Business & Economy

Capitalism, Religion and the Economics of the Biblical Jubilee

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Paul Williams

Is capitalism a neutral force? If not, then how are we best to think about solutions to the problems that emerge within in? In this paper prepared for the GCGI conference Williams argues that capitalism is in fact an ideology and as such carries with it some problematic assumptions—namely that it claims moral neutrality and that there is an absence of alternative approaches to it. Williams argues that these assumptions do not stand upon further scrutiny and that removing these assumptions is an important first step towards correcting many of the issues we face today. Williams then proceeds to use the Bible’s account of the Jubilee as a source of alternative market-based mechanisms that could be helpful in addressing many of the problems faced in today’s economic climate without defaulting to increased state intervention.

Source: GCGI (Globalisation for the Common Good Initiative)

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