Spirituality For Life
Page: Contemporary Economic Model

Home
What is Spirituality?
Aspects of Spirituality
Spiritual Practices
Theology / Spirituality
Misc. Topics
Reflections
Contact Us


The Contemporary Economic Model and Worldview

Economics Today 

 

McFague, a theologian, is concerned with the links between religion, science, and ecology. She discusses the rise and impact of market economies, the rise of individualism and the consumer, and the challenge of global justice. (Excerpts have been taken from McFague’s material and sometimes adapted in these notes.)  

 

At its base, economics is simple: it is about dividing up whatever is scarce among competing uses and users. Economics is not just about money – it is present wherever and whenever scarcity exists. More fundamentally, economics is about decisions concerning scarcity from the perspective of a number of values, one of which is money. 

 

Neo-classical economics is the market capitalism as conceived by Adam Smith in the eighteenth century and, more particularly, the version of it practiced by the major economies of our time. The key feature of market capitalism is the allocation of scarce resources by means of decentralized markets. 

 

At the base of neo-classical economics is an anthropology: human beings are individuals motivated by self-interest. The value by which scarce resources are allocated, then, is he fulfilment of the self-interest of human beings. The argument is that freely acting, acquisitive individuals will eventually, though not intentionally, work out the best solution for production and consumption in a society. 

 

Neo-classical economics has one value: the monetary fulfilment of individuals provided they compete successfully for the resources. As long as the economy grows, all individuals in a society will sooner or later participate in prosperity. The view of human nature is individualism and our goal is growth

 

The anthropology, mentioned above, rests on the Enlightenment’s central insight: the importance of the individual. Behind this anthropology lies an accompanying view of the world as a machine with many parts. The scientific revolution of the 17th century had overthrown the medieval view of the world as an organism with interrelated members. The world, then, like a machine, was an object (not a subject), dead (not alive), with all its parts connected only in external ways (as are the separate parts of a watch). 

 

Two other key values are not part of neo-classical economics: (1) the just distribution of profits from the earth’s resources, and (2) the ability of the planet to sustain our use of its resources. 

 

In sum, then, in the neo-classical economic worldview, two values predominate – the individual and growth, or perhaps it is more accurate to see just one value: the satisfaction of the desires of individuals through the means of constant growth. This worldview recognizes no limits, neither for individuals nor the planet’s resources. 

 

Interestingly, religion, political science, and economics all come together to create an image of human life, and our place in the world, as focused on personal acquisition. Religion contributed the notion of the sacredness of the individual; political science contributed “the rights of man”, summarized in the motto “life, liberty, and the pursuit of happiness”. 

 

The supremacy of the neo-classical economic worldview has led some to describe it as a religion – “consumerism” – the civic religion that we all share, regardless of other faith commitments we might have.  

 

Consumerism is a systemic phenomenon, deeply embedded in every political and economic structure in the world. In present-day culture, the world is defined largely as a “trade market” – this is the most common metaphor for it. This trade market has five major players: (1) production, (2) advertisers, (3) the media, (4) national governments, and (5) trans-national corporations. The complexity, breadth and depth, power and influence, of this worldwide phenomenon is breathtaking and beyond imagination; its goal, however, is simple: to create customers for products. 

 

Some questions, however, arise: 

 

1.  Is the consumer life the "good life"? Does the buying and owning of many possessions bring happiness, and is happiness the proper goal of life? 

 

2.  Can the “good life” be had by all? We cannot all consume more; the planet cannot support six billion (or more) people living a Western lifestyle. Issues of justice, fairness, and obligation, however, hover beneath the surface. 

 

3.  Is the “good life” good for planet Earth? The state of the planet at the beginning of the new millennium, is far different than simply the loss of non-renewable resources. In fact, that problem is of less importance than two other related ones: the rate of loss and decay of renewable resources and the manner in which these losses overlap and support further deterioration. 

 

Unfortunately, we enjoy the consumer lifestyle; in fact, most of us are addicted to it, and, like addicts, we cheerfully stay in denial if possible. But, we need to overcome this denial. 

 

Source: Sallie McFague, “The Contemporary Economic Model and Worldview”, in Life Abundant: Rethinking Theology and Economy for a Planet in Peril (Minneapolis: Fortress, 2000), 75-93.

Photo credit: Intellimon Ltd. 


Home
Spirituality for Life
Interfaith Spirituality
Underlying Premises
Namaste
What is Spirituality?
Christian Spirituality
Spirituality and Human Existence
A Broader View of Spirituality
Descriptions of Spirituality
Reaching One's Potential
Authentic Christian Spirituality
What Is Christian Spirituality
Three Elements of Spirituality
Spirituality and Religion
Community Aspect of Spirituality
The Cycle of Spirituality
Aspects of Spirituality
Acceptance
Enlightenment
Forgiveness
Forgiveness - Four Steps
Forgiveness - Vital Aspect
Forgiveness - Crucial Element
Forgiveness and Health
Forgiveness - 10 Truths
Grace
Hiddenness of God
Jesus
Living with Paradox
Non-Judgment
Suffering
The Paschal Mystery
The Trinity
The Triune God
Trinity Reflections
Spiritual Practices
Communing with God in Nature
A Country Garden
Roses
Sea and Sky
Spring Flowers in Australia
Sunrise and Sunset
By the Lake
By the Sea
Australian Countryside
Springtime Flowers
Spring Flowers
Country Lake
Lakeside
Sunrise Splendor
Seaside
Late Spring Flowers
Early Light
Afternoon
Coastline
Morning Walk
Flower Festival
Quiet Waters
Community
Contemplative Living
Contemplative Prayer Overview
Contemplative Path
A Heart Experience
The Contemplative and Active
Lectio Divina
Mantras
Meditation
Christian Meditation
Meditation to Meaning
Meditation on Death
Death of Two Young Men
Mindfulness
Mindfulness Overview
Mindfulness in Everyday Life
Prayer - Lord's Prayer
Theology / Spirituality
Introduction to Spirituality
Formative Spirituality
Prayer and Prayerfulness
Spirituality of the Heart
Spirituality of Pastoral Care
Spiritual Autobiographies
Writings on the Spiritual Life
The Psalms
Ten Genres of Psalms
God's Kingship in the Royal Psalms
Psalms-Language of Prayer
Psalms 44 and 104
Vengeance Is God's
The Hiddenness of God
Liturgical Spirituality
Liturgy and Spirituality: Definitions
Liturgical Spirituality: Implications
Anglican Spirituality
Book of Common Prayer
Ecology, Cosmology, and Spirituality
Our Picture of the Universe
Mystery at End of Universe
Evolution and God
The Scientific Priesthood
The Ecological Age
Contemporary Economic Model
Aboriginal and Biblical Creation Accounts
Aspects of Aboriginal Religion
Reflections on Nature and Spirituality
Historical Spirituality
Theology
Biblical Studies
Old Testament
Creation Theology
Notes from My Notebook
Theodicy: Evil if God Is Good?
Is Suffering from God?
Belief in a Creator God: Implications
New Testament
Christology
The Church
History of the Early Church
Mission of the Church
Christian Education
Misc. Topics
Exploring Spirituality
Timeless Spirituality
Lord's Prayer Spirituality
Spirituality and Lord's Prayer
A Spirituality Sequence
Spiritual Traditions
Spiritual Classics
Reflections
Spirituality Snippets
Spirituality Quotations
Loving Kindness Meditation
Francis of Assisi Prayer
Prayer of Trust
Prayer to Perceive God
Prayer for Strength and Love
Abandonment to God
Look Well to This Day
God Is Love
New Identity in Christ
Learning and Growth
Nature of Truth
Desiderata
God and Creation
Anger of Another
Sacramental Life View
The Resurrection
Mystical Wisdom
Islam's Inclusiveness
Love, Joy, Obedience
Peace of Mind
Peace Versus Violence
Later Life Spirituality
Reminiscence
Longevity and Spirituality
Thoughts about Life
Thoughts on Life and Death
Contact Us
Privacy Statement
Personal Background