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The crisis and the kingdom : economics, Scripture, and the global financial crisis

Author: E P Davis
Publisher: Eugene, Or. : Cascade Books, ©2012.
Edition/Format:   Print book : EnglishView all editions and formats
Database:WorldCat
Summary:
The ongoing global financial crisis was not simply the fault of the financial sector. Bankers, households, and governments had all entered a spiral of greed, selfishness, and impatience in pursuit of their respective aims of higher remuneration, greater consumption, and enhanced popularity. The outcome, besides costly bank bailouts, has been rising private and public debt and stagnant economies. Economics, the  Read more...
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Document Type: Book
All Authors / Contributors: E P Davis
ISBN: 161097476X 9781610974769
OCLC Number: 773015472
Description: xxx, 127 pages ; 23 cm
Contents: Events of the financial crisis --
Comparing the view of humankind from economics and theology --
The financial sector : incentives to underestimate risks --
The household sector : private debt --
The government sector : public debt --
Conclusions and recommendations --
Appendix 1. Generic aspects of financial instability and the financial crisis --
Appendix 2. Why banks are fragile and need regulation.
Responsibility: E. Philip Davis.

Abstract:

The ongoing global financial crisis was not simply the fault of the financial sector. Bankers, households, and governments had all entered a spiral of greed, selfishness, and impatience in pursuit of their respective aims of higher remuneration, greater consumption, and enhanced popularity. The outcome, besides costly bank bailouts, has been rising private and public debt and stagnant economies. Economics, the ruling paradigm in today's society, can explain their motivation of self-interest but not the underlying irrationality of their behavior. Taking a view from Scripture, Philip Davis critiques the overall aims of individuals, as assumed by economics -- wealth, consumption, and power -- in contrast to Jesus' proclamation of the kingdom of God, the love for God and neighbor, and responsible stewardship of resources. In doing so, he aims to equip Christians to better understand the crisis from a kingdom perspective, to provide the church with a distinctive voice in these troubled times, and to press for radical Christian solutions to address the underlying difficulties. This little book aims to redress the gap in Christians' understanding that led the theologian Jürgen Moltmann to remark trenchantly, 'The neglect of economics is a wound in the side of the church.'

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