Posts tagged with: journal of markets & morality

With this issue of the Journal of Markets & Morality, we introduce a new semi-regular feature section, the Status Quaestionis. Conceived as a complement to our Scholia, the Status Quaestionis features are intended to help us grasp in a more thorough and comprehensive way the state of the scholarly landscape with regard to the modern intersection between religion and economics.

Whereas the Scholia are longer, generally treatise-length works located in the fifteenth, sixteenth, and seventeenth centuries, the Status Quaestionis will typically be shorter, essay-length pieces from the eighteenth, nineteenth, and twentieth centuries. The first installment of the Status Quaestionis features an essay by Sergey Bulgakov (1871–1944), a renowned and influential Russian Orthodox theologian. His essay included in this issue, “The National Economy and the Religious Personality,” first published in 1909 and translated here by Krassen Stanchev, represents the first and in many ways most lasting Orthodox Christian response to the Weber thesis.

Peter Klein, blogging at Organizations and Markets, considers the Bulgakov translation and notes, “Bulgakov, widely regarded as the greatest 20th-century Orthodox theologian, has been attracting increasing interest in recent decades, in both East and West.”

Indeed, Rowan Williams, Archbishop of Canterbury, says this of Bulgakov’s contribution in economics:

In his early work he picked up the language of creativity and applied it to civic relations. He proposed understanding business, commerce and, in fact, much of daily life in the context of creativity. In his book The Philosophy of Economy (1912) he said there was no such thing as economic man, homo economicus, which was to say, no set of economic answers that could tell us how society ought to be run. The context was Russia’s first 20th-century attempt to modernise by borrowing economic ideas from the west, and already Bulgakov was arguing, against certain German economists, that pure economics wouldn’t work in Russia.

Williams’ interview, which touches on Bulgakov, Dostoevsky, and the broader history of Russia, is wide-ranging and illuminating, especially given current developments in relations between Russia and former Soviet republics.

In the introduction to his translation, “Sergey Bulgakov and the Spirit of Capitalism,” Krassen Stanchev, who serves as board chairman of the Institute for Market Economics, observes that the “language of creativity” and “personalism” identified by Williams in Bulgakov,

was first outlined by Bulgakov in the essay translated here. The economy is a human destiny; the man is ‘master’ (in Russian this word means both ‘an owner’ and ‘a housekeeper’) of the worldly establishments; not a ruler or dictator but the one who humanizes the world. This concept, to my understanding, is compatible with the most enlightened economic thinking of the twentieth century.

For more on recent developments in the relationship between Orthodox theology and economic thinking, see John Couretas‘ review, “An Orthodox View of Contemporary Economics, Politics, and Culture.”

Also in this issue:

  • Bishop Marcelo Sánchez Sorondo considers “The Importance and Contemporary Relevance of Joseph Ratzinger/Benedict XVI’s Jesus of Nazareth.”

  • Marek Tracz-Tryniecki explores “Natural Law in Tocqueville’s Thought.”
  • Christopher Todd Meredith examines “The Ethical Basis for Taxation in the Thought of Thomas Aquinas.”
  • José Atilano Pena López and José Manuel Sánchez investigate “Smithian Perspective on the Markets of Beliefs: Public Policies and Religion.”
  • Surendra Arjoon discusses ethics in the corporate culture with “Slippery When Wet: The Real Risk in Business.”
  • Gregory Mellema expounds on “Professional Ethics and Complicity in Wrongdoing.”
  • And a number of excellent reviews of recent books, put together under the direction of our book review editor Kevin Schmiesing.

The editorial and article abstracts of current issues, including my “The State of the Question in Religion and Economics,” 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 1 (Spring 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.

Blog author: kosten.joseph
Thursday, April 3, 2008
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Yesterday I enjoyed a stimulating presentation of Harvard Law Professor and current U.S. Ambassador to the Holy See Mary Ann Glendon’s new Italian-language collection of essays, Tradizioni in Subbuglio (Traditions in Turmoil). Glendon has previously spoken at Acton’s closing Centesimus Annus conference at the Pontifical Lateran University and her address has been published in the latest issue of the Journal of Markets and Morality.

Situated near the Pantheon at the Istituto Luigi Sturzo, the event was attended by professors, lawyers, journalists and Vatican officials. Kishore Jayabalan, director of Istituto Acton, and I attended the book release which turned into a mini-conference on human dignity and human rights.

Prof. Valerio Onida, an Italian judge, commented that Glendon’s writings “represent a positive outlook that is diverse and encompasses many aspects of humanity. Human dignity, as represented in this work,” Onida continues, “is urgent for the whole world. The problems that affect some aspects of humanity affect the whole global human community.” Veering away from the direct commentary on the book, Onida expressed his view that the real problem “is that there are so many people who do not enjoy basic human rights.” In closing, Prof. Onida expressed thanks for the discourse of Mary Ann Glendon because “it explores these issues and clarifies the limitations of legislation.”

Following Onida, Bishop Marcelo Sánchez Sorondo, Chancellor of the Pontifical Academy of Social Sciences (where Glendon served as president from 1994 until her appointment as ambassador), gave an excellent discourse covering Traditions in Turmoil as well as other socio-economic issues. He cited Tocqueville at several points, saying, “the manners of the people are more important than the laws. This was one of the basic differences Tocqueville saw between France and the United States.” Sanchez accordingly addressed the need for a moral culture in the fields of economics and politics. Complementing Glendon’s research and understanding of the human person, he declared that “Many types of institutions have an agenda, both in Europe and the United States. An understanding of fundamental human development is crucial for understanding the development of society. Indifference to values creates many problems we face in today’s society.”

Closing the presentation of her book, Glendon made a few brief comments. She reminded those present that “Traditions, if they are alive and healthy, are systems in movement. As Alasdair Macntyre has put it, a living tradition is constituted by an ongoing argument about the goods that give it point and purpose. As for turmoil, this troubling state is not necessarily bad for a living tradition. In fact, a period of turmoil—an encounter with new and disturbing elements—can be the springboard for a great period of creativity, as well as a time of risk.”

Glendon’s book contains several fascinating chapters, including ones on the cultural supports of the American democratic experiment, Rousseau and the revolt against reason, the illusions of absolute rights, and the 1995 UN Beijing Women’s Conference, where she served as the head of the Holy See delegation.

While it appears that Glendon’s work is not very well-known in Italy, that should change with the publication of this book and, of course, her term as ambassador.

The newest issue of the Journal of Markets & Morality has been posted. The publication of this volume fulfills a full decade of production of the journal under the continuing leadership of founding and executive editor Stephen J. Grabill.

This issue of the journal features a scholia translation of Leonardus Lessius, “On Buying and Selling” from 1605. Lessius was a Jesuit theologian considered to be an important figure in the development of pre-Smithian economics by scholars like Joseph Schumpeter, John T. Noonan, and Raymond de Roover. Wim Decock provides both a translation of Lessius’ work as well as an introduction placing him in his early modern context of scholasticism and moral theology.

The articles in this volume are an especially excellent collection, including a piece by Mary Ann Glendon, who was recently named the U.S. ambassador to the Vatican, “John Paul II’s Challenges to the Social Sciences.” Other contributors include John R. Schneider (Calvin College), Dr. Donald P. Condit (a medical doctor), Pamela Z. Jackson (Augusta State University), Jonathan E. Leightner (Augusta State University), John Meadowcroft (King’s College London), Edward J. O’Boyle (Mayo Research Institute). Dr. Condit’s article is of particular contemporary relevance, as he inquires, “Should Business Be Responsible for Employee Health Care?”

We also have a number of excellent reviews of recent books, put together under the direction of our book review editor Kevin Schmiesing. And as per our “moving wall” policy of two issues, the most recent publicly-available archived issue is volume 9, number 2 (Fall 2006).

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.

The Journal of Markets & Morality is one of eight journals that has been selected for indexing in the seminally important ATLA Religion Database in 2007. The American Theological Library Association (ATLA) is a professional association of theological libraries and librarians, with almost 300 institutional and 600 individual members.

From the ATLA’s website: “The ATLA Religion Database (ATLA RDB) currently indexes more than 500 journal titles and approximately 250 polygraphs each year, and considers new titles for evaluation based on member, publisher, and scholar recommendations.”

The Journal of Markets & Morality is one of only 20 journals that have been added to the database since 2002. In that time the database has gone through some major remodeling, including the discontinuation of the indexing of a number of journals.

The fact that our journal is one of the select few that has been added to this important resource during this process of increased competition speaks to the unique interdisciplinary focus of the journal and the high quality with which it is pursued. Of course a great deal of the credit goes to the founding editor of the journal, Dr. Stephen Grabill.

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.”

We’ll be launching a small advertising campaign to highlight this achievement. 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.

This issue of the Journal of Markets & Morality features a scholia translation of Cardinal Cajetan’s (1469-1534) influential treatise On Exchanging Money (1499). Cajetan is the author of the officially approved commentaries on the Summa of Thomas Aquinas, which are easily available in the magnificent Leonine edition of this magnum opus. He is even more famous as the papal legate whom Leo X (1513-1521) dispatched to Germany in a futile effort to bring Martin Luther back into the Roman fold. Economic historians have pointed out that Cajetan’s treatise holds a decisive place in the history of economics because it set forth the fullest and most unqualified defense of the foreign exchange market at its date of publication.

We are also pleased to publish Raymond de Roover’s essay, “Cardinal Cajetan on ‘Cambium’ or Exchange Dealings,” both as an introduction to the Cajetan scholia as well as “a testament to †Raymond de Roover’s original and enduring contribution to the field of economic historiography.” Likewise, this issue’s editorial by Stephen J. Grabill surveys “Raymond de Roover’s Enduring Contribution to Economic History.”

The editorial and article abstracts are freely available to nonsubscribers (you can sign up for a subscription here, including the very affordable electronic-only access option).

Other articles included in this issue:

  • “The Price of Freedom: Consumerism and Liberty in Secular Research and Catholic Teaching,” by Andrew V. Abela

  • “Ideas, Associations, and the Making of Good Cities,” by Robert Driscoll
  • “The Claim for Secularization as a Contemporary Utopia,” by Jan Klos
  • “The Fiscal and Tributary Philosophy of Antonio Rosmini,” by Carlos Hoevel
  • “A ‘Marketless World’? An Examination of Wealth and Exchange in the Gospels and First-Century Palestine,” by Edd S. Noell
  • “Intersubjectivity, Subjectivism, Social Sciences, and the Austrian School of Economics,” by Gabriel J. Zanotti
  • “Can Social Justice Be Achieved?” by José Manuel Moreira & Arnaud Pellissier Tanon

Also included is our usual outstanding fare of book reviews, courtesy the editorial oversight of Kevin Schmiesing.