The latest issue of the Journal of Markets & Morality is now available online for current subscribers. This issue features the timely and challenging article, “Subprime Lending and Social Justice: A Biblical Perspective,” by William C. Wood, professor of economics at James Madison University and director of JMU’s Center for Economic Education. Prof. Wood notes that within the context of Christ’s call to love our enemies as well as our neighbors, “Christians cannot be complacent about credit markets even if they appear to be economically efficient as voluntary transactions.”
The concern for the poor and love of others that Wood observes particularly in the New Testament is also a major theme of the new Scholia translation. Wolfgang Musculus, a second-generation reformer and major biblical commentator of the early modern era, penned his commentary on the book of Psalms in 1551. Here for the first time is Musculus’ full commentary on Psalm 15 translated into English in conjunction with the exegetically-related appendices on oaths and usury. With regard to the question of usury, in his introduction to the Scholia Jordan J. Ballor writes, “Musculus’ reflections on usury in Psalm 15 are significant because they represent a stream of Protestant thought that largely has been ignored by economic historians.” Musculus himself contends that lending at profit to the least among us “is not only condemned as inhuman by the laws of Christ but also by the laws of nature. For it is plainly inhuman to pursue a profit from the sweat and calamities of the poor.”
Also in this issue:
- Robert F. Garnett Jr. on “Philanthropy, Markets, and Commercial Society: Beyond the Hayekian Impasse.”
- Martin Calkins and Jonathan B. Wight consider “The Ethical Lacunae in Friedman’s Concept of the Manager.”
- Julio H. Cole also explores “Milton Friedman on Income Inequality.”
- John Lunn and Vicki TenHaken pursue “Human Finitude and Specialized Production: A Christian-Realist Rationale for Business Enterprises.”
- Guido Hülsmann investigates “The Production of Business Ethics.”
The editorial by executive editor Stephen Grabill, “Hope Amid Financial Calamity,” and article abstracts of current issues are freely available to nonsubscribers (you can sign up for a subscription here, including the very affordable electronic-only access option). And as per our “moving wall” policy of two issues, the most recent publicly-available archived issue is volume 10, number 2 (Fall 2007).
If you are a student or a faculty member at an institution of higher learning, please take the time to recommend that your library subscribe to our journal. If you are in interested layperson or independent scholar, please consider subscribing yourself.