religious perspectives | Moral Markets?

The Gospel of Capitalism is the Biggest Religion of All – Book Review

by Institute for New Economic Thinking (association of heterodox economists) | 25 Nov 2020 | book reviews, historical perspective, religious perspectives

The latest book by Villanova University’s Eugene McCarraher, who teaches humanities, is a deep dive into the history of a perverted love story and a false religion — the western worship of money and markets. The author testifies against a creed that has dominated our lives since the 17th century and offers an imaginative look at what can help us break the spell. In the following essay, cultural historian Lynn Parramore discusses The Enchantments of Mammon: How Capitalism Became the Religion of Modernity.

Adam Smith in Theological Perspective

by Jordan Ballor | 6 Aug 2020 | Good Markets project, Adam Smith, religious perspectives

“A new turn to religion in Smith studies helps provide a bertter understanding of the great Scottish philosopher and political economist than has traditionally been on offer. […] Rather than providing a close textual reading and explication of a particular passage or a comprehensive survey of religious and theological themes in Smith’s work, this essay sets the stage for a broad theological understanding of Smith.”

A Protestant Perspective on Privatization and Subsidiarity

by Jordan Ballor | 17 Jul 2020 | religious perspectives, governments & markets, opinion & ideas

“There are diverse theories and accounts of subsidiarity, and they can often (although not always) be understood as complementary. In what follows, I will sketch a brief biblical and historical account of subsidiarity, with special attention to Protestant sources, before concluding with some thoughts about the significance of this teaching for political philosophy and public policy, particularly as it relates to the legitimate scope of government authority and action in areas including the provision of public goods, (de)regulation, and privatization.”

The Economy and Religion: Two Worlds? Catholic Thoughts on the Spirit of Capitalism

by Kees de Groot | 13 May 2020 | historical perspective, critiquing / reinventing capitalism, religious perspectives

Economy and morality, or rather, capitalism and its ‘religious-ethical despisers’: two worlds and never the twain shall meet? On the contrary: the economic domain is not and has never been without morals and beliefs. Historically, Catholicism has contributed to the spirit of contemporary capitalism. But modern Catholic social thought has gradually developed a vision that suggests a conversion of the present global system. I will argue that it is necessary to continue the dialogue, not only because economists and faith traditions can critically contribute to each other, but also because this fosters the self-understanding of both faith traditions and economists.

‘Two Hundred Years Back, One Hundred Years Ahead: From One Revolution to Another’

by Govert Buijs | 18 Feb 2020 | economic growth & GDP, religious perspectives, Good Markets project, long read articles, historical perspective, climate change & sustainability, critiquing / reinventing capitalism, work - meaning & future

Two hundred years ago, a seemingly megalomaniac and even hopeless project was started in the West: overcoming poverty by creating more prosperity. This project was called “Progress”. Two hundred years later we can only conclude that this project was more successful than we could have anticipated. However, this project also has some serious shadow sides. As humanity we have to start a new, at first sight almost equally megalomaniac project for the next hundred years: making our prosperity sustainable.

The Enchantments of Mammon: How Capitalism Became the Religion of Modernity

by Digital Magazine 'Aeon' | 22 Oct 2019 | neoliberalism, religious perspectives, historical perspective

Far from representing rationality and logic, capitalism is modernity’s most beguiling and dangerous form of enchantment, argues Eugene McCarraher, associate professor of humanities and history at Villanova University in Pennsylvania. He recently published The Enchantments of Mammon: How Capitalism Became the Religion of Modernity (Harvard University Press, 2019).

Has Capitalism Become Our Religion?

by The Nation ("Principled. Progressive.") | 4 Oct 2019 | interviews, historical perspective, neoliberalism, religious perspectives

“We talk with historian Eugene McCarraher (author of The Enchantments of Mammon; How Capitalism Became the Religion of Modernity) about the myths and rituals of the market, the lost radicalism of the late 19th and early 20th centuries, and the rise of neoliberalism.”

Hajj: How Globalisation Transformed the Market for Pilgrimage to Mecca

by The Conversation ("Academic Rigour, Journalistic Flair") | 15 Aug 2018 | globalisation / free trade, religious perspectives

“As long as they are fit and financially able, the pilgrimage is an obligatory act of worship that followers of Islam owe to God once in their lifetime. […] But until the introduction of modern transport systems, most Muslims beyond the Arab world had little expectation of completing this fifth and final pillar of Islam. […] A look at Hajj-going among British Muslims in an age of globalisation underlines the growing role of the market for religious tourism in shaping the organisation of the pilgrimage.”

McMindfulness: Buddhism as Sold to You by Neoliberals

by The Conversation ("Academic Rigour, Journalistic Flair") | 23 Feb 2018 | opinion & ideas, religious perspectives

“The celebrated French activist philosopher and psychotherapist Félix Guattari observed some time ago that contemporary capitalism had begun to determine who we think we are. The power of corporate media, advertising, video games, Hollywood and the rise of social media condition how we present and think about ourselves. And in turn, our visions of ourselves participate in the production of all other commodities.”

Should the Church Rethink the Merits of Free Markets?

by External site | 13 Nov 2017 | lectures / talks, religious perspectives

“For decades, an ecumenical alliance of orthodox Christians has rallied around the consensus that both liberal democracy and the Church flourish best when government is smaller, and that free market works with, rather than against the imperative of human dignity. Recently, however, this conventional wisdom has been called into question by new voices who suggest that capitalism may have, in retrospect, been eating its way through the heart of common culture – which Johann Herder once defined as ‘the lifeblood of a people, the flow of moral energy that keeps a society intact.'”

Moral Markets?

Towards an Economy of Human Flourishing

Your portal to critical reflections on free markets, capitalism, business & economics