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RE-THINKING MONEY, RELIGION & POLITICS

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Faith and Economics: The Sociology of Virtuous Capitalism

Note that while the emphasis of this blog is on Christianity, we invite leaders of all faith traditions to contemplate and act in influencing the economic good of society.


Christmas is a time when religion—in this case, Christianity—gets to take the spotlight unabashedly and without apology in a world that has become increasingly secular. Though seasonal parades, TV specials, and decorations feature a medley of non-religious symbols and icons, I don't think anyone would disagree that at its core, it is a deeply religious holiday.


Outside of Christmas and a few other occasions where the secular and sacred comingle for a short time, the various segments of society—government, education, business, etc.—have for the most part become separated from religion. The shift from their previous long-standing integration can be seen in the way organizations have implemented a strict divide that has become the accepted standard for most of us.


The current cultural separation was not always this way. There was a time in Western society when it would have been unthinkable for the Church (capital "C" and usually institutional Christianity) not to weigh in on societal matters. The Church historically played a pivotal role in shaping the moral and ethical frameworks within communities, acting as a guiding force that influenced not only individual behavior but also broader societal norms.


From its early days, spiritual leaders were often at the forefront of discussions regarding justice, charity, and the common good. They provided a moral compass during times of crisis, offering guidance on issues such as poverty and education. In many places, the church (small "c" and usually the local congregation) was not just a place of worship but also a center for social interaction. It was where people gathered not only to pray but also to discuss issues of the day, seek guidance, and mobilize for social causes.


Church teachings also inspired countless movements for reform, including the abolition of slavery and civil rights. This involvement was seen as a natural extension of its mission to show us how to care for each other and promote justice. As society changed, though, particularly with the rise of secularism and pluralism, the Church's influence began to be much less important to many people.


The rise of individualism and the separation of Church and State led to a re-evaluation of its role in public life. While some denominations and religious leaders continue to engage actively in social issues, others have retreated from the public sphere, leading to a situation where the Church's silence on critical societal matters, such as the economy, has become commonplace.


The following segment is the 13th and last in our series featuring the book Redeeming Capitalism by Ken Barnes. This installment addresses the issue of how the Church can and should continue to influence society for good, particularly when it comes to ethics. You can pick up the start of this series here. See the chart here for the context of SOCIOLOGY in the major historic forms of capitalism.


"In eighteenth-century Europe, when traditional capitalism was just beginning to emerge from the mercantilism of the previous era, no one knew that the economic landscape was changing forever. There was no thought of economic epochs or sociological phenomena. We who study these things have the benefit of hindsight to describe them in terms that meet our needs, regardless of whether the people of that time would have agreed with our assessments.


Looking back on that century, we see quite clearly that when it comes to the relationship between economics and theology, business and ethics, there simply was no distinction made between cult [faith] and culture; they were genuinely homogenized. Society based its laws on church teaching, and the rhythm of economic life mirrored the church calendar, which itself reflected a combination of the natural seasons and the lectionary.


During the modern era, though, things became very different, especially in America, where the separation of church and state, while not nearly as pronounced as it is today, was nonetheless enshrined in law. As noted by Max Weber, Protestant sects dominated the economic landscape, and while the cult [faith] became homogenized, culture became marginalized. Calvinists especially were happy to be in the world but not of the world, and they ran their businesses unabashedly according to their religious convictions.


In our current postmodern era, though, the opposite is true. Religion has been pushed to the margins, and culture has become homogenized around moral relativism and economic excess. Virtuous capitalism is neither of these things.

 

Virtuous capitalism will work because it will harmonize cult [faith] and culture in order to genuinely serve the common good. In our pluralistic, globalized economy, it is essential that society do the same.


To bring about virtuous capitalism, there will need to be a dialogue between all stakeholders–public and private, large and small, rich and poor, secular and religious. The economic problems we face are legion and cannot be solved quickly or coercively.


This is a multigenerational project that requires the humble commitment of like-minded people who see the current [economic] landscape as both unsustainable and undesirable. Even without religious consensus, religious voices are part of the conversation and can effectively inform the discussion by plumbing the depths of our spiritual and moral reservoir"  (Barnes, Redeeming Capitalism, p. 205-6) (Emphasis throughout is ours.)



Back in the day when the Church was truly integrated with other parts of society, it was a given that its leaders would weigh in on impactful decisions. There was a time when the heads of the Church heavily influenced issues ranging from the cessation of war to who should become a country's next monarch.


We are now in a very different environment, where there is deep disagreement as to whether Church leaders should voice their opinions on matters outside of the "spiritual." Expressing judgment on an issue beyond what is deemed their territory can be a very fineif not dangerousline for the clergy to walk should they "get to meddling."


Particularly in our present-day political climate, many issues now have solidified "right" or "left" points of view. The current myopic mindset holds that you are either for one side or the other on all issues, with little allowance for having convictions that fall on different sides of the divide. Furthermore, if you are not in complete agreement with one side, like a soldier in formation, you risk being accused of being an enemy, even by family members. This mindset makes it difficult for pastors to address big and important social issues without the threat of repercussions from powerful congregants who hold opposing points of view.


For example, there are people who, when they hear any constructive criticism or attempted reform of our current dog-eat-dog system, have been conditioned to believe that the speaker is advocating for a different form of economics. This particular dynamic developed after WWII, when anything less than a wholehearted approval of capitalism subjected one to being irrationally accused of promoting communism or socialism.


Unfortunately, this attitude still widely exists among us, as shown by some of the comments left from time to time on our Better Capitalism social media pages. In blindly accepting the unsavory aspects of modern capitalism though, Christians neglect their duty as people of faith to call for the reform of a system that can be remarkably un-Christian in its execution.


How do we get back to a balanced view, one that allows us to pursue reform without being seen as subversive? The answer begins with the multi-audience conversation that Ken Barnes calls for above. A dialogue where economically like-minded people of all sorts come together and find mutually beneficial solutions could ignite genuine change. This kind of forum would allow for all sources of positive input, including that which is informed by a person's faith.


One goal of Better Capitalism is to facilitate that dialogue, whether it be through this blog, social media, one of our presentations, or in a one-on-one conversation. We invite all of you, and particularly leaders of every faith group who are interested in creating a better world, to join us.

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We at BetterCapitalism.org are fond of the phrase, “Questions are the engines of thought and action.” From that posture, and as our final question from this series:

  • Would you be willing to embrace and begin practicing an ethic of enough and an ethic of mutuality, as your personal first step toward helping create virtuous capitalism?

How might this question prod you to re-think your perspective of capitalism? How might this question and all the previous ones prod you to make different marketplace decisions?


We trust you have found these excerpts of Redeeming Capitalism beneficial. Beneficial enough to find and read a copy for yourself now. Again, we extend our great appreciation to Ken Barnes for graciously allowing us to share these excerpts with you.



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"This book merits close, sustained attention as a compelling move beyond both careless thinking and easy ideology."—Walter Brueggemann, Columbia Theological Seminary


"Better Capitalism is a sincere search for a better world."—Cato Institute

 



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