Global Economic Crisis -Theological Responses & Resources

Note: this content was originally curated by Arnold Neufeldt-Fast and is no longer being maintained. Some links may not work. Content posted for archival purposes only.

The following page makes available responses and resources from theologians and Christian ethicists to the global financial crisis beginning in 2008. Official responses from denominational bodies are also included. The financial crisis, and what precipitated it, cannot be fully described, analyzed and addressed with the tools of the economist alone; it will require deep ethical reflection. The resources below are an attempt to help inform this key dimension of the discussion. -Arnold Neufeldt-Fast, PhD

Responses by Christian Ethicists and Church Leadership

• Pontifical Council for Justice and Peace. "Towards Reforming the International Financial and Monetary Systems in the Context of Global Public Authority" (Oct. 2011); also Pope Benedict XVI. "Caritas in Veritate: On Integral Human Development in Charity and Truth." Encyclical Letter, June 29, 2009.
• Dorrien, Gary (Professor of Christian Ethics, Union Theological Seminary/ Columbia University). "An Alternative Model: Economic Democracy." Video lecture, March 27, 2009.
• Giuliano, David (Moderator, United Church of Canada). "Pastoral Letter on the Economy;" "Statement in Response to the Economic Crisis: Open Letter to Canadians" (Feb. 9, 2009; see also UCC Canada resource page: Economic Justice).
• McLaren, Brian. "Two Kinds of Economic Recovery," Sojourners Magazine, Feb. 10, 2009.
• Brueggemann, Walter. "From Anxiety and Greed, to Milk and Honey. Biblical faith invites us out of self-destruction toward God`s generosity and abundance," Sojourners Magazine, Feb. 4, 2009.
• Wallis, Jim. "An Open Letter to the Occupiers from a Veteran Troublemaker," Sojourners Magazine (Oct 13, 2011; see also posts tagged "Economics"); Davos: How will this effect us?, Sojourners Magazine, Jan 30, 2009; also Post for Jan 28, 2009.
• Clifford, Paula. "The Economic Crisis: A Global Perspective." Presented at "The Economic Crisis: Toward Sustainable Economies and Livelihoods. Conference of the Churches Together in Britain and Ireland, Jan 20, 2009." See other links to papers from this conference; also News On Poverty, Debt and the Financial Crisis: What are the Churches in Britain and Ireland doing and saying?
• Backer, Larry Catá. "Global Economic Collapse and the Search for Sources of Values in Economic Theory: The Role of Religion, a Catholic Perspective." Presented at the American Association of Law Schools Annual Meeting, Jan. 7, 2009.
• Williams, Rowan, Archbishop of Canterbury. "On the Financial Crisis" (Sept 27, 2008; also: "Knowing our Limits," in Crisis and Recovery: Ethics, Economics and Justice [Palgrave Macmillan, 2010], pp. 19-34).
• Palmer, Parker. "Repossessing Virtue: Parker Palmer on Economic Crisis, Morality and Meaning." Audio podcast. American Public Media (Dec. 11, 2008) MP3, 52:34 min.
• Marty, Martin. "Trust in Uncertain Times." Audio podcast. Speaking of Faith. MP3, 14:52 min.
• Cavanaugh, William. "Theology and Economy: Response" (author of Being Consumed: Economics and Christian Desire). Religion and Ethics Newsweekly (Oct 10, 2008). 
• Long, Steve. "Theology and Economy: Response" (author of Divine Economy: Theology and the Market). Religion and Ethics Newsweekly (Oct 10, 2008).
• Duchrow, Ulrich. "The Financial Crisis in Biblical and Theological Perspective" (Univ of Heidelberg; author of Alternatives to Global Capitalism Drawn from Biblical History)
• Boff, Leonardo. "Is the Worst Yet to Come?" (Nov 29, 2008; and also Oct 3, 2008)
• Cobb, John B. Jr. Can process theology contribute to our reflection about the crisis in the financial sector?, Oct. 2008 (Centre for Process Studies, Claremont School of Theology); see also older article, Moral Dilemmas in Economy and Ecology (1991).
• Green, Colin. "The Theology of the Financial Crisis," 3 parts, Mars Hill Graduate School, Seattle.
• Stevens, Scott. "Dishonest Money: What the Financial Crisis Tells Us About Ourselves." November 17, 2008 (Trinity Theological College, Australia).
• Campolo, Tony. "Energy, Consumption and the Economic Crisis," Sojourners Magazine, Oct. 15, 2008.
• Thistlethwaite, Susan Brooks. "God's Economics," Sept. 21, 2008; also "Den of Thieves," Sept. 16, 2008. Chicago Theological Seminary.
• Coggins, Jim. "The Economic Crisis: Part I, Crisis due to more than Greed, Part II, Fixing the Economic, Part III, What Should Christians and the Church be doing?," Christianity Today. 

• World Alliance of Reformed Churches. "Reformed Churches Back Radical Call for Global Economic Change" (Feb. 2, 2009); see background supporting study (2004), "The Accra Confession: Covenanting for Justice in the Economy and the Earth" (2004; important).
• Evangelical Alliance (UK). "Life Beyond Debt: Statement" (Feb. 5, 2009).
• Lutheran World Federation, Executive Committee. "Pastoral Message Concerning the Global Financial Crisis" (Oct 24-26, 2008).
• World Council of Churches. "Statement on just finance and the economy of life" (2009); "Statement on eco-justice and ecological debt" (2009); "Letter to G20 countries on the Global Economic and Financial Crisis"(March 27, 2009), Samuel Kobia, WCC General Secretary; "WCC work on Economic Globalization; World Social Forum Looks for Major Change in World Economy" (Rogate Mshana); see background paper, "AGAPE: Alternative Globalization Addressing Peoples and Earth" (2005). Also Samuel Kobia, WCC General Secretary,"Statement on the Global Financial Crisis,"  Nov 14, 2008.
• Canadian Baptist Ministries. "Articles on Overconsumption and the Financial Crisis."
• Evangelical Lutheran Church of America. "Background on the Mortgage-Financial Crisis" (Sept. 26, 2008).
• KAIROS: Canadian Ecumenical Justice Initiatives. "Moral Values as an Economic Stimulus-A KAIROS call for action" (Jan 26, 2009).
• World Vision. "Global Financial Crisis: Greater Need for HIV and Aids Assistance" (Dec 1, 2008).
• World Evangelical Alliance. "General Assembly Statement on the Economic Crisis" (Oct 25-30, 2008).
• Mennonite Church Canada. "Economic crisis may open door to SRI [Socially Responsible Investing]" (Oct 24, 2008).
• Evangelical Church in Hessen and Nassau, Germany. "Leben in Fuelle fuer alle: Zur Krise an den Finanzmaerkte;" other German Christian Press items (including Hans Küng, Wolfgang Huber [Lutheran Bishop & ethicist], etc.); also Zeitzeichen
• See links to the Canadian Christian Press.
• Theological Journals Search (theological journals for which full text is freely available on the Internet -- links to many very good articles on "global financial crisis").

News Items

• Government Consults UK Faith Leaders on Global Development Strategy, Ekklesia, March 19, 2009.
• Economists say Catholic ethics could benefit global economic policy, Catholic News Service, March 4, 2009 (new papal encyclical on the way ...).
• Moral Values as an Economic Stimulus — A KAIROS Call for Action. January 26, 2009.

Theology and Economics

• Barrera, Albino. Market Complicity and Christian Ethics. Cambridge, 2011; Economic Compulsion and Christian Ethics. Cambridge, 2005.
• Birch, Bruce C., and Larry L. Rasmussen. The Predicament of the Prosperous. Westminster John Knox, 1978.
• Cavanaugh, William T. "The Myth of Globalization as Catholicity." In: Theopolitical Imagination: Christian Practices of Space and Time. Continuum, 2002. Pp. 97-121 (See also A. Goddard's links to William Cavanaugh Resources).
• Childs, James M. Greed: Economics and Ethics in Conflict. Fortress, 2000.
• Claar, Victor V., and Robin J. Klay. Economics in Christian Perspective: Theory, Policy and Life Choices. InterVarsity, 2007.
• Daly, Herman E., John B. Cobb, and Clifford W. Cobb. For the Common Good: Redirecting the Economy Toward Community, the Environment, and a Sustainable Future. 2nd ed. Beacon, 1994.
• Dorrien, Gary J. Economy, Difference, Empire: Social Ethics for Social Justice. Colombia, 2010. "Failure of a Dream? Economic Democracy and the Economics of Nature." In: Soul in Society: The Making and Renewal of Social Christianity. Fortress, 1995. Ch. 6, pp. 282-365.
• Duchrow, Ulrich and Franz Josef Hinkelammert. Property for People, Not for Profit: Alternatives to the Global Tyranny of Capital. Catholic Institute for International Relations, 2004.
• Ekelund, Robert B., Robert F. Hébert, and Robert D. Tollison. Marketplace of Christianity. MIT Press, 2006 (full-text available to Tyndale students via eBrary).
• Fitzgerald, Valpy. "The Economics of Liberation Theology," in: The Cambridge Companion to Liberation Theology. Christopher Rowland, ed. 2nd edition. Cambridge, 2007. Ch. 12, pp. 248-264 (also 1st edition; full text available to Tyndale students).
• Haan, Roelf. The Economics of Honor: Biblical Reflections on Money and Property. Tr. Bert Hielema. Eerdmans, 2009.
• Hay, Donald A. Economics Today: A Christian Critique. Regent College, 2004.
• Hicks, Douglas, A., and Mark Valeri, eds. Global Neighbors: Christian Faith and Moral Obligation in Today's Economy. Eerdmans, 2008.
• Jones, David W. Reforming the Morality of Usury: A Study of Differences that Separated the Protestant Reformers. University Press of America, 2004.
• Küng, Hans. A Global Ethic for Global Politics and Economics. Oxford University, 1998.
• Long, D. Stephen. Divine Economy: Theology and the Market. Routledge, 2000 (see also copy 1, copy 2).
• Long, D. Stephen, Nancy Ruth Fox, and Tripp York. Calculated Futures: Theology, Ethics, and Economics. Baylor, 2007.
• McFague, Sallie. Life Abundant: Rethinking Theology and Economy for a Planet in Peril. Fortress, 2001.
• Meeks, M. Douglas. God the Economist: The Doctrine of God and Political Economy. Fortress, 1989; "The Economy of Grace and the Market Logic," World Council of Churches (pdf). Pp. 18.
• Miller, Vincent J. Consuming Religion: Christian Faith and Practice in a Consumer Culture. Continuum, 2005.
• Moe-Lobeda, Cynthia D. Healing a Broken World: Globalization and God. Fortress, 2002.
• Ray, Darby Kathleen, ed. Theology that Matters: Ecology, Economy, and God. Fortress, 2006.
• Rieger, Joerg. No Rising Tide: Theology, Economics and the Future. Fortress, 2009; (Ed.) Liberating the Future: God, Mammon, and Theology. Fortress, 1998.
• Schlossberg, Herbert, Vinay Samuel, and Ronald J. Sider. Christianity and Economics in the Post-cold War Era: The Oxford Declaration and Beyond. Eerdmans, 1994.
• Schweiker, William, and Charles T. Mathewes, eds. Having: Property and Possession in Religious and Social Life. Eerdmans, 2004.
• Sedgwick, Peter H. The Market Economy and Christian Ethics. Cambridge, 1999 (full text available for Tyndale students over NetLibrary).
• Sider, Ronald J., and Stephen Mott. "Economic Justice: A Biblical Paradigm." In: Beyond Integrity: A Judeo-Christian Approach to Business Ethics. Scott B. Rae, Kenman L. Wong, eds. Zondervan, 2004. Pp. 180-204.
• Stackhouse, Max, Dennis P. McCann, Shirley J. Roels, Preston N. Williams.On Moral Business: Classical and Contemporary Resources for Ethics in Economic Life. Eerdmans, 1995.
• Stapleford, John E. Bulls, Bears & Golden Calves: Applying Christian Ethics in Economics. InterVarsity, 2002.
• Taylor, Mark C. Confidence Games: Money and Markets in a World Without Redemption. University of Chicago, 2004 (and copy).
• Todd Peters, Rebecca. In Search of the Good Life: the Ethics of Globalization. Continuum, 2004.
• Van Til, Kent A. Less Than Two Dollars a Day: A Christian View of World Poverty and the Free Market. Eerdmans, 2007.
• Verhey, Allen. "Remembering Jesus in the World of Adam Smith: A Continuing Tradition of Justice and Generosity." In: Remembering Jesus: Christian Community, Scripture, and the Moral Life. Eerdmans Publishing, 2002. Part 4, pp. 241-332 (also copy 1 and copy 2).
• Wariboko, Nimi. God and Money: A Theology of Money in a Globalizing World. Lexington, 2011.
• Wheeler, Sondra Ely. Wealth as Peril and Obligation: The New Testament on Possessions. Eerdmans, 1995.
• Yoder, John H. "The Church and Economics after Christendom: Brief Theological Considerations," The Mennonite, May 5, 2009. Tr. Arnold Neufeldt-Fast.

Theology of Work

• Banks, Robert J., and R. Paul Stevens. The Marketplace Ministry Handbook: A Manual for Work, Money and Business. Regent College, 2005.
• Charry, Ellen T., ed. "Enquiring After God When Working." In: Inquiring After God: Classic and Contemporary Readings. Wiley-Blackwell, 2000. Ch. 4, pp. 81-107.
• Hammett, Edward H. The Gathered and Scattered Church: Equipping Believers for the 21st Century. Smyth & Helwys, 1999.
• Hammond, Pete, R. Paul Stevens, Todd Svanoe. The Marketplace Annotated Bibliography: A Christian Guide to Books on Work, Business & Vocation. InterVarsity Press, 2002.
• Larive, Armand. After Sunday: A Theology of Work. Continuum, 2004.
• Meireis, Torsten. Tätigkeit und Erfüllung: Protestantische Ethik im Umbruch der Arbeitsgesellschaft. Mohr Siebeck, 2008.
• Miller, David W. God at Work: The History and Promise of the Faith at Work Movement. Oxford, 2007.
• Spears, Larry C., and Michele Lawrence, eds. Focus on Leadership: Servant-Leadership for the Twenty-First Century. Wiley and Sons, 2001.
• Stevens, R. Paul. Doing God`s Business: Meaning and Motivation for the Marketplace. Eerdmans, 2006; The Other Six Days: Vocation, Work, and Ministry in Biblical Perspective. Eerdmans, 2000.

Other Sources

• See Tyndale's Christian Ethics -Resources page
• UN Millennium Development Goals, with resources from World Vision; cf. also Micah Challenge International; also 2008 State of the World Food Insecurity Report; also ChristianWeek.Org
• Global Economic Justice, Mennonite Central Committee (with resources for Bible studies, worship, etc.); also Globalization of the Economy: Resource List, Mennonite Church Canada
• Canadian Council of Churches, Commission on Justice and Peace. North American Churches Consultation on Globalization: Discussion Paper, 2003.
• Journal of Markets and Morality (Acton Institute)

Other Sources in the WWW

• National Roundtable on the Environment and the Economy (Canada)
• Principles for Global Corporate Responsibility (Cdn Partner: Taskforce on the Churches and Corporate Responsibility)
• "Show Me The Money": Linking Environmental, Social and Governance Issues to Company Value, Report by the United Nations Environment Program`s Finance Initiative Asset Management Working Group, 2006
• Margaret Atwood, "Debt and the Shadow side of Wealth" (Series: 5 CBC Radio Podcasts, 2008 Massey Lectures)
• The Sacred Mystery of Capital, Julian Gough (August 2008)
• Neoliberal Globalization: A Casus Confessionis?, Guillermo Hansen (2007)
• Maybe we should blame God for the Subprime Mess (Time, Oct 3, 2008, on the Prosperity Gospel)