The most recent issue of the Journal of Markets & Morality, vol. 16, no. 2, has been published online at our website (here). This issue’s articles explore a range of subjects from biblical understandings of poverty, Islamic scripture, John Locke, the ills of apathy, an Eastern Orthodox view of the family and social justice, and much more.
In addition, this issue includes our regular symposium of the papers from the Theology of Work Consultation at the Evangelical Theological Society’s 2012 conference.
2013 marked several important anniversaries, as executive editor Jordan Ballor points out in his editorial, (more…)
The newest issue of the Journal of Markets & Morality has been published. The issue is available in digital format online and should be arriving in print in the next few weeks for subscribers. Volume 16, no. 1 is a theme issue on the topic of “Integral Human Development,” which was the focus of Pope Emeritus Benedict XVI’s 2009 encyclical Caritas in Veritate. He writes,
The development We speak of here cannot be restricted to economic growth alone. To be authentic, it must be well rounded; it must foster the development of each man and of the whole man.
In this light, this most recent issue of the Journal of Markets & Morality focuses on the goal of development with the broadest possible conceptions, combining insights from the disciplines of theology, philosophy, ethics, economics, and law, in order to explore the complex goal of lifting people out of all forms of poverty — whether material, spiritual, or otherwise — so that they can better fulfill their God-given potential and vocations. (more…)
There’s some evidence that the distress associated with poverty, such as worry about where your next meal is coming from, can create a negative feedback loop, leaving the poor with fewer non-material resources to leverage against poverty.
In 2011, a study by Dean Spears of Princeton University associated poverty with reduced self-control. His empirical study attempted “to isolate the direction of causality from poverty to behavior,” resulting one possible explanation “that poverty, by making economic decision-making more difﬁcult, depletes cognitive control.” A working paper from NBER from earlier this year examined “Poverty and Self-Control,” and Bernheim, Ray, and Yeltekin found that “poverty damages the ability to exercise self-control.”
A working explanation runs along these lines: there is a finite amount of mental energy that each person has, and the more of it that is spent on things like worry and concern for acquiring basic needs each day, the less there is available for things like planning, making sound financial decisions within a limited timeframe, and other choices related to economic success over the long-term.
It can be difficult for social sciences, especially those like economics which often rely on models of rational actors, to account for the factors which lead to seemingly irrational behavior. But an anthropology informed by Christian theology, which recognizes the spiritual nature of the human person, including the anxiety that often attends to material insufficiency, goes a long way towards providing a coherent explanation and understanding of the complexities of poverty. The poor often experience a kind of despondency that can be crippling. Worry can create feedback loops which tend to reduce a person’s perspective of what is possible, a kind of poverty trap from which it can be difficult to escape.
Johnny Cash and Willie Nelson capture this dynamic well in their performance of “Worried Man,” from VH1 Storytellers (1998):
In the full recording of the Storytellers album, Johnny tells the genesis of this version of the song. He had encountered a beggar in Falmouth, Jamaica, who said, “Mr. Cash, I’m a worried man. I’m a very worried man.” Johnny thought, “Man, here’s a new approach. I’ve never had this one before.” Johnny asked what was worrying him, and the bum responded, “I got a wife and nine pikni [children] and no job. That makes me a worried man.”
As Robin Klay and Todd Steen explore in their article in the forthcoming issue of the Journal of Markets & Morality, the Christian virtue of hope is an important antidote to the devastating effects of worry, uncertainty, and depression. In “Christian Hope and God’s Providence in the Context of Economic Change and Development,” Klay writes about her experiences of the “‘stubborn hope’ of poor people, who, having very little, are nevertheless determined to use their labor, knowledge of markets and local resources, and small investments to open up a better future.”
That our republic suffers from disorder and decay is no secret. The moral and economic order appears increasingly chaotic and lacks a deeper meaning. The country, bitterly divided politically, cannot agree on the purpose of freedom. Frustration has turned into increased political activism and fragmentation, and perhaps the only national agreed-upon principle is that people feel increasingly separated from their own government.
The current year (2012) has seen some like-minded books published to address the magnanimity of the crisis we face. Sound thinkers such as Arthur Brooks and Rev. Robert Sirico have offered up, respectively, The Road to Freedom and Defending the Free Market. They are, without a doubt, worthwhile examinations of economics and our moral order. While there is no dearth of books to address our problems and its root causes, perhaps none is better than Os Guinness’s A Free People Suicide: Sustainable Freedom and the American Future.
Guinness trumpets a stirring defense of ordered liberty, examining the deep meanings of freedom and its ability to survive and perhaps flourish again. An assessment of freedom beyond the surface is truly central to our republic. Americans, as they have in the past, must once again ask, “How can a free Republic maintain its freedom? (more…)
The most recent issue of JBIB focuses on the subject of hybrid business and features a controversy on the subject of Business as Mission. Margret Edgell, the issue’s guest editor, describes it as follows: “Three invited authors respond to each other from their different disciplinary and theological perspectives. They raise and debate the question: Is Business as Mission a new field with great potential for Christian scholarship?” (10)
This paper overviews classical traditional theories of consumer behavior and demonstrates their application in an introspective exercise to help students formulate a philosophy of life, with encouragement to adopt a God-centered worldview centering not on shallow personal values (e.g., material goods, pleasure, status, etc.) but rather on Christ’s values: loving and serving others, thereby loving and serving God. Students visualize what living life according to each of these theories and values entails. This demonstrates the theories’ personal relevance despite their flawed worldviews, and it assists students in becoming more enlightened human beings who live a purpose-driven life, pursuing God rather than shallow values that become idols.
While welcoming proposals across the social science of religion, we expect that most will be in the areas of: Religious markets, competition, monopoly, and regulation; Economic growth, development, poverty, and inequality; Social networks, and social/spiritual/religious capital; Extremism, conflict, sectarianism, and religious persecution; Application of experimental, simulation, and computational methods; Beliefs, attitudes, doctrines, norms, and values, especially in the context of evolutionary theory; Labour markets, management of volunteering and governance in not-for-profit organizations; Institutions, organizations, congregations, and denominations; Trends in participation, attendance and commitment to religious organizations; Conversion, switching, proselytizing, and the marketing of religion; Religious giving, philanthropy, and church finances; Demography, fertility, family, marriage, and gender; Education, human capital, health, and happiness; Race, ethnicity, and discrimination; Politics, public choice/finance, church-state issues, and the law.
Development theorists, economists, and geo-political scientists have indicated that this century will mark the rise of Asia as the center of economic, political, and cultural activity. Once again, Asian cultures will have a great influence in the shaping of human civilization. This is an opportune time, as we come to the dawn of the Asian century, to reflect upon the trends of philosophical thought that Asian and Christian practitioners of philosophy, or practitioners of Asian or Christian philosophy, are accomplishing. If we are taking a central role in the furthering of human civilization, we must understand what concerns us, how we use our traditions to understand the world that is unfolding, and how we can participate in the articulation of a just and sustainable future.
most people were convinced that there was a finite and fairly fixed amount of wealth in the world, and a comparatively small amount of that to which they would ever have access in their part of the world so that if a member of their society became noticeably richer, they would naturally assume that it was at someone else’s expense.
The new issue of the Journal of Markets & Morality
The Spring 2012 issue of the Journal of Markets & Morality (15.1) has been posted at www.marketsandmorality.com and should be arriving in print to our subscribers sometime soon in the coming weeks.
In this issue, Jordan Ballor addresses Christian attitudes toward business across confessional lines and throughout history in his editorial. Sam Gregg and Philip Booth respond to Daniel K. Finn’s Controversy contribution from last issue. In further exploration of the convergence (or lack thereof) between libertarian philosophy and Roman Catholic social teaching, Bridget Kratz and Walter Block argue for common ground on the topic of immigration. Charles McDaniel and Marek Tracz-Tryniecki engage the all-too-relevant subject of financial crisis, the former pointing to insights from the Austrian, post-Keynesian, and Distributist schools of thought and the latter in the thought of Alexis de Tocqueville. Edward O’Boyle and Walter Schweidler (translated by Philip Harold) each offer contributions on the subject of human development. Johan van der Vyver examines federal and family barriers to children’s rights. Hunter Baker reflects on social justice, government, and society. Michael D’Emic demonstrates the logical identity of the sixteenth-century, Spanish scholastic Saravia de la Calle’s understanding of just price and modern equilibrium theory. Matthew McCaffrey engages three recent works on the morality of the marketplace in his review essay. We have another installment of our Symposium, offering papers from the Evangelical Theological Society’s Theology of Work and Economics consultation. This issue also has yet another stellar Reviews section (if I do say so myself). And lastly, this issue’s Scholia offers an update and translation (respectively) of two works of the English bishop John Jewel on the moral issue of usury, a selection from his commentary on 1 Thessalonians and some private notes that were written in Latin and never before translated into English.
The Journal of Markets & Morality is planning a theme issue for the Spring of 2013: “Integral Human Development,” i.e. the synthesis of human freedom and responsibility necessary for the material and spiritual enrichment of human life. According to Pope Benedict XVI,
Integral human development presupposes the responsible freedom of the individual and of peoples: no structure can guarantee this development over and above human responsibility. (Caritas in Veritate 17)
There is a delicate balance between the material and the spiritual, the institutional and the individual, liberty and responsibility undergirding this concept.
A society should establish mechanisms restoring harmony between human dignity and freedom. In social life, the concept of human rights and morality can and must serve this purpose. At the same time these two notions are bound up at least by the fact that morality, that is, the ideas of sin and virtue, always precede law, which has actually arisen from these ideas. That is why any erosion of morality will ultimately lead to the erosion of legality. (3.1)
And, again, among Protestants The Cape Town Commitment confesses a failure “to regard work in itself as biblically and intrinsically significant, as we have failed to bring the whole of life under the Lordship of Christ.” Indeed, in addition to the theoretical difficulty in articulating a coherent, Christian model for integral human development, there is the equally daunting task of practical implementation.
The Journal of Markets & Morality is a peer-reviewed academic journal published twice a year–in the Spring and Fall. The journal promotes intellectual exploration of the relationship between economics and morality from both social science and theological perspectives. It seeks to bring together theologians, philosophers, economists, and other scholars for dialogue concerning the morality of the marketplace.
This issue of the journal (14.2) is actually a theme issue on Modern Christian Social Thought. Accordingly, all ten articles engage the history and substance of various approaches to Modern Christian Social Thought, with special emphasis on the Reformed and Roman Catholic traditions.
There is also another installment of our Controversy section, featuring a three-way debate over the question, “Does Libertarianism Tempt Some Catholics to Stray from Catholic Social Thought?”
As always we have another thorough collection of first-rate book reviews from top scholars and experts in the fields of theology, ethics, and economics.
Lastly, our Status Quaestionis section includes two works from the nineteenth century which have never before been translated into English: “Critical Analysis of the First Concepts of Social Economy” (1857) by Luigi Taparelli, SJ and “Christ and the Needy” (1895) by Dutch theologian and statesman Abraham Kuyper. All in all, it may possibly be our largest issue yet. (more…)
This issue of the journal features a Scholia translation of selections from On the Observation of the Mosaic Polity by Franciscus Junius (1545-1602), the Huguenot, Reformed, scholastic theologian (a Latin version of Junius’ original treatise is available for download at Google Books, along with a host of his other works). Best known as a professor of theology at Leiden University from 1592–1602, Junius authored this treatise in order to address rising challenges in the young Dutch Republic. In his translator’s introduction, Todd Rester summarizes the Republic’s concern, “[I]f Scripture alone is the authority in the Church for faith and morals… how does it apply in the realm of the Christian State?” Junius’ careful and sober analysis of the various kinds of law and each law’s proper sphere of application transcends his time and context, standing as a significant reference for anyone who may seek to address the question, “What relation is there between the Law of Moses and the Law of the State?” Furthermore, the interdisciplinary character and depth of the work serve as an example of the fluidity and overlap of often-perceived contradictory disciplines and methods of the time, such as humanism and scholasticism, theology and law. Thus, for the student of political philosophy and historical theology alike, On the Observation of the Mosaic Polity stands as an excellent resource for the study of the engagement between historic, Christian faith and the rule of law.
In addition to our standard fare of articles and book reviews, this issue marks the introduction of the Journal of Markets & Morality’s first publication of the symposium of the Theology of Work Consultation of the Evangelical Theological Society, which will appear serially in the spring issue. It is our conviction that this will serve as a helpful forum for an integrated perspective on stewardship, work, and economics for both business and ministry leaders.