightenment. Two key figures that are both representative of and contributive to this shift are Rene Descartes and Francis Bacon. Descartes, in his quest to find a metaphysical foundation in light of the growing skepticism in Europe, made a distinction between the experiencing subject and objects, or material substances. Thus a metaphysical dualism was created between mind and matter. Daly and Cobb argue that this had a significant impact on the relationship between mankind and the natural environment, in that “since… only humans possess subjectivity, it follows that only humans can be the locus of value.”[i] Continue Reading »
Posted in The Loss of a Sense of Place | Tagged Capitalism, loss of a sense of place, theology of place | Leave a Comment »
January 12, 2010 by masampson
By Mark Sampson
“Did Christianity Cause the Crash?” asks the provocative journalist Hanna Rosin in the December 09 issue of The Atlantic. Rosin’s well written article argues that the prosperity theology present in a significant amount of American churches has been a cause of the current economic crisis. In order to link this theology with the economic crisis, Rosin presents evidence to suggest that the areas, both geographic and demographic, where there was a high incidence of defaulted sub-prime mortgages are the same areas where the ‘health-and-wealth’ gospel prospered.
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Posted in Reflections | Tagged Capitalism, economic crisis, Recession, Sub-prime | Leave a Comment »
November 28, 2009 by masampson
Economy of Grace
- Kathryn Tanner
By Mark Sampson
Economy of Grace is a bold, short book that provocatively enters the debate about the appropriate relationship between theology and economics. Kathryn Tanner’s desire is to develop a ‘theological economy’ to highlight what she considers to be the deficiencies of capitalism. She engages this issue in three distinct stages. Firstly, She does this by looking at the theoretical framework needed to consider the significance of theology for economic matters. Following this, she constructs a theological economy based on grace, in conversation with the philosophical and theological discourse around ‘gift’. She concludes her book by illustrating some of the impact a theological economy would make on economic policies in the contemporary global economy.
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Posted in Book Reviews | Tagged Capitalism, gift, Tanner | Leave a Comment »
July 20, 2009 by marketplacemedia
Economics Today: A Christian Critique
-Donald Hay
By Michael Crook
In his book, Economics Today: a Christian critique, Donald Hay demonstrates “…that Christianity has much to contribute to the analysis of…major economic issues.” In considering this book and offering a critique of its contribution, this paper will use the categories of context, aim, method and content.
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Beginning with the context of the book, Hay identifies himself as an academic economist and as a Christian. The book is shaped by the broad economic debates in evangelical Christianity. On this topic, two points are made. First, “the major issue of concern for Christian economists in the 1970s and early 1980s was whether one form of economic system was more or less appropriate than another.” This pre-occupation also affects Economics Today. The most substantial treatment is given to the comparative merits of capitalism and socialism as economic systems. Second, the debate was characterized by three ideological streams: the evangelical left, the evangelical right and the evangelical centre. Within these categories, Hay has been identified as centrist, recognizing problems in the capitalist system without rejecting it completely. To Hay’s credit, throughout the book, he goes to great lengths to avoid ideology and maintain strong methodological integrity.
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Posted in Book Reviews | Tagged Capitalism, Christian Economics, Donald Hay | 1 Comment »
July 11, 2009 by masampson
By Mark Sampson
There are a seemingly endless amount of accounts of who or what is to blame for the current economic crisis. Is it the US government for allowing the collapse of Lehman Bros? Or was it the rating agencies who rated high-risk packages of sub-prime mortgages as if they were a rock solid investment? Or is it perhaps the very structure of the corporation that encourages short-term profits over long-term sustainability?
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Into this debate, if mostly indirectly, enters the voice of Pope Benedict XVI. His latest encyclical, Caritas in Veritate (Charity in Truth), is an exposition of the social doctrine of the Catholic Church as it relates to contemporary issues. This extensive document brings Catholic teaching to bear on globalization, technology, development, politics and economics.
Continue Reading »
Posted in Uncategorized | Tagged Capitalism, catholic social thought, Economics, gift, Pope Benedict | 1 Comment »
June 6, 2009 by masampson
By Mark Sampson
The Capitalism Project is undertaking a series of reflections on the loss of a sense of place in modern society. The Old Testament scholar Walter Brueggemann in his book The Land comments, “The sense of being lost, displaced, and homeless is pervasive in contemporary culture. The yearning to belong somewhere, to have a home, to be in a safe place, is a deep and moving pursuit.” The theologian Oliver O’Donovan explicitly connects this ‘homelessness’ with consequences of the modern economy: “Homo Oeconomicus [economic man], that unspiritual clod, has become a wanderer en masse.” This series will attempt to investigate the claims of Brueggemann and O’Donovan and consider the relationship between the loss of a sense of place and capitalism.
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Posted in The Loss of a Sense of Place | Tagged Capitalism, Economics, Loss of sense of place | 7 Comments »
A follower of Jesus reflects on the 2009 World Economic Forum
By Mike Todd
Ordinarily this is an opportunity for the titans of capitalism to gather together for three days of self congratulation and mutual admiration.
But not this year.
Apparently the 2009 edition of the WEC took on more of the appearance of a twelve-step meeting.
“Hello, my name is Bob, and I’m a banker.”
“Hi Bob.”
Seriously, in meetings as diverse as the World Economic Forum, very little is generally arrived at in the form of consensus. And yet, at the close of the Forum this year two general questions were being asked: Continue Reading »
Posted in Reflections | Tagged Capitalism, Davos, future of capitalism | 1 Comment »
March 31, 2009 by marketplacemedia
By Mark Sampson
The word ‘consumerism’ is one that elicits immediate response. Critics of consumerism can be found among all political allegiances, every religious faith and within most fields of ethical inquiry. However, it is not immediately clear that there is a consensus about how consumerism functions in society. Consumerism is often portrayed as simply an ideology or a belief system. Within this portrayal, a Christian response to consumerism is found by investigating the conflicting beliefs. For instance, the implicit anthropology of consumerism, as in the human as primarily a rational individual consumer, can be critiqued by a theological approach to anthropology. Any investigation into what it means to be made in the image of God would quickly critique the notion of human-as-consumer.
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Posted in Reflections | Tagged choice, Consumerism, Economics, miller | 6 Comments »
March 27, 2009 by marketplacemedia
In light of the recent financial crisis Princeton’s David Miller is interviewed on PBS’s Religion & Ethics Newsweekly as they discuss issues including executive pay, current regulation and even a shift in business culture. Thanks to Mike Todd for pointing out this clip to us. Click here to view the interview.
Posted in Sub-prime | Tagged Capitalism, morality | Leave a Comment »
March 16, 2009 by marketplacemedia
By Mark Sampson
The Financial Times has recently begun an intriguing series called ‘The Future of Capitalism.’ The vision and purpose of this project is certainly ambitious:
“The credit crunch has destroyed faith in the free market ideology that has dominated Western economic thinking for a generation. But what can – and should – replace it? Over the coming weeks we will conduct a wide-ranging debate on this dominant political issue of the day.”
At the Capitalism Project, we aim to follow this debate and consider the various ideas and opinions from a theological perspective.
Continue Reading »
Posted in Financial Times: The Future of Capitalism | Tagged Capitalism, financial times | Leave a Comment »
By Mark Sampson
