Introduction to Ethics - Economics, Wealth and Poverty

Sean Doherty

- 9 minutes read - 1710 words

This session will introduce foundational biblical material and theological concepts for engagement with economic ethical questions and will aim to equip students to consider how Christians and churches should respond to wealth and poverty, and which economic system, if any, is most compatible with Christian teaching.

Suggested Preparatory Reading

  • DOHERTY, Sean, ‘Money’, in Living Witness: Explorations in Missional Ethics. Leicester: Apollos, 2012. Pages 240-257. Or:

  • LUTHER, Martin, On Trade and Usury [1524]. The whole text is in Luther’s Works volume 45, trans. Charles Jacobs, ed. Walther I Brandt, pp. 233-310, but the full text is also online here.

General

Further Reading on the question of lending money at interest

(What follows is a deliberately long list of particular use for those choosing the essay on this subject)

Some classic texts:

Some more recent items:

More technical studies if you have time and interest (no pun intended):

  • DOHERTY, Sean, Theology and Economic Ethics: Martin Luther and Arthur Rich in Dialogue. Oxford: Oxford University Press, 2014, especially sections in Chapter 1 and Conclusion.

  • NOONAN, John T., The Scholastic Analysis of Usury (Cambridge, MA: Harvard University Press, 1957).

Further reading on Christianity and capitalism/socialism

(What follows is a list of particular use for those choosing the essay on this subject)

  • BELL, Daniel M, Jr, ‘What is Wrong with Capitalism? The Problem with the Problem with Capitalism’, The Other Journal (May 2005), pp. 1-7.

  • BLANCHARD, Kathryn, The Protestant Ethic or the Spirit of Capitalism: Christians, Freedom, and Free Markets (Cascade Books, 2010).

  • CARTER, Edward, ‘Resurrection and Economics’, Association of Christian Economists Journal, October 2005.

  • GREGSON, Fiona J R, Everything in Common? The Theology and Practice of the Sharing of Possessions in Community in the New Testament. Eugene, OR: Pickwick Publications, 2017.

  • GRUDEM, Wayne, Business for the Glory of God: The Bible’s Teaching on the Moral Goodness of Business. Wheaton: Crossway, 2003. See also Part 6 of his longer and more recent, Christian Ethics: An Introduction to Biblical Moral Reasoning (Crossway, 2018).

  • KIDWELL, J. and Sean Doherty, Theology and Economics: A Christian Vision of the Common Good. New York: Palgrave Macmillan, 2015. Especially chapters 1, 2, 9, 13.

  • LONG, D Stephen, Divine Economy: Theology and the Market. London: Routledge, 2000.

  • HAY, Donald, Economics Today: A Christian Critique. Leicester: Apollos 1989, chs. 4 & 5.

  • HICKEL, Jason, The Divide: A Brief Guide to Global Inequality and its Solutions. London: William Heinemann, 2017. (Not on Perlego, but some of his more recent publications are.)

  • HIRSCHFELD, Mary, Aquinas and the Market: Toward a Humane Economy. Cambridge, MS: Harvard University Press, 2018.

  • MILLS, Paul, ‘The Divine Economy,’ Cambridge Papers 9.4 (2000).

  • PICKETT, Kate, and Richard Wilkinson, The Spirit Level: Why Equality is Better for Everyone. London: Penguin, 2010. (See also Wilkinson’s book, The Impact of Inequality: How to Make Sick Societies Healthier. London, Routledge, 2005.) See also the work of their Foundation, the Equality Trust.

  • POOLE, Eve, Capitalism’s Toxic Assumptions: Redefining Next Generation Economics. London: Bloomsbury, 2015.

  • SMITH, Adam, The Wealth of Nations [1776. New York: Bantam, 2003].

  • TANNER, Kathryn, Economy of Grace. Minneapolis: Fortress, 2005.

  • TANNER, Kathryn, Christianity and the New Spirit of Capitalism. New Haven, CT: Yale University Press, 2019.

Further Reading on Wealth and Poverty

  • BLOMBERG, Craig, Christians in an Age of Wealth: A Biblical Theology of Stewardship (Grand Rapids: Zondervan, 2013).

  • HOPPE, Leslie J, There Shall Be No Poor Among You: Poverty in the Bible. Nashville: Abingdon, 2004.

  • JOHNSON, Kelly S. 'Interceding: Poverty and Prayer' in Blackwell Companion to Christian Ethics. Oxford: Blackwell, 2011.

  • KUNHIYOP, Samuel Waje, African Christian Ethics (Nairobi, Bukuru & Grand Rapids: Hippo Books, an imprint of WordAlive, ACTS and Zondervan, 2008), chapter 10.

  • MILANOVIC, Branko, Worlds Apart: Measuring International and Global Inequality. Princeton University Press, 2011. See also his more recent book here.

  • MYERS, Bryant L, Walking with the Poor: Principles and Practices of Transformational Development (Revised and Expanded Edition). Maryland: Orbis Books, 2011. See also his more recent, Engaging Globalization: The Poor, Christian Mission, and Our Hyperconnected World on Perlego.

  • SINGER, Peter, The Life You Can Save: Acting Now to End World Poverty. New York: Random House, 2009. See also his more recent The Most Good You Can Do: How Effective Altruism Is Changing Ideas About Living Ethically on Perlego.

  • Hub: THACKER, Justin, Global Poverty: A Theological Guide. London: SCM, 2017.

Session 5

Session 5 slides

Introduction to Christian Ethics – Session 5 Economics, Wealth and Poverty

Biblical and theological foundations

Old Testament

Creation and Fall

  • Genesis 1:28-31: God’s provision and abundance

  • 2:15 – work = good, natural, worthwhile

  • 3:17-19 – after Fall, work no longer easy but burdensome toil for minimal return

  • yet God’s continued provision in the fallen world (3:21, 9:1-3)

Tradition: John Chrysostom on the origin of poverty:

  • The benevolence of God and the abundance of the garden

  • Poverty is rarely blamed on the poor in Scripture

  • Poverty is not spiritual or praiseworthy in Scripture

The Law

  • property and profit are defended by law (e.g. Exodus 20)

    • so: incentives for hard work and expertise on a small scale

  • Jubilee legislation

    • limits accumulation of wealth and therefore inequality

    • safety net: ensures all retain means to provide for themselves/their families

  • Redistribution of wealth to poor through personal giving AND socio-political institutions e.g., tithes

  • Economic growth only permitted within limits (e.g. Sabbath, Jubilee)

  • Interest/usury forbidden between Israelites

So: neither capitalist nor communist

The Wisdom tradition: ‘Natural theology’

Observes consequences, but not a systematic picture.

  • Capitalism endorsed in Proverbs?

    • hard work yields legitimate profit (Proverbs 13:4, 21:5)

    • God rewards with prosperity and success (Proverbs 11:25, 13:22, 15:6, 28:27)

    • laziness leads to poverty (Proverbs 6:9-11, 10:4, 20:13)

  • But:

    • profits must never be made through unjust means (11:1, 15:26, 28:8)

    • material prosperity must be shared with the needy (11:24-25, 19:17)

    • focus and trust must be on God and not riches

    • opposition to luxuries and self-indulgence which distract from God (25:16)

    • ‘give me neither poverty nor riches, but only my daily bread’ (30:7-9)

  • The tradition corrects itself: the innocent do suffer, the wicked do prosper (Job, Ecclesiastes, cf. John 8:2-3)

So: neither capitalist nor communist

New Testament

Jesus

  • enjoyment of good creation: ‘a glutton and wine-bibber’

  • abundance not scarcity

  • divine provision of essentials by a loving heavenly Abba (Matthew 6:25-34)

    • rules out anxiety and saving (6:19-21, 25)

  • relinquishing material goods is compulsory (Matthew 5:40-42, Luke 6:29-30)

    • permitting someone to take what it yours (Matthew 5:40, Luke 6:29-30)

    • giving to whoever who asks and lending wo expecting anything in return (Matthew 5:41-2, Luke 6:30, 35)

    • basic posture of not holding on which shows who you serve (Matthew 6:24)

Tradition: Aquinas on giving:

  • How much should one give away?

  • Has a crime been committed if someone in extreme need takes another’s property?

Practical guidance in the teaching of Jesus for economic life:

  • The Golden Rule(s): ‘do to others as you would have them do to you’ (Luke 6:31); ‘love your neighbour as yourself’ (Leviticus 19:18, quoted Mark 12:31 and parallels)

    • would I be equally happy if I were in the other person’s place? → just price/wages

    • GR = placing others above ourselves rather than a mandate for self-interest

  • The good Samaritan (Luke 10:25-37)

    • neighbour love includes responsibility to assist those in need

    • not just directly harming someone, but neglecting them is culpable,

Life in the Kingdom as portrayed in Luke-Acts

  • Reaffirmation and fulfilment of the Jubilee promises (Luke 4, cf. Isaiah 61)

    • Being rich in itself seems a reason to be punished by God (the Magnificat: Luke 1:53, Beatitutudes and woes: 6:24-25, Rich man and Lazarus, Luke 16)

  • Absolute renunciation: 14:33

  • Voluntary ‘communism’ of the early church?

Tradition: Martin Luther on why the rich cannot be saved:

  • Handling of possessions discloses level of trust in God (i.e. faith)

    • if God is trusted as caring guardian, you can be free with your goods

    • if you do not trust God to look after you in this life, you cannot be trusting him to save you in the next

  • Thus faith (=trust) that sets you free to handle worldly goods correctly

  • Correspondingly, holding possessions feeds unbelief, and giving away money will strengthen your faith

Life in the Kingdom as portrayed by Paul

  • Importance to God of equality (2 Corinthians 8:13-14)

  • Work as good in itself, done for God (Colossians 3:23-24)

  • Work is compulsory: good to support yourself (2 Thessalonians 3:6-13)

  • Yet purpose of work is also so that you can assist those in need (Ephesians 4:28)

Some ways to respond

  • Act justly e.g. living wage and just price, advocacy. Use the power you do have.

  • Love mercy – alleviate consequences. Reckless generosity.

  • Walk humbly – relationship not just action. Recognise global connections, our privilege, and equality of all.