Gender

Despite a large literature on gender in both theology and economics, economists and theologians have had little to say to each other on the subject. The intersection of economics, theology, and gender proves a fruitful one for biblical hermeneutics, however, showing the economics of gender to be intrinsically part of the biblical story of creation ideal, fall, and redemption. In the paradise of creation, absent scarcity, there is no gender difference. Woman is created equal to the man, who rejoices in her creation as someone like him. Gender appear only after the rupture of humankind’s relationship with God, when they must leave paradise. The resulting scarcity opens the door to economic choice, the sexual division of labor, and gender difference. In redemption, Jesus taught explicitly against gender norms. Christianity provides personal and institutional resources that enable its adherents to behave in ways that are at odds with prevailing economic and social structures.

Regulation of Religious Markets

This chapter summarizes the current state of economic research on the regulation of religious markets and suggests directions for the future. Following a discussion of the differing views of Adam Smith and David Hume on the wisdom of state support of religion, the chapter next describes the early work—mainly by sociologists—on the empirical relationship between religious pluralism and religious participation. Because of substantial flaws in the pluralism/participation research, emphasis in more recent years has shifted to studying the effects of regulations on religion, such as the existence of state religions and restrictions on freedoms of religious groups. In the future, more work needs to be done to answer empirical questions on the effects of religious regulation, but more importantly economists need to develop a holistic theory of religious market regulation that accounts for the simultaneous decisions of individuals, religious organizations, and government actors.

Faith, Religion, and International Development

Discussion of faith, religion, and development often raises controversy, including over terminology. This chapter considers the various formal dialogues among development practitioners and faith-inspired actors, recounting the history and assessing future prospects. Ignoring or mismanaging the dialogue is likely to be costly for development, especially in some of the poorest parts of the world where faith and religion are particularly important.

Christianity and the Prospects for Development in the Global South

There are two key facts about development that are obvious yet often overlooked: the solution to material poverty is material wealth and the only sphere of society that generates such wealth is business. From these two foundations, the argument in this chapter is that Christianity can be, and often is, conducive to the kind of environment that business needs to flourish and for business to contribute to the well-being of society. It is remarkable the extent to which the role of religion and business are ignored in mainstream development thinking. One reason this is generally overlooked is that the development community tends to focus on definitions and causes of poverty, rather than what causes wealth. This chapter discusses the role of the Evangelical-Pentecostal-Charismatic Movement in promoting wealth through a sense of calling, a positive mind-set, delaying gratification, stimulating entrepreneurship, rationalization, and nurturing voluntary associations.

Interface and Integration in Christian Economics

The sad and lonely profile of late twentieth-century Christian scholarship in economics has enjoyed a refreshing makeover in the past two decades. Encouraging new research on the overlapping interface of faith and discipline has attained critical mass and fruitful momentum. This interface includes contributions under the umbrella term “economics of religion,” and somewhat-less-often cited contributions to “positional” and conflict economics, and to institutional mechanism design in law and economics. Beyond interface lies scholarly “integration of faith and discipline” that alters and cross-leavens the foundational frames for analysis in both economics and careful Christian thinking about divine and human nature and society. Such integrative scholarship is still in its infancy. But some of it—in the ethical underpinnings of national economic growth and flourishing, and in the economics of identity and social identification—is attracting noteworthy scholarly attention, as measured by the citation counts used recurrently in this survey.

Pentecostal Approaches to Economics

This chapter outlines a Pentecostal approach to engaging with economics. It is tentative not only because there has not been to date substantive Pentecostal thinking about economics but also because it is impossible to make categorical statements about a movement that is rapidly growing and transforming. There is, however, a prevailing spirituality, a set of values and attitudes that are common among Pentecostals, notwithstanding their diversity, that are capable of framing the tenor of a dialogue with economists. The movement can be understood as a free-market religion that has developed alongside the rise of globalizing capitalist society. Pentecostal engagement with economics can be contrasted with the tendency among mainline churches and theologians to reject capitalism and free trade. Instead, it argues that the Pentecostal embrace of the emerging systems of global trade are not mere capitulations to oppressive consumerism but, rather, participate in the redemptive transformation of the market.

Voluntary Exchange and Coercion in Scholastic Economics

The economic model of the scholastics involves the following fundamental concepts: need or necessity, justice and the validity of agreements, and the nature of the will and of consent in the face of coercion. Need is the motive for engaging in exchange. But need is a relative thing. A hungry or sick person buying food or medicine is motivated by a different quality of need than someone in the market for a luxury article. Different needs place different obligations on others to supply them. If someone lacks food or other basic necessaries and has nothing to offer in exchange, it may be a duty of charity to succor him with a free gift of alms, that is, without recompense. In extreme cases it may even be a duty of justice. Conversely, it may be a duty of charity to sell cheap to, or to buy dear from, someone in deep distress.

Economic Justice

Christianity has had a long-standing interest in economic justice, rooted in its Scriptures, especially Old Testament prophets and the New Testament Gospels. It was taken up by the Church Fathers and the Scholastics, in their concern for the poor, just prices, and usury. Taking this concern to modern market economies is complicated but important. After all, globalization has resulted in rampant problems of materialism, consumerism, and individualism. It has led to the commodification of the human person who is viewed only as a consumer or as a factor of production. Collective-action problems have become even more severe, as in the cases of global warming and the depletion of fish stocks. Christian thought and practice have unique contributions to offer on these challenges. In particular, its linkage of justice and charity as an inseparable pair, its notion of the common good, and its theological anthropology are well suited to addressing these issues in a rational fashion.

Reformed Christian Economics

Within the Reformed Christian tradition, there is a diversity of economic thinking. Contributions differ with respect to their theoretical significance, scientific originality, and typicality for the reformed tradition. Four different typologies or approaches are distinguished: some use a single normative key concept, while others choose to embed their approach in an existing school, which they try to correct. In addition a welfare approach and a renewed normative approach are distinguished. Of the selected studies that are analyzed the thematic-oriented approach is argued to be lacking in terms of theoretical reflection and being often oriented to the own reformed public. Embedded approaches are better linked to standard economic theories, follow a specific economic methodology and interact relatively much with fellow economists. A critical element in the welfare-approach is the link between economics and (economic) ethics. The normative institutional contributions are argued to provide the most influential and systematic type of reformed economic thought.

Economics and Theology after the Separation

The date of the separation of economics from Christian theology is debated, as is its explanation. The process also differs in Britain and America. Richard Whately and Philip Wicksteed’s accounts of the basis of separation in nineteenth-century Britain are considered, and in America the twentieth-century accounts of the impact of the Social Gospel on the founding of the American Economic Association, and of Frank Knight and Reinhold Niebuhr. Knight is a particularly interesting case in that he considered economics to be inadequate on its own while vigorously rejecting the contribution of existing Christian ethics. Economic theory ignored theology, and theology also came to ignore economic theory. The connection between the separation and the wider secularization thesis is discussed, drawing on the work of Charles Taylor.