Christianity and Economics

As Americans begin to dismantle the safety net of the New Deal era, the most popular version of the culture wars' thesis paints an arguably cosmic battle between defenders of religious orthodoxy who embrace laissez-faire capitalism and secular elites who have imposed a Marxist welfare state upon an unsuspecting populace. Walsh shows that this thesis ignores the role of religious leaders in legitimizing the types of programs embodied in America's approach to the welfare state.

This book discusses how theology and the American corporation as an institution are intertwined.

This collection of all new essays by leading historians offers a close look at the connections between American Protestants and money in the Antebellum period. During the first decades of the new American nation, money was everywhere on the minds of church leaders and many of their followers. Economic questions figured regularly in preaching and pamphleteering, and they contributed greatly to perceptions of morality both public and private. In fact, money was always a religious question. For this reason, argue the authors of these essays, it is impossible to understand broader cultural developments of the period--including political developments--without considering religion and economics together. In God and Mammon, several essays examine the ways in which the churches raised money after the end of establishment put a stop to state funding, such as the collection of pew rents, lotteries, and free-will offerings, which only came later and at first were used only for benevolent purposes. Other essays look at the role of money and markets in the rise of Christian voluntary societies. Still others examine the inter-denominational strife, documenting frequent accusations that theological error led to the misuse of money and the arrogance of wealth. Taken together, the essays provide essential background to an issue that continues to loom large and generate controversy in the Protestant community in America.

Without meaning to be irreverent, it is fair to say that in the Middle Ages, at the height of its political and economic power, the Roman Catholic Church functioned in part as a powerful and sophisticated corporation. The Church dealt in a "product" many consumers felt they had to have: the salvation of their immortal souls. The Pope served as its CEO, the College of Cardinals as its board of directors, bishoprics and monasteries as its franchises. And while the Church certainly had moral and social goals, this early antecedent to AT&T and General Motors had economic motives and methods as well, seeking to maximize profits by eliminating competitors and extending its markets. In Sacred Trust: The Medieval Church as an Economic Firm, five highly respected economists advance the controversial argument that the story of the Roman Catholic Church in the Middle Ages is in large part a story of supply and demand. Without denying the centrality--or sincerity--of religious motives, the authors employ the tools of modern economics to analyze how the Church's objectives went well beyond the realm of the spiritual. They explore the myriad sources of the Church's wealth, including tithes and land rents, donations and bequests, judicial services and monastic agricultural production. And they present an in-depth look at the ways in which Church principles on marriage, usury, and crusade were revised as necessary to meet--and in many ways to create--the needs of a vast body of consumers. Along the way, the book raises and answers many intriguing questions. The authors explore the reasons behind the great crusades against the Moslems, probing beyond motives of pure idealism to highlight the Church's concern with revenues from tourism and the sale of relics threatened by Moslem encroachment in the holy lands. They examine the Church's involvement in the marriage market, revealing how the clergy filled their coffers by extracting fees for blessing or dissolving marital unions, for hearing marital disputes, and even for granting permission for blood relatives to wed. And they shed light on the concept of purgatory, showing how this "product innovation" developed by the Church in the twelfth century--a form of "deferred payment"--opened the floodgates for a fresh market in post-mortem atonement through payments on behalf of the deceased. Finally, the authors show how the cumulative costs that the faithful were asked to bear eventually priced the Roman Catholic church out of the market, paving the way for Protestant reformers like Martin Luther. A ground-breaking look at the growth and decline of the medieval Church, Sacred Trust demonstrates how economic reasoning can be used to cast light on the behavior of any complex historical institution. It offers rare insight into one of the great historical powers of Western civilization, in a analysis that will intrigue anyone interested in life in the Middle Ages, in church history, or in the influence of economic motives on historical events.

In this study of the British upper and middle classes during the first half of the 19th century, Boyd Hilton reveals that the people of this age were obsessed with catastrophe: wars, famines, pestilences, revolutions, floods, volcanoes, and the great commercial upheavals which periodically threatened to topple the world's first capitalist system. The dominant evangelical sentiment of the day interpreted such sufferings as part of God's plan and, not wanting to interfere with the dispensations of providence, governments took a harsh, stand-on-your-own-feet attitude towards social underdogs, whether they were bankrupts or paupers. In this work, Hilton studies how the transformation of religious thought--including new ideas about the nature of God and the Atonement--affected the economics, philosophy, science, and politics of the period.