Theo 496 Senior Seminar Session 6: A Christian View of Money, pt. 1 Page 1 Rev. Jacquelyn E. Winston, Ph.D.

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1 Theo 496 Senior Seminar Session 6: A Christian View of Money, pt. 1 Page 1 Reading assignment: Verhey I. A Christian view of Money A. Christian view of money influences: 1. The formation of character 2. The formation of community (244) 3. The need to recognize biblical society was not capitalist. B. Capitalism and its influence on modern worldview 1. Adam Smith (Wealth of Nations) 18 th c. father of political economy shaped American economic views. Basic premises: a. Economic self-interest 1) Ethical egoism ethical approach that is concerned with one s own self-interest (Wilkens 46). Ayn Rand viewed the benefit of selfinterest as enhancing individuals and their choices (Wilkens 50) because it allows them to define their interests and pursue them. 2) Ethical egoism rejects the idea of distinterested or altruistic love for Rand all altruism flows out of self-interest (Wilkens 51) b. Relies on free market to direct self-interested economic activity for society s benefit (Verhey 244). c. Free individuals exploit commercial opportunities, develop industry leading to increase of wealth for the entire society (Verhey 245). d. Based on Enlightenment thought and reasoning the value of the individual and of reason to negotiate all aspects of life, replacing ideals with real-life circumstances of inequity and sin. Smith s objective and impartial observations of the economic order assumes an equitable context in which fair market principles operate (Verhey 245). It ignores the issue of powerlessness and injustice. C. Premodernist views of economics: 1. Feudalism Lords paternalistic control of wealth and power. 2. Rise of the merchant class (replacing nobility) emphasizing values of industry and thrift and role of the individual. Influenced by Calvin s view of vocation, later adopted by Puritans (Puritan ethic) (246). 3. Luther Two Kingdoms dual allegiance and submission to spiritual kingdom and earthly political kingdom.

2 Theo 496 Senior Seminar Session 6: A Christian View of Money, pt. 1 Page 2 4. Smith s ideology of the free market arose in context of explosion of inventions and significant colonial explorations instilled idea of invincibility of human ability (positive view of humans) (246). D. Reactions to the Modernist perspective of Economics 1. Karl Marx rejected idea of an invisible hand of the market (247) a. Believed free market gave rise to inequity and exploitation of workers. b. Believed in eventual uprising of working in conjunction with historical dialectic (the conflict of opposing ideas) would give rise to communal society. 2. Contradictions of capitalism conspicuous consumption and grinding poverty. 3. Capitalism creates vulgar consumer culture (247) 4. Robert Benne believes excesses of capitalism are best controlled by free individuals in a free market world (247). 5. Weaknesses of the free market views of Smith, Benne, and Novak - a. Allows temporary suppression of moral qualms that might inhibit the generation of wealth (248) b. Modern supporter of free market ideals Milton Friedman who defends pursuit of profit against government regulation (248). Says only social responsibility of business is to use it resources to increase profits. E. Contrasting view of Jesus toward money Parable of the rich man and his barns (Luke 12:16-20) 1. Jesus calls for subversive view of money and its impact on the community and character (249). 2. Modernist (impartial or universal views of justice that impede a biblical view of money: a. John Rawls justice understood in context of maximum freedom and presumptive equality. Believed that inequalities needed to be managed so that it benefited the least advantaged and that equality of opportunity needed to be made available to all (250) b. Robert Nozick justice understood in context of historical entitlement. Nozick emphasizes the role of individual choice and their rights to distribute what they produce in the manner they wish.

3 Theo 496 Senior Seminar Session 6: A Christian View of Money, pt. 1 Page 3 c. Problem: Neither of these views provide a context for forming character other than enlightened self-interest, nor do they nurture community other than attempts to balance self-interest of individuals (251). F. Biblical Economic World 1. Agrarian mutually dependent on community 2. Focus on increasing wealth in agrarian society not production but control of the land 3. Economic world of Jesus tied to conflicting ways of life and social worlds (254) including patronage of Roman society; peasant farmer with ties to family and land; and Jewish religion with temple and Torah. 4. Patron-client relationships a. Reciprocity mutual giving and receiving of favors, reciprocal relationships (255). b. Unstable possible to have wealth but not power (access) c. One type of patronage relationship in Israel moneylending not just source of money, but control or access to power as creditors bound their clients to them by debt (255) d. Land was source of wealth but not always power. 5. Peasant farmers - a. Far from access to wealth or power, but closest to the land (256) b. Tied to family in bonds of kinship and loyalty in family and clan. Extended family important as unit of production and consumption. c. Economic world based on subsistence gaining what was needed for family to function and to meet social and religious requirements (256). d. Economic failure wouldn t just lead to starvation but also loss of standing in community. e. Focus on subsistence concerns of peasants loses sight of their attempts at social criticism and resistance. It also emphasizes their need at times to ignore others on the margin of poverty in attempt to stave off their own poverty. 6. Temple and Torah 257 a. Priestly aristocracy capitalized on their relationship to the temple. They acted as patrons and maintained control of temple treasury (257). Controlled receipt of tithes.

4 Theo 496 Senior Seminar Session 6: A Christian View of Money, pt. 1 Page 4 b. Scribes also served on Sanhedrin (Council) access to power. c. Pharisees democratized observance of the law (258) and formed society within society in small fellowships. Their strictness limited social requirements of hospitality and table fellowship (allowing $ for parents to be given to the temple instead; prohibiting dining with people of certain classes or occupations) 258 G. Old Testament Covenant Codes included statutes to protect stranger, free slaves, care for widows and orphans (Ex. 22:21; 23:9; 22:22-24; 23:6-8, 10-11, 12) and to protect debtors (Ex. 22:25-27) 260 H. Kingdom economics under David taxation and conscription arose and prosperity was unequal. Poor suffered under taxation and powerlessness 260. I. Josiah s reform in the Deuteronomic Code based on urban culture and monarchy, called for sacrifices at single sanctuary, and provided statues for conduct and character of kings, called for freeing of male and female slaves on sabbatical year (Deut. 15:12). Sabbatical year set to leave land fallow and allow poor to eat from it and remission of debts (Ex. 23:10-11; Deut. 15:1-11). Called for judicial reforms and consumer protection, regulated lending practices, and distribution of food to the poor 261. J. Economic views during the age of Jesus: 1. Cynic philosophers simple lifestyle, but not hermits. Challenged conventional thinking, choice to live according to nature Jesus chose to live an itinerant life that spoke against those who used power for self-enrichment at expense of others. Jesus neither glorified poverty or wealth Use of the Lord s Prayer to understand nature of social & economic relations in New Testament world: a. To invoke God as Father implies request for his provision and recognizes dependence and trust as was common in society for all living under household of the pater familias (servants, children, extended family) 265. b. Verhey to invoke God as Father also implies sense of responsibility to share resources with all of God s children, rejecting failure to share on basis of social understanding of kinship obligations c. Verhey emphasis on asking for bread points to the future expectations of the kingdom of God and a manna economy where there is no hoarding and no one goes hungry, represented by a community of sharing 267.

5 Theo 496 Senior Seminar Session 6: A Christian View of Money, pt. 1 Page 5 For Further Reading: d. Verhey links the forgiveness of sins with the forgiveness of debts which built on the memory of the Jubilee. Jubilee required changes in economic world including restoration of poor and those on the margins of economic world to full participation in the life of the community 268. e. Verhey s point in analyzing Lord s Prayer it is both eschatological and economic, forming a way of life for being in this world that emphasizes God s good future Jesus wisdom stressing trust of the Father seemed foolish in context of the economic NT world shaped by patronage and peasants dependent on those in power 270. Results: a. Trust in God for provision b. Give generously to the poor. c. The call to give alms is not a law from Jesus 271. He is forming character to give joyfully 272. d. Significance of Jesus words you always have the poor with you (Mt. 26:11, Mk 14:7; Jn. 12:8) was not intended as justification to ignore needs of poor, but rather was emphasis on the priority of worship of Jesus in that specific circumstance 273. He was rebuking disciples for singling out the woman who ministered to him 274. Concern for poor should be part of the church s agenda as they watch for God s sovereignty. Meeks, Wayne A. The Moral World of the First Christians. Philadelphia: Westminster Press, Moxnes, Halvor. The Economy of the Kingdom. Philadelphia: Fortress Press, Ringe, Sharon. Jesus, Liberation, and the Biblical Jubilee. Philadelphia: Fortress Press, Sider, Ronald J. Rich Christians in an Age of Hunger. Dallas: World Publishing, 1997, Smith, Adam. An inquiry into the nature and causes of the wealth of nations. Washington, D.C.: Regnery Publishing, 1998, c1896. Snyder, Howard A. Liberating the Church. Downers Grove, IL: Intervarsity Press, 1983, 37-67, Verhey, Allen. Remembering Jesus: Christian Community, Scripture, and the Moral Life. Grand Rapids, MI, Wilkens, Steven. Beyond bumper sticker ethics : An introduction to theories of right & wrong. Downers Grove, Ill: InterVarsity Press, Yoder, John Howard. The Politics of Jesus: Vicit Agnus Noster, Second Edition. Grand Rapids, MI: Eerdmans Publishing, 1994.